SAN JOSE COMMUNITY COLLEGE

SAN JOSE, MALILIPOT, ALBAY

ECON 1

SUBMITTED BY:

ABEGAIL BLANCO
CBPA-MM 2-F

SUBMITTED TO:

MS. ZYRA BITARA

INSTRUCTOR

III. What is the difference of needs and wants?

 A. Prove that wants are unlimited

B. What are the bases of human wants and how does it affects the willingness of achieving
it?

C. Do you agree that the needs have scarce resources ? Why or why not.

IV. What are the roles of the second element in the economy?

V. Define Capital Intensive and Labor Intensive. Give an example on how the company benefits
from having Capital Intensive and Labor Intensive production.