Name: Bernadette A.
Perez
Grade & Section: 12 ABM Fayol
OUTPUT #1 - VENN DIAGRAM
Appl i e d S c i e nc e
Applied science is the application of
scientific knowledge to the
development of practical solutions to
societal issues.
In applied economics, broad
hypotheses are developed by testing,
primarily utilizing historical data. The
study of examining how theories
function in practice is the shorter
definition.
A science that applies economic theory
and econometrics to specific situations
in order to analyze prospective
outcomes.
Sources:
https://www.scribd.com/embeds/470214092/content?start_page=1&view_mode=scroll&access_key=k
ey-fFexxf7r1bzEfWu3HKwf
Date: March 2, 2023
Subject: Applied Economics
S oc i a l S c i e nc e
Economics is the study of how societies
produce their material wealth, distribute
it to their citizens with the minimum
study human difficulties, and increase their wealth.
behavior and
its A science that deals with the allocation of
consequences scarce resources to meet the unlimited
use a variety of human wants.
methods to
collect and Economics is a social science because it
analyze data.
attempts to comprehend how people of a
concerned with society behave and arrange themselves in
understanding
order to achieve their individual and
the causes of
social communal material wants and
problems. aspirations. It shows how the
commodities and services produced
utilizing the country's finite economic
resources satisfy the boundless needs and
desires of man or customer.