Mendoza, Alexandra Victoria T.

BS Legal Management 2A

ACTIVITY 1

“Regardless of your economic status, which is more important to you, health or unlimited supply
for your wants?”

It is apparent that every individual here on earth desires to live off a comfortable and stress-free life. Just
the fact that you still have to work long hours to acquire money is already tiring. Wants and needs are
often believed to posses the same definition. They are far more different from each other. And among the
two, it was wants who overruled us. The deep wanting to buy a new bag, a new shoes, a new clothes, a
new phone and so much more. This is what I like to refer to as my guilty pleasure. Because it is entirely
impossible for every human here on Earth to have unlimited supply of their wants. But, as I tackle the
question and do some intense thinking, comparison and analysis, I must say that between unlimited supply
of my wants and good health, I will still choose to have good health. I think if I were the same person back
then, if I was still a timid 17-year old, I will choose the unlimited supply of my wants. But a lot has happened
and a lot has changed. Experiencing the lock down brought by the Covid-19 pandemic is probably the
best example to explain why I choose good health. The economic status that time was damaged,
businesses fall over the place and consumers increase while production decreases. Some are even
hoarding supplies just to get by every passing day. Even though supplies weren’t really our concern back
then, which I was thankful of, the inevitable happened. Members from my family started acquiring the virus
and it was total hell for us. Sleepless nights were one thing but them spending those nights at the
designated isolation place were another. Thankfully, we managed to survive and overcome that adversity.
After all of these, a certain realization struck to me and that was to always choose a good health. Some
of us are taking health for granted without thinking of the possible worst-case scenario that might happen.
Whether you are rich or poor, famous or not, important personality or not, life will always get a way with
you. Despite having the most money and despite having tons of follower, health will always be a vital factor
to keep those privileges that you currently have. Who cares about your fortune and how famous you are
of you are now 6-feet above the ground. In times like these, that anything can happen every time, we
should consider being realistic rather than being positive. We cannot bring our possessions in the afterlife;
it will remain here on earth where we got it from. Just as the saying says, “When wealth is lost, nothing is
lost. But when health is lost, all is lost”.
Mendoza, Alexandra Victoria T.
BS Legal Management 2A
ACTIVITY 2 (Units of Bicycle Scarcity)
ECONOMIC GROWTH
Productive efficiency
- This choice falls over economic growth as
we see to it that we minimize our production
in every unit of bicycles. This is a very hard
task in economic growth as we undergo a
very intense evaluation, starting from the
materials to be used, the machineries to be
used and the costing of the bicycle.
Equity
- This choice falls under economic growth as
it deals with the workers themselves.
Bicycles wouldn’t be possible without the
workers who work long hours. But, despite
their hard work and efforts, some of them
remain unseen. To dela with the scarcity we
are already facing, we must not focus on the
products alone, but also to the men behind
those products. Its method is also similar to
targeting the workers emotions. Fair
treatment will be given to each and every
one. This way, they will have the motivation
and encouragement they needed to
continue in producing bicycles. This is a
matter of reducing future problems, we’re
currently facing scarcity and the last thing
we like to happen is to have these workers
quit and find another job.
IMPROVE THE USE OF AVAILABLE
RESOURCES AND REDUCE EXPECTATIONS
Reducing wants
- This choice best explains the reducing
expectations statement written above. In
this one we must appeal to the consumers
way of thinking and emotions. We must
reduce their urge to own a bicycle in amidst
of scarcity. Promoting the use of public of
transportation or even walking will help us
reduce their urge to purchase a bicycle.
Using our existing resources wisely
- This second choice best explains the
improve the use of available resources. The
task for this one is slightly similar to the
productive efficiency. We must see to it that
our existing materials upon making a bicycle
will be put to good use. Excess metals and
screws will not be dispatched instead we
can find other parts or ways in which we can
re-use them.
- In relation with this, we must also see to it to
not use more resources than necessary as
it might increase our production cost.
Scarcity in bicycles is already happening,
we must make sure to only use the
necessary resources in making bicycles.