APPLIED ECONOMICS

Name: _______________________________
Grade and Section: ____________________

Module 12: Socioeconomic Impact Study

(4th Quarter, 2nd Semester)

In an economy, businesses operate in a community with several sectors. These include the consumer,
suppliers-investors, governments, households, and foreign countries. The impact of a business on each of these
stakeholders differs based on factors that concern them. These factors could be used to measure the impact of
the business on the stakeholder.

From this module, you will find the following lesson:

Lesson 1: Socioeconomic Impact Study

LEARNING OBJECTIVE

Upon successful completion of this module, you will be able to:

 identify and explain the various socioeconomic factors affecting business and industry. (DepEd-MELC,
DICES)

PRETEST
Directions: Supply the missing words to identify the indicators being described in the following items.

1. It refers to the economic transactions that are made between countries.

N T N A T

1
2. These are imposed in almost every country of the world, primarily to raise revenue for government
expenditures, although they serve other purposes, as well.
T

3. It provides the legal and social framework, maintains competition, provides public goods and services,
redistributes income, is correct for externalities, and stabilizes the economy.
G E R

4. It is defined as all those man-made goods which are used in further production of wealth.
A P

5. It is the social science that studies how economic activity affects and is shaped by social processes.
O I O

DAY 1

Lesson No: 1
Lesson Title: Socioeconomic Impact Study
Learning Target: Identify and explain the various socioeconomic factors affecting business and industry.
(DepEd-MELC, DICES)
Values/Graduate Attribute: The learners will be aware of how economics affects their daily lives and
become responsible for addressing basic economic problems and issues they will encounter.
References: R.K. Laurel & S.J. Zambrano (2018). Applied Economics For The Global Filipino.
SalesianaBooks by Don Bosco Press, Inc.

Concept Notes:
A socioeconomic impact study requires the identification and evaluation of the potential
socioeconomic impact of an activity on the lives of those in the community. Evaluating the socio-
economic impact of a business allows them to align its profitable endeavors with the needs of the
community and contribute to a more sustainable development of society.

IMPACT ON CONSUMER
- Consumers benefit from new businesses’ innovation and novel ideas. Businesses rely on the
consumers’ consumption of the commodities they produce, whether it is a good or service.

IMPACT ON SUPPLIERS-INVESTORS
- New businesses allow for suppliers and new investors to earn and increase income.

IMPACT ON THE GOVERNMENT

- Revenue generated by the government from tax it collects is used to provide public services. Businesses
start with obtaining a license to operate by paying fees to the local government. Workers employed by
the firm also pay taxes for the wage they are paid.

IMPACT ON HOUSEHOLDS
- Households are able to increase their wealth when new businesses offer job opportunities.

2
 IMPACT ON INTERNATIONAL TRADE
- Globalization and international trade are an advantage to a business. Globalization has allowed for the
easier flow of goods and services across borders. Export and import of commodities between countries
are influenced by the demand for these commodities both domestically and internationally.

DAY 2

Time started: ______

Time finished: ______

LEARNING ACTIVITY 12.1

Activity Title:
Learning Target: Identify and explain the various socioeconomic factors affecting business and industry.
(DepEd-MELC, DICES)
Values/Graduate Attribute: The learners will be aware of how economics affects their daily lives and
become responsible for addressing basic economic problems and issues they will encounter.

Directions: Turn to page 93-94 of your book, Applied Economics for The Global Filipino, and
accomplish the task in Chapter 5 Activity. Write your answer on a separate sheet of paper.

DAY 3

POST-ASSESSMENT

Directions: Answer the following questions in not less than three (3) sentences.

A. As a consumer, what are the different factors that will make you buy a certain product or item? Explain.
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B. During this pandemic, how are you going to describe the socioeconomic status of our country? Explain.
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3
Rubrics:

CRITERIA 5 4 3 2
The contents are very The contents are very The contents clear, only The contents are almost
clear and contain the clear, and some lacking in some necessary clear.
CONTENT necessary information that information was aligned information needed in the
is aligned with the in the organized ideas. organized ideas.
organized ideas.
Ideas are very organized Ideas are very well Ideas are organized. Ideas are almost
ORGANIZATION
accordingly and reached organized. organized.
OF IDEAS
the expectations.

REFLECTIVE JOURNAL

Directions: In one or two paragraphs,

summarize your learnings or insights
from this module. How can you apply
this in your daily life as an ABM
student?

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_______________________________________________________________________________________
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ANSWER KEYS
5. SOCIOECONOMICS
4. CAPITAL
3. GOVERNMENT
2. TAXES
1. INTERNATIONAL TRADE
PRE-TEST

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