Edwin L.

Catimbang Jr BSA-2A

Prof. Dexter Magno 09/06/2023

SUMMATIVE ASSESSMENT

1. TRADITIONAL ECONOMY

2, MARKET ECONOMY

3. MARKET ECONOMY

4. COMMAND ECONOMY

5. TRADITIONAL ECONOMY

6. TRADITIONAL ECONOMY

7. TRADITIONAL ECONOMY

8. MARKET ECONOMY

9. TRADITIONAL ECONOMY

10. COMMAND ECONOMY

ASSIGNMENT #1

1. ABSOLUTE SCARCE

2. ABUNDANT

3. RELATIVE SCARCE

4. ABSOLUTE SCARCE

5. ABSOLUTE SCARCE

6. ABUNDANT

7. ABSOLUTE SCARCE
 ASSIGNMENT #1.2

ABUNDANT IN THE PHILIPPINES SCARCE RESOURCES IN THE PHILIPPINES

1. VEGETABLES 1. GOLD

2. MINERALS 2. COPPER

3. COCONUT 3. ELECTRICITY

4. RICE 4. NICKEL

5. ROOTCROPS 5. AGRICULTURAL SOIL

ASSIGNMENT #1.3

My observations led me to conclude that the Philippines had a comparative advantage over
other nations due to its output of natural resources, such as agricultural land, minerals, and fisheries.
The agricultural area in the Philippines, which produces a range of products such coconut, banana, rice,
corn, pineapple, and sugarcane, is the country's main source of income. With the exception of rice and
corn, all of these goods are exported.

Additionally, our nation is rich in priceless minerals like nickel, iron, and copper. There are also
plenty of marine resources because the Philippines depends on water as a key natural resource because
it is encircled by the ocean. Even the resources that we know to be abundant in the Philippines may run
out due to the expanding population due to the people's limitless needs.