John Mark R.

Marcos Economics 9:30-10:30 (MWF)

BSA-1C/305

Eco1-Managerial Economics
Module 1
IV. Preliminary Exercise:

Multiple Choices: Read each statement carefully and complete the correct thought of each statement by
writing the CAPITAL LETTER corresponding to your answer on the space provided before each item,
should answers not be found from the given choices, write CAPITAL LETTER E.

  B 1.) Economics has two root words  originating from the ________language.

A. Latin B. Greek C. Spanish D. English

     B 2.) The root word oikos, in its truest sense means 

B. House B. household C. managing D. management

     D 3.) The root word nomos, in its truest sense means

A. house B. household C. managing D. management

     B 4.) The terms oikos and nomos were known to mean 

A. Resources management C. Income management 

B. Household management                        D. Material management

      A 5.) The term autarky characterizing the nomads of early times would most closely refer to the
concept of 

A. self-sufficiency B. independence   C. Scarcity  D. abundance

       C 6.) After experiencing a little definition of roles in society during the ancient times, people started
to trade goods for other goods. This was known as 

A. trade       B. buy and sell       C. barter         D. none of the above

     B 7.) Economics is a social science because it invol;ves the study of

A. man’s evolution C. man’s mind 

B. man’s behavior D. man’s body functions

A 8. ) All of the following are related to the word scarce except

A. scant   B. short supply C. inadequate D. insufficient

C 9.) All of the following are related to the word unlimited except
 A. indefinite B. limitless C. finite D. unbounded

A 10.) Several civilizations sprang out near fresh water bodies, All of the following are the  
modern day countries where these civilization came from, except

A. Iran B. Iraq C. India D. China

     
    I.
List of Key Words Synonyms and Related Concepts
Social Human Behavior
Science Theories
Allocation
Budgeting
Scarce Insuficient
Resources Supply
Satisfy/Satisfactio Contentment
n
Unlimited Limitless
Wants  Desire
Needs Necessity

II. Formulate your own definition of economics out of the generated words
 Economic is the proper allocation, utilizatio, and effective use of scarce resources to
satisfy the unlimited human wants.

 Economic is teaches us rational decision and good judgement.

VII. Summary of the lesson/ Generalization:

Different periods have their significance in Household Managing
Activities wherein civilizations flourish with the settlement of people in the
communities thus it leads to an early system government.
 NOTE:  Generate your own generalization.
- From different periods it shows he development and evolution of human on how
they allocate and manage their resources. Since the beginning Man was doing
household managing activities to survive. At earlier times nomad roam around
from one palces to another when the resources to that place was completely utilize
but since human is also evolving instead of migrating they just properly utilize
and preserve the place. They settle down and build civilization.

VIII. Post-Learning Assessment:

 The table approximates the early transition of man from early nomadic tribes into
modern civilizations.
 Write down the different Household Managing Activities on each approximate
period.

Approximate Period Significance of the Period Household Managing Activities

(Ice Age) polar ice caps started to Hunting, Fishing.

11,000 B.C. (and melt; earliest known start of
beyond) creation of bodies of water in the
world
Earliest traces of nomadic activity Hunting, make clothing, mainataining their
9,000 B.C. shelter.

Earliest known civilization  Making silk, create books, Farming,

6,000 B.C.  (China, Yang Tze River) Merchant, Terrace farming, trade.

Next known civilization Farmers raised cattle,grew wheat, millet,

3,000 B.C. (India, Indus River) barley, and rice. Trading with Chinese.

Middle East Civilizations Farming, Building, Trading.

2,800 B.C. (Tigris and Euphrates)

IX. Feedback: The meaning and the definition of economic is clear and understandable but
need more description on the latter part of the discussion proper like the household
activities of the earliest civilization.