Republic of the Philippines

President Ramon Magsaysay State University

(Formerly Ramon Magsaysay Technological University
)
Iba Zambales

College of Teacher Education

Self Learning Module
Soc Sci 4

Reynor P. Dial
ACTIVITY
ORIGIN AND ESSENCE OF ECONOMICS

Name: Darwin M. Dela Pena Date:_____________

Course&Year: BSIT 3B Score:_____________

A. Directions: Explain the relationship and importance of understanding economics in the following

1. Being a student.
As a student, understanding and learning economics is important. We can apply what we have learned to the
real world situations. This will give us the knowledge to inspire business success in the future.

2. As part of a family.
As part of the family, you are responsible for studying economics in order to share knowledge on your family
and relatives. It might help you in the future on starting a business.

3. As part of a community.
As part of the community, we have to have the knowledge about economics. We have to understand it so we
can be aware on what is going on our country’s economy and to know how this things works so that we can
help to improve our economy.

B. Answer the following questions briefly.

1. What is scarcity? How does it affects our economy?

Scarcity is the condition by which the available resources are not enough to satisfy human needs and wants. It
refers to the storage of resources in an economy. It affects the economy when we lack of supplies, then the price
of our supply will continue to go up until nobody wants to buy it. This can affect our economy.

2. How does the pandemic affects our economy? Cite at least 3 noticeable area that has been affected.
This pandemic affects our economy because only few people is allowed to go out and work. Our economy will
go down because our country’s budget would focus on treatment. This pandemic affects the exporting of our
goods to other countries because of the travel bans. The city of Manila, Cebu, Makati and other parts of our
contry has been affected much.
ACTIVITY
RELATIONSHIP OF ECONOMICS TO THE OTHER FIELDS

Name: Darwin M. Dela Pena Date: _______________

Course&Year: BSIT-computer tech. 3-B Score: _________________

Directions: The following fields of discipline are related to the study of economics. Cite how each discipline
may contribute knowledge in the study of Economics.
Example:
Demography: The knowledge on the concerns of population (e.g. age, parentage, physical condition,
ethnicity, occupation, civil position and density) helps in understanding the country’s economic activities
especially production which answers the basic economic questions what, how much, and for whom goods and
services are being produced.

1. Sociology

The knowledge on the concerns of human social relations or group life. It helps understanding social
interaction. Social interactions helps make up human society and group relations. It influences the society to
understand economy.

2. Psychology

The knowledge of the behavior and the mind. Psychology helps observed, experiment, and measure the
behavior of an individual. It is responsible for economic decision-making progress.

3. Geography

The knowledge on the relations of humans on the environment. It helps the distribution of supplies through
transportations and other modifications of the physical geographic environment.

4. Mathematics

The knowledge on relationships between numbers and other measurable quantities. It helps our economy by
means of mathematical researchs and is responsible for our technologies.

5. Political Science
The study of reflection upon politics. Political science helps organize societies. It studies how the politics affects
the economy and how it influences organizations outside the government.

6. Anthropology
 The knowledge of all aspects of human life and culture. It helps our economy through examining how people
live, what they produce and how thet interact with their environment. It helps us to learn ways on how we plan
on how we might live in the future.

7. History

History helps our economy to engage with our economic past and prepare the next generation of economist. It
helps to learn from the past economy to learn today and improve the economy today and in the future.

8. Ethics

Ethics helps our economy by analyzing the impact of rules, virtues, morals or values on economic management.

9. Philosophy

It is the rational and critical inquiry into basic principles. Philosophy helps us to analyze and explain economy.
It helps our economists to understand deeply the development of the country’s economy.

ACTIVITY
BRANCHES/DIVISION OF ECONOMICS

Name: Darwin M. Dela Pena Date:_________________

Course&Year: BSIT 3B Score:_______________

A. Directions: Using a vienn diagram, explain and identify the similarities and differences
- of Microeco
nomics and macroeconomics.

Microeconomics Macroeconomics

Similarities

Individual income. Study the same economy National income

Individual prices. Overall price level

Analyzes demands and supply goods Analyzes Aggregate demand and supply
B. Give the contribution of the following advocates of Microeconomics and Macroeconomics.

1. Francis Quesnay
He is the founder of the Physiocratic school. He wrote (1756-57) articles.

2. Adam Smith
He is the first to study the nature and capital and historical development of industry and commerce among
European nations.

3. John Maynard Keynes

He influenced the economic policies of most non-Communist governments.

4. Karl Heinrich Marx

He founded scientific socialism and he is the creator of a system of thought called Marxism.

ACTIVITY
METHODS OF ECONOMICS

Nname: Darwin M. Dela Pena Date:___________________

Year&Course: BSIT 3B Score:___________________

Directions: Make a summary of the lesson by comparing the characteristics of Normative Economy and Posi
-tive Economy.
Normative:

It can be useful in establishing and generating new ideas from different perspectives. It cannot be the only basis
for making decisions on important economic issues. It does not take an objective angle that focuses on facts and
causes and effects.

Positive:

It uses objective analysis in the study of economics. It concerns the description, quantification and explanation
of economic phenomena.

ACTIVITY
BASIC TERMS IN ECONOMICS

Directions: Give examples or situation of the following terms in economics.

Opportunity Cost-
A farmer chooses to plant wheat; the opportunity cost is planting a different crop or an alternate use of the
resources.

Marginal Analysis-
The total cost of flying a plane from Philippines to Alaska will be several thousand pounds. However, with a
plane 50% full, the cost of carrying one extra passenger is quite low.

Scarcity-
After poor weather, corn crops did not grow resulting in a scarcity of food for people and animals and ethanol
for fuel.

Nonrenewable Resources-
Natural gas, crude oil, coal and uranium are examples of nonrenewable resources.

Capital Goods-
Vehicles, production technology, computing technology, electronics, and software are some of examples of
capital goods

ACTIVITY
ECONOMIC RESOURCES

Name: Darwin M. Dela Pena

Directions: Give the importance of economic resources and explain the role of one another.

Land
-It is the natural resources that is present in the state. The land is important because it provides the unlimited
wants and needs of the people.

Labor
- They are the workers that are needed in order to produce products and services. Labor is the most important
factor of production because a product or services cannot be made without workers.
Capital
-It is the financial assets. It is used to fund the products.

Entrepreneur

B. Explain how economic resources are connected to one another.

Land Labor Capital Entreprenuer

Natural Resources Workers Money Business

Essay

Name: Darwin M. Dela Pena Date: __________

Course&Year: BSIT 3B Score:____________

1. What are the possible reasons of the communist nations to embrace or prefer communism as an
economic ideology despite its rigidity? Explain in 5 sentences only.

2. Discuss the economic system exemplified in capitalism and socialism. Explain each in 3 sentences only.
A. Capitalism

An economic and political system in which a country’s trade and industry are controlled by private owners for
profit rather than by the state.

B. Socialism

Social organization which advocates that the means of production, distribution, and exchange should be owned
or regulated by the community as a whole.
B. THE CIRCULAR FLOW
OF ECONOMIC
ACTIVITY
ACTIVITY
Market System

Name: Darwin M. Dela Pena Date: _______________

Course&Year: BSIT 3B Score: _________________

A, Directions: Make a comparative analysis between the two types of market system using 2-3 variables.

Market System

Perfect Market All firms sell an All firms are price Unlimited buyers and
System identical products. takers sellers

Imperfect Market Any economic markets Individual buyers and There are high barriers
System that does not meet the sellers can influence to entry or exit in the
rigorous standards of prices and production market
the hypothetical purely
competitive market

B. Give advantages and disadvantages of the two market system.

Perfect Market System

Advantages: Disadvantages:
They allocate resources in Lack of supernormal profits
the most efficient way

Imperfect Market System

Advantages: Disadvantages:
Higher price can be imposed There is competition among the sellers
on the products generating
more profits
ACTIVITY
THE CIRCULAR FLOW OF ECONOMY

Name: Darwin M. Dela Pena Date: _______________

Course&Year: BSIT 3B Score: _________________

DIRECTIONS: Give the role of the following actors of the circular flow of economic activity.

1. Household
They consume the goods offered by the firms.

2. Firm/Business Firm
They are the ones who offers goods.

3. Resource Market

5. Government
The government purchases goods from firms and also factors of production from households. Thus the
government purchases of goods and services are an injection in the circular flow and taxes are leakages in the
circular flow.

6. Financial Intermediaries
It brings savers, borrowers, and financial assets together. They collect funds from savers and then invest these
funds in loans and other financial assets.

7. International Trade
The international trade sector includes exports, which add value of aggregate demand, and are an injection into
the circular flow of income, and imports which reduce aggregate demand, and withdrawal from the circular
flow.

ACTIVITY 2

DIRECTION: Give example to the following:

1. Give an example of a productive resource that households sell to government,

Natural Resources

2. Give an example of a good or service that businesses sell to government,

Giving taxes
3. Give an example of a good or service that government provides to households in exchange for money
payments, mainly t axes.

Example is buying any items from stores such as food or clothes.

4. Give an example of a good or service that government provides to businesses in exchange for money
payments.

Productive resources such as land, labor, and capital.

C. AN INTRODUCTION
TO
SUPPLY
AND
DEMAND
ACTIVITY
DEMAND

Name: Darwin M. Dela Pena Date: _______________

Course&Year: BSIT 3B Score: _________________

Direction: Explain how the determinants of demand affects the ability of the consumer to buy the product.

1. Income
The higher the price means the buying power of income will be reduced. It leads to buying less of the
product.

2. Population
The population changes the demand simply because when there are more people, more units will be bought. The
more money the people have, the more money they will be willing to spend.

3. Price and Speculation

A market without speculators would be an illiquid market, characterized by large spreads between bid and ask
prices, and where it might be very difficult for investors to buy or sell investments at a fair market price.

ACTIVITY 2:

Diirection: Give example of every Elasticity of Demand and explain why they are under of the said elasticity.

Elastic
Ex. Bread- its production can be easily expanded.

Inelastic
Ex. Water- one of basic necessity that people are willing to go without.

Perfectly Elastic
Ex. Luxury products such as jewelry and golds.

Perfectly Inelastic
Ex. Food and prescription drugs.
ACTIVITY
SUPPLY

Name: Darwin M. Dela Pena Date: _______________

Course&Year: BSIT 3B Score: _________________

Direction: Explain how the determinants of supply affects the ability of the producer to sell product.

1. Tax
A tax causes producer surplus profit to fall.

2. Technology
The impact of technology on production has increased the rate of production and speed at which business
occurs.

3. Change in the cost of factors of production

The increase in the cost of the factors of production tends to decrease the supply of producers.

ACTIVITY 2:

Diirection: Give example of every Elasticity of Supply and explain why they are under of the said elasticity.

Elastic
Ex. Bread- its production can be easily expanded.

Inelastic
Ex. Water- one of basic necessity that people are willing to go without.

Perfectly Elastic
Ex. Luxury products such as jewelry and golds.

Perfectly Inelastic
Ex. Food and prescription drugs.
ACTIVITY
CONCEPTS OF AGRARIAN REFORM

DIRECTIONS: Define the following:

1. Land Reform
It refers to the full range of measures that may or should be taken to improve or remedy the defects in the
relations among men with respect to their rights in land.

2. Agrarian Structure
It is defined as a complex set of relationship within the agricultural sector among tenure structure, production
structure and the structure of supporting services.

3. Land Tenure Structure

Is a concept which refers to one or more types of land tenure systems regulating the rights to ownership and
control and usage of land and the duties accompanying such tights. Agricultural tenancy, as a manner of holding
agricultural lands, is only one of several forms of land tenure or rights in land

4. Agriarian Reform
It is the redistribution of lands, regardless of crops or fruits produced, to farmers and regular farm workers who
are landless, irrespective of tenurial arrangement, to include the totality of factors and support services designed
to lift the economics status of the beneficiaries and all other arrangements alternative to the physical
redistribution of lands, such as production or profit-sharing, land administration and the distribution of shares of
stock, which will allow beneficiaries to receive a just share of the fruits of the lands they work.

ACTIVITY 2:

DIRECTIONS: Explain the connection of the Agrarian Reform to the following programs:

1. Public health program

__________________________________________________________________________________________
_________________________________________________________________________________________
_

2. Education and training of Farmers

__________________________________________________________________________________________
_________________________________________________________________________________________
_

3. Family Planning

4. Application of labor laws to agricultural workers

__________________________________________________________________________________________
__________________________________________________________________________________________

ACTIVITY
ASPECTS OF AGRARIAN REFORM

Name: _________________________________ Date: _______________

Course&Year:____________________________ Score: _________________

A. Direction: Compare and distiguish the diffirence between Agrarian Reform and Land Reform and
their similarities using a Venn diagram.

Agrarian reform. Simmilarities. Land reform

Wide redistribution of land. Redistribution Narrower redistribution of land

Provision of infrastracture of land government-initiated

B. Direction: Explain the following goals and land reform program and explain how will it secure the
welfare of the Filipino agricultural producers.

1. To establish owner-cultivatorship and to make family-sized farms available for farm-tillers

 It says that landless Filipino farmers are given the rights of ownership over the land they are tilling. This will
give the farmers an ensurance to farm freely and willingly on their given farms so that the farmers will continue
produce their crops and it will lead to development of our agriculture at the same time.

2. To achieve a dignified existence of minor farmers and to free them from harmful institutional restraints
and practices.
With this goal the farmers are given a chance to improve their standard of living and their farming
management so they can establish more yields. The greater they improve the greater they can provide and
produce. Farmers can earn more money that they can send their childrens to school to get educated so that their
childrens might have the knowledge about this and hopefully they can freed the farmers from harmful
institutional restraints.

3. To establish social and economic structure conducive to greater productivity and to improve family
incomes.
In order to develop the factors of production, the farmers family members should help socially and
economically. The production will strenghten and may lead to much more family income. When farmers are
organized into cooperative associations it would bind them to the community and contribute on a improved
standard living.

4. To provide a more systematic land settlement and land distribution program.

The land owners and land benificiaries will be given a legitimacy of contracts according to the distributuon of
land titles and settlement. This will make the land owners settle permanently and continue what they want to do
on thier lands.
5. To make the small farmers more independent, self-reliant, responsible citizens and source of strength in
their society.
This goal is to make small or weak farmers become empowered. This could make them less dependent from the
resources of the government, they could be self-sustaining, and greatly be a much more productive members of
the country. This will make them settle in their workplaces and would be helpful on our economy.

ACTIVITY 1:
PRESIDENTIAL DECREE NO. 27

Name: _________________________________ Date: _______________

Course&Year:____________________________ Score: _________________

DIRECTION: Outline the details of the following and give a brief description to the nature/purpose.

1. P. D. no. 27 Outline:
Description of nature/purpose:
__________________________________________________________________________________________
__________________________________________________________________________________________
_________________________________________________________________________________________
_ 2. RA 6657 Outline:

Description of nature/purpose:
__________________________________________________________________________________________
__________________________________________________________________________________________
_________________________________________________________________________________________
_ ACTIVITY 2:

Directions: Compare the accomplishment of the 2 program and state which one do you think is more succesful.
P.D. no. 27 Accomplishment RA 6657 Accomplishment

__________________________________________________________________________________________
__________________________________________________________________________________________