-Name: Ram Lloyd B.

Suello BSED SOST 2C DAY

Activity #1: Nature of Economics

Instructions. Fill-up the matrix with the non-economic factors and give examples
of economic problems (situations) caused by each factor. Use your own examples.

Non-economic Factors Economic Problems

1. Religion
Religious activities like Christmas
or Ramadan can help economic
growth because people tends to
spend more money in order to
celebrate and win God’s pleasures
in exchange for blessings in the
future.

2. Educational Due to low incomes, parents can

sometimes find it more difficult to
bear the direct costs of educational
needs such as tuition, fees, and
uniforms

Many workers around the world

3. Social
are unemployed due to the
appearance of the Covid-19
pandemic
 An increase in demand for
4. Political products and services during the
pandemic cause a sudden increase
in the rate of inflation, as
consumers are experiencing lower
purchasing power.

5. Cultural Today, younger generations tend to

buy more imported goods than
local products, resulting in a
decrease in local income and
demands