Cite three (3) Economic applications you encounter as a student, a citizen

and as a household member.

Supply and Demand is the basic law in economics. Supply is the number of goods the
producers float in the market whereas Demand is the amount market participants are willing
to buy. Example When Corn crop production increases the farmers decrease the price of the
crop so that they can sell off their produce. If the supply is too high then the demand i.e. the
amount of corn needed to feed the people of the Country, the produce had to be wasted
and farmers lose their cost of production. Every nation tries to protect its own economy,
local businesses, and local industry. As the local industry creates jobs, they would like to
protect the interest of the Country’s businesses. The best example for this is the current
trade war between the USA and China where the USA initiated a higher tariff on the goods
imported from China and China retaliated with similar tariffs on US goods. Since, both the
USA and China are large economies of the world they do not only impact their own
countries but have an impact on the global trade and global economy. Everyone has an
understanding of scarcity whether they are aware of it or not because everyone has
experienced the effects of scarcity. Scarcity explains the basic economic problem that the
world has limited or scarce resources to meet seemingly unlimited wants. For example, there
is only so much wheat grown every year. Some people want bread and some would prefer
beer. Only so much of a given good can be made because of the scarcity of wheat. How do
we decide how much flour should be made for bread and beer? One way to solve this
problem is a market system driven by supply and demand.

Say you bought a share of AYALA LAND for PhP30 and a share of
MEGAWORLD for PhP10. The price of each is currently PhP20. Assuming
taxes are not an issue, which would you sell if you needed PhP20?

I will MEGA WORLD. I just bought him for 10. then I will sell for 20. my profit will be 10
Unlike in AYALA LAND I bought it for 30 pesos why am I sell it in 20 pesos?

Should travel restrictions still be implemented to contain the spread of

Covid-19 or should we encourage commercial travel?

Travel bans are often implemented alongside other travel restrictions and control measures.
It’s really hard to tease apart the impacts of travel bans versus other outbreak response
measures few countries, governments worldwide try to prevent the disease from entering
their territories by limiting international travels. The same strategy is also applied at a more
local scale, by restricting travels between regions, also after the disease has reached all of
them. It is nevertheless easy to see that an individual living in a region with a high infection
rate would benefit from moving to a lower rate one; the question then becomes whether
and under which conditions are those restrictions really beneficial. Using a simple random-
walker model, we here show that travel restrictions are beneficial for regions with low
infection rates, as indeed new imported cases are limited; nevertheless, this goes against the
interest of the system as a whole, as free movements can reduce the total number of cases.

How about the execution of blended learning versus the traditional teaching?

Blended learning is more effective than traditional methods because learners can focus on
content like new vocabulary or pronunciations while using their self-paced, online material on
their own time. In live sessions, the tutor can work with learners to support their unique needs
and goals. No class time is wasted covering material learners already know or that they can
practice on their own. Learning is maximized with more effective and authentic learning time in
each environment. Advanced technology makes it possible for learners to have more choice
and control over the delivery of their learning. Blended learning allows for instant access to
information anywhere in the world, as long as the learner has a computer or a smartphone and
an internet connection. Live instruction, whether face-to-face or virtual, is built around the
learner’s availability and allows for greater flexibility, unlike the traditional learning environments
where learners have to attend classes at a fixed date and time.

What type of economic system does the Philippines have?

a mixed economic system which includes a variety of private freedom, combined with
centralized economic planning and government regulation. The economic system that the
Philippines is into is CAPITALISM in which capital goods are owned by private individuals or
businesses. The production of goods and services is based on supply and demand in the
general market (market economy), rather than through central planning (planned economy or
command economy).

The system has been good and beneficial to the country. But this system requires that the
political leadership is doing their supposed job of promoting and supporting this system. This
system is threatened and become anemic when the political leadership is busy promoting their
own vested interest in politics and instead of enhancing the system it becomes a threat thereby
weakening the economy of the country. For one, socialism is more humanist than capitalism
because the interests of the people will always take precedence over those of the bourgeoisie. It
doesn't seek to capitalize on human suffering and misery. You won't see socialists charging
hospital patients with financially-crippling medical bills or depriving the people of affordable (and
even subsidized) education. Basic necessities aren't made into profit-generating commodities.
This is why, in most cases, I tend to trust socialism and social democracy more than capitalism.

Would you consider the ABS-CBN’s franchise case as government failure?

Why or why not?

No Because During the successive hearings in the House Committee, many accusations have
been thrown against ABS-CBN, including tax evasion, labor law violations, political bias in its
news coverage, and foreign ownership and citizenship issues.
No Because During the successive hearings in the House Committee, many accusations have
been thrown against ABS-CBN, including tax evasion, labor law violations, political bias in its
news coverage, and foreign ownership and citizenship issues.