Martin Lorenzo H.

Pineda
BS HM 3A

1. The government is spending an infrastructure push to improve

transportation services in the Philippines. Would you think these
developmental projects increase or boost the economy of our country?
What do you think are the opportunity costs and trade-offs of these
projects? (20pts) 

Transportation projects can have various impacts on a community’s economic

development objectives, such as productivity, employment, business activity, property
values, and investment and tax revenues. In general, transport projects that improve
overall accessibility and reduce transportation costs tend to increase economic
productivity and development. When the transportation developments increase the
accessibility of public and businesses to reach the jobs, goods, services and activities,
the productivity also increases. Moreover transportation helps in the export and import
between the countries hence help to establish the business with other countries and
gain the foreign earning and also import of necessary thing in order to fulfill the
requirement of a country.

2. Land in the Philippines is overexploited due to two simultaneous trends:

population growth and land degradation. Most of the agricultural lands are
converted into residential subdivisions and commercial establishments in
our country. Research on the recent land reforms to help the Filipino
Farmers engage in agricultural activities. Cite the perils on agricultural land
conversion to our economy. (20pts)

President Duterte’s marching orders to implement real agrarian reform and help
improve the lives of Filipino farmers, they had to make innovations and go down to
meet the farmers. A total of 516,000 hectares have been distributed among 405,800
farmers nationwide by Department of Agrarian Reform under the administration of
President Rodrigo Duterte. Currently, there are 2.486 million agrarian reform
beneficiaries from 1972 up to 2020, in which 166,127 were from 2016, while 1.3
million or 53% of agrarian reform beneficiaries are now within 2,234 agrarian reform
communities. The agency continuous to empower beneficiaries with training and
financial assistance that have reached 1,626,097 ARBs. 897,882 farmer-ARBs have
availed of financial assistance worth a total of PHP 18.7 billion. Agricultural land
conversion have exerted adverse impacts on the local environment, including land
degradation, increased flooding, and modified climate regime . The continuing
urbanization and industrialization of the provinces nearby Metropolitan Manila and other
cities of the Philippines have resulted to the continual decline in productive agricultural
land. This was brought about by the massive conversion of agricultural lands to
industrial, commercial and residential purposes. Many farms were lost due to land
conversion.
 

3.  If you were to plan a business in your community, what would it be?
Why did you choose it? Answer the five economic questions in establishing
your business. What challenges would your business may face such as
government policies, opportunity costs, and trade-offs? (30pts)

If I were to plan a business, it would be in the food industry. I chose this kind of
business because cooking is my passion and I think you have to do what you really

PHASE I PHASE II
Pre-Clinical Trials Clinical Trial Clinical Trial
25 - 50 people hundreds of people

Vaccine assessed
by policymakers
PHASE III
Vaccine checked
Clinical Trial
by regulatory body
thousands of people

Licensing PHASE IV
Approved vaccine
and continuous monitoring for
used in population
Registration effectiveness and safety

love. The food industry has essential role that humans cannot live without. Food
products such as in restaurants will be produced in my business. For example, a
restaurant can sell food items, which are goods, as wells as provide services. The
food is prepared and served. The goods are produced for the customers in any age
group, whoever wants to dine or eat at a restaurant. Resource efficiency can be
improved at a low cost if people are competent and skilled. Saving raw materials is
the greatest means for financial savings in the food industry. Food industry as a
business is one of the biggest contributors to the country’s economy. Food is our
primary need that us why it is one of the most profitable business. Food industry is a
significant and stable contributor to the economy as an employer, in economic
growth and an innovator in the food system. I think the pandemic may be the biggest
challenge I would face if I were to run my food business. As we all know that may
establishments and businesses have closed due to the pandemic. For example, food
inflation has caused to hike up prices or there are limits to dining in at a restaurant
and in return the income or profit a restaurant has only little amount causing the
business to shut down because it has no more money to pay his employees.

4. Make a diagram of the Production Process of Covid-19 Vaccine. Explain

your work. (30pts)

Like any vaccine production, they all start with a pre-clinical trial. COVID-19 vaccine
production start with a pre-clinical trial in which animals are tested for the vaccine to
check if they will develop immunity and antibodies to coronavirus that causes COVID-
19. Next, phase I in which the vaccine is given to small number of healthy adults to
assess its safety to humans. Results of every phase are reviewed by independent
clinical experts. Sometimes trials are paused to ensure safety. Phase II involves
testing the vaccine on large groups of people to find the appropriate dosage for the
vaccine or whether it stimulates immune response and assess its safety. Once the
results are checked by independent clinical experts the vaccine moves to the next
phase. Phase III is evaluated by thousands of people. In this phase, it determines if
it’s effective against COVID-19.If it is effective, the vaccine is independently
evaluated by regulators for effectiveness, safety, and manufacturing quality. It is also
checked by independent policymakers to determine the best way to use the vaccine.
Then, if the assessment meets the regulatory standard, the product or vaccine can be
authorized for use. The vaccine is now ready for licensing and registration and the
approved vaccine may now be used in population. Lastly, phase IV is when the
vaccine is already in use, health authorities continuous to monitor its safety and
unexpected side effects to ensure the vaccine maintains high standards.