Applied Economics

What’s New?
Activity 1

1. I have both side.

2. Because of financial problem and unstable work.

3. Yes it is. Because the reason why they work abroad and work
harder, is to give us the good life we all deserve. We all know that
there are lots of opportunity in our country, but the salary wasn't good
compared to countries outside the PH. It will be worth it, if you are
paying their sacrifices, through making things that will make your
parents of family member proud to you.

4. Being an OFW will help improve your independence. It will teach

you numerous skills that you may only be able to learn precisely
because of this independence: cooking, doing the laundry, budgeting,
planning your days, communicating with others, being resourceful,
handling challenges, making the hard decisions.

5. Experience is key. One of the most important aspects of working

as a student is that you have the opportunity to gain experience.

6. My Mom because she’s PWD and my dad she’s not allow to work.

What I know
Activity 2
1. Demand
2. Supply
3.Substitution
4.prices
5.peso
6.Consumer
7.Equilibrium
8.Production
9.Labor
10.Entrepreneur

Graph Analysis
Activity 3
A.

B. if the price is above the equilibrium level, then

the quantity supplied will exceed the quantity
demanded. Excess supply or a surplus will exist.

C. If the price is below the equilibrium level, then the

quantity demanded will exceed the quantity supplied.
Excess demand or a shortage will exist. If the price is above
the equilibrium level, then the quantity supplied will exceed
the quantity demanded.

Activity 4
1.Vat/Value Added
2. Supply

What’s in
Activity 5
1.

2.

3.

What’s More?

The impact of COVID-19, particularly on the business world, couldn’t

have been predicted but has been an incredible learning experience
—especially for aspiring entrepreneurs. Social distancing and remote
work have forced traditional in-person businesses like restaurants,
brick-and-mortar retail and event services to get creative with
solutions and stay viable while also opening a world of opportunities
for business owners to meet consumers’ new and evolving needs.

Entrepreneurs are innovative, creative and risk-taking by definition so

establishing a business in or immediately after a pandemic doesn’t
frighten many away. However, there are several niche markets or
missing spaces in the digital marketplace that entrepreneurs can fill—
thereby taking advantage of pent-up market demand and putting their
best foot forward in the business world. Here are 13 ideal businesses
to consider pursuing, whether you’re making your entrepreneurial
debut or adapting the products and services you already offer to a
changing marketplace.

ASSESSMENT
1. The law of supply and demand is a theory that explain the
interaction between the sellers of a resource and the buyers for that
resource.
2. The Law of Demand states that, higher the price, the higher the
quantity supplied.

3. A movement refers to a change along a curve

4. A shift in a demand or supply curve occurs when a good's quantity

demand or supplied changes even though price remains Shifts and
Movement

5.When Supply and demand are balanced, it is called Equilibrium

What I can do?

People face a wide variety of financial problems. The trouble might

begin because you have a hard time or a distaste for budgeting, then
it blooms from there into additional issues that can have serious
implications. The key might be as simple as taking the time to identify
the source of the problem. You can begin to fix it from there and take
control of your finances.
Budgeting Problems
You might be having budgeting problems if you're consistently
running out of money before you run out of month, and you find
yourself relying on credit cards to make ends meet. You look at what
you earn and wonder why it doesn't seem to be enough to cover all
your bills even though you earn a good salary.
You might even have a written budget that you try to follow each
month, but it never seems to work. This is a prime indicator that you
have a budgeting problem.  

ADDITIONAL ACTIVITIES
WHAT I HAVE LEARNED
1. When demand exceeds supply, prices tend to rise.If there is an
increase in supply for goods and services while demand remains the
same, prices tend to fall to a lower equilibrium price and a higher
equilibrium quantity of goods and services. If both demand and
supply increase, there will be an increase in the equilibrium output,
but the effect on price cannot be determined. If both demand and
supply increase, consumers wish to buy more and firms wish to
supply more so output will increase.

2. The greatest contribution that students should give to society

is that of ideas. Students also contribute to society through the
organisation of pressure groups especially in situations dealing with
the needy and future generations such as the environmental issues.

WHAT I CAN DO? (ASSESSMENT)

Price per Candle Angge’s Quality Sam’s Quality

Demanded (candles) Demanded (candles)
2 16 32
4 10 24
6 6 16
8 2 8
10 10 4

REFLECTION
As a consumer,we can sustain our needs by following the limitations
in our consumption in our basic needs or commodities. We need to
imitative and utilize our income to satisfy our demands at the most
affordable prices. As a consumer we need to make it profit.