NAME: GANAO, FRANCINE SAYRA S.

SECTION: SAINT MATTHEW

Activity 4.1   Guess What?
Directions: Identify which Philippine government agencies are referred to by matching column A
and column B. 

Column A Column B
1. D - Responsible for preparing, integrating, manipulating, organizing,
coordinating, supervising and controlling all plans, programs, projects
and activities of the government relative to energy exploration,
development, utilization, distribution and conservation.

2. E - Tasked to contribute to the enhancement of national security and the

protection of the territorial integrity and national sovereignty

3.C - Prime mover of consumer welfare. It is committed to protecting the

rights and interests of the consumers and developing policies and programs
aimed at sustaining the growth and development of the Philippine economy.

4.A - Responsible for the formulation, institutionalization and

administration of fiscal policies, management of the financial resources of
the government.

5.B - Responsible to formulate policies, implement programs and services,

and serve as the policy-coordinating arm of the Executive Branch in the
field of labor and employment.
Activity 4.2 Check Your Understanding!
1. What are taxes for?
Taxes are there for our world and environment to be maintained or used for the better. The
government collects money from individuals such as those who work and even those who buy
goods in order to have revenue and maintain our country. Without taxes, our country will be in a
disaster because it is the only way to have funds for the betterment of our country. In other
words, the purpose of taxes is to make the country we live in a better place.
2. What are the ultimate effects to society of shortfalls of tax collection?
Society will be in deep chaos if there would be shortfalls in taxes or if it’s completely gone.
After all, taxes are a way for our country to be maintained. It is a fund that the government uses
for the betterment of our country. Some may steal the money that’s supposed to be for our
country, but it doesn’t change the fact of what taxes are used for. Though I agree that they tax
individuals too much even though some are just stealing them, it doesn’t change the reason for
taxes. They are evil for stealing the money that could help the country, but the purpose of taxes
shouldn’t be invalidated and forgotten.

Activity 4.3 Sum Me UP

Based on the lesson, I have realized that one of the biggest economic issues in our country is
unemployment and also being given the salary that people don’t deserve, which promotes
unfairness as well as poverty. In order for that not to happen, some travel overseas and find work
there for we won’t deny that the salary they get is bigger than the salary they have in our country,
which is the reason why we can’t blame them for choosing to work in other countries than in
their own. After all, there are people who are the breadwinner of their family, which is the reason
why they need money and in order to avoid poverty, the only way they could think of is
migrating overseas and I won’t deny that it’s also the fault of our government and unfair
businessmen who don’t treat people equally. Also, one of the problems why they migrate is also
the large tax that’s being given to them, only for their money to not serve its purpose and being
stolen by those who are sitting in high positions.
Activity 4.4 Data Connection

Research on the dollar to peso exchange rate from the time of the presidency of Diosdado
Macapagal to the presidency of Noynoy Aquino. List down the rates over the years and try to
find reasons for abrupt increases or even decreases in the exchange rate.
 Diosdado Macapagal - P2 to P3.7
 Ferdinand Marcos - P4 to P6
 Corazon Aquino - P20/P21 to P29.47
 Fidel V. Ramos – P30 to 49.98
 Joseph Estrada – highest exchange went up to 55.7
 Gloria Macapagal Arroyo – Php 55.09 to Php 45.11
 Benigno Aquino III – exchange rate changes between P40 to 43

Just like how the cost changes because of supply and demand from the consumer, in this kind of
scenario, the sudden changes in the exchange rate are also because of the supply and demand.
Every year, the rates change, and not just every year, but it could also be every day wherein each
country faces an issue, which is the reason why there is a difference in exchange rate every day.
When the supply is over the demand, the dollar’s value may decrease if we’re talking about the
peso.                Additional Activities
Activity 4.5 Making It Count!
Enumerate 5 common public goods and services the government provides with the taxes we pay.
Are the benefits of these public goods and services worth the taxes your parents pay? Explain.
Paying taxes is like investing but in your own country. Many people ought to think that taxes are
not essential because of things like the government not spending it wisely, stealing them, and
many more, but then, is paying taxes unnecessary? First of all, what are the services that we
benefit from when we pay taxes? Our country needs to be maintained and must develop through
years than letting it rot in the dust and for that, we need funds and money to be able to maintain it
properly. To have money, the government tax individuals to have funds for the country. To
maintain the roads that we step in, the taxes will help for the government or public officials to
provide that. After all, roads become unsteady or unstable when it’s a long period of time, and it
will become a nuisance to all of us, especially that roads are necessary for us to go to places we
want to go, go to work, as well as go to school. With the help of taxes, they would also help
people to have access to free schooling or education by building public schools or offering
scholarships for there are many people who need it for their future. After all, we’re not the same
to each other because even though the Person above us made us equally, we’re not the same to
other people because of the standards, norms, efforts, and many more in this world, making us
unequal to each other. It’s sad, but there are those what we call social classes in this world
wherein there’s someone called as high class, and there’s those who are below them, needing
help because it’s either they’re unable to help themselves, or the help they got is not enough.
Through having taxes, it will help the poor and those who are in need or those who are got struck
by a calamity, making them need the help. However, that’s not just what taxes do to help because
with taxes, people are also able to access healthcare, especially in times of calamities and right
now in pandemic wherein viruses are spreading around the world that affected millions of
people. So with taxes, they were able to provide vaccines for people for it not to affect them at
all. This world constantly needs to be maintained as well as help the people with the use of taxes.
Even those who are undeserving of help, we mustn’t let it take away from them. After all, not all
people who are locked behind the bars are evil. Some are just being framed for them to claim a
crime that’s not theirs, which is the reason why there are rules and regulations that must be
implemented for crimes like that. After all, the law only works on the poor even though they just
did something that’s not that big while justice is only there for the rich. Having taxes will also
provide help to those behind the bars and jailed whether they are evil or good. No, it’s no matter
what they did. To be honest, for me, we all have evilness and goodness inside. We might be evil
to other people, but we are good to some like our families and friends, which is the reason why I
think of some officials like that. They might be evil and greedy, but that doesn’t change the fact
that they were once a good parent, spouse, and a friend to other people. But then, just because
there is evilness inside of us, that doesn’t mean you have the right to be evil to the point that it
could affect other people negatively especially that there are people who are hanging around by
the cliff and a little push, they would fall, which is the reason why I detest government officials
who are stealing the funds that are supposed to provide for our country and act like they did
nothing. But then, just like what I’ve said to previous questions, those who are greedy and
stealing the funds doesn’t change the purpose of taxes, which is the reason why I say that the
taxes that my parents are paying for is worth it, but not totally because not all funds are being
used for the services and help. Most are being pocketed by people who are greedy. But then, if
we’re talking about the benefits of taxes, then I’ll say that it’s worth it.

Name: Ganao, Francine Sayra S. Date: 02/18/22

Section: Saint Matthew Teacher: Ma’am Erika Miranda
Test I. Memory Recall

Directions. Write down the correct answer in the space provided.

Market A place where buyers and sellers interact and engage in exchange.
1.
Demand Reflects the consumer’s desire for a commodity.
2.
Equilibrium Balance 3. It is a condition of balance or equality.
Shortage A condition in the market where the quantity supplied is more the
4. quantity demanded.
Price Floor 5. The legal minimum price imposed by the government on certain goods
and services.
Inflation 6. A general increase in prices and fall in the purchasing value of money.
Contract Price 7. The price agreed by the seller to offer its goods or services for sale and
for the buyer to pay for it.
Market Structure 8. Refers to the competitive environment in which buyers and sellers
operate.
Price Control 9. The specification by the government of minimum or maximum prices
for certain goods and services.
Taxes Are compulsory contributions to support the State. It is considered as
10. the “lifeblood” of a government.

      ASSESSMENT-POST TEST       
Directions. Read the test items carefully and encircle the letter of your     choice that best
answers the statement.
1. There is scarcity of resources because:
A.Man’s wants are unlimited C. Man’s wants are enough
B.Man’s wants are limited D. Man’s wants are satisfied
2. An economic resource that includes the natural resources:
A.Land C. Capital
B. Labor D. Entrepreneur
3. Economics is a social science because it deals with:
A.Human nature C. Experimentation
B.Natural resources D. Plants and animals
4. Another term used for equilibrium:
A. Stable C. Balance
 B. Static D. None of the above

5. It is a finished product which is used to produce other goods:

A. Land C. Capital
B. Labor             D. Entrepreneur
6. It reflects the desire of the consumer for a commodity:
A.Demand C. Market
B.Supply D. Supply schedule
7. In a market equilibrium, a higher price will result to:
A. Shortage C. Constant supply
B.Surplus D. Constant demand
8. Which of the following is true?
A. The supplies of inputs used affect the supply of a good.
B. The lower the price of the good, the smaller the quantity that will be offered by the
supplier.
C. The lower the price of the good, the bigger the quantity that will be demanded by the
buyer.
D.All the above are true.
9. The economic problems are answered predominantly through the price mechanism and
modified through government intervention:
A. Traditional system C. Market system
B. Command system D. Mixed system
10. The economic problem that refers to the nature of goods and services the economy should
produce:
A. What to produce C. How much to produce
B. How to produce D. For whom to produce
11. The market equilibrium for a commodity is determined by:
A. The market demand for the commodity
B. The market supply of the commodity
C.The balancing forces of the demand and supply of the commodity
D.Any of these
12. If the cost of production of pork increases, supply will:
A. Increase C. remain constant
B. Decrease D. It depends
13. The following statements are correct except:
A. Authority to tax is inherent to every state.
B. Taxes are compulsory contributions to support the state.
C. Overseas workers cannot be taxed for their income earned abroad.
D. Taxation regulates the flow of income in an economic system.
14. A market structure that implies an ideal situation for the buyers and sellers.
A.Perfect competition C. Monopolistic competition
A. Monopoly D. Oligopoly
15. The biggest source of government funds:
A.Taxes C. Permits
B.Fines D. Revenues