PERFORMANCE ASSESSMENT 2-1

SY 2023- 2024
2nd Quarter

Name: Raphael Seo Grade: Nine Score:

Social Studies:
Math:

Project Name: Collaborating Subjects: Date of Submission:

The Interaction of Supply Social Studies

and Demand Mathematics

Integrated Lessons:
Supply and Demand
Variations
INTRODUCTION

The intricate interplay between supply and demand lies at the heart of economics, influencing the
very essence of market dynamics. As we navigate the complex web of modern commerce, it
becomes imperative to comprehend these forces and harness them to foster entrepreneurial success.
Supply, representing the number of goods or services available in the market, and demand, signifying
the consumers' desire for those goods or services, are not only fundamental economic concepts but
also the cornerstones of entrepreneurial ventures. The price, as the equilibrium point at which these
two forces meet, is pivotal in determining a product's or service's value in the market. This intricate
relationship between supply, demand, and pricing serves as the bedrock for entrepreneurship.

The purpose of this performance assessment is to challenge students to delve deeply into the
dynamic world of supply and demand and understand their profound influence on entrepreneurial
endeavors. This assessment not only tests their comprehension of these fundamental economic
principles but also invites them to apply this knowledge in the real world. Through a comprehensive
analysis of supply, demand, and pricing, students will be asked to develop a business plan that
addresses market dynamics and incorporates adaptability. Additionally, the mathematical component
will empower them to use data-driven insights to make informed decisions about their entrepreneurial
venture. By engaging in this assessment, students will not only expand their understanding of
economics but also cultivate the critical thinking and problem-solving skills vital for success in the
ever-evolving world of entrepreneurship.

OBJECTIVES

Social Studies
● Determine the economic factors affected by the concepts of supply and demand.
● Explain the effect of supply and demand on the economy and the other factors affecting the
economy. Show the supply and demand graphs (curves) needed.
● Recommend a solution to the problems at hand.

Mathematics
● Illustrate situations that involve variations.
● Translate a relationship between two quantities into a variation equation and graph given a
table of values.
● Solve problems involving variations (e.g. equilibrium point).

ESSENTIAL SKILLS

Strand Skills: Conceptual Understanding, Procedural Fluency, Strategic Competence, Adaptive

Reasoning, Productive Disposition

Transdisciplinary Skills: Critical Thinking, Creative Thinking, Communication, Collaboration

Technological Skills: Word Processing Skills, Web Navigation Skills, Website Design Skills
OVERVIEW OF THE AUTHENTIC ASSESSMENT
Part I: Understanding Entrepreneurship (As a group)
Part II: Understanding the Relationship between Supply and Demand (As a group)
Demand Analysis
Supply Analysis
Price and Equilibrium

Part III: Entrepreneurship Project (As a group)

Business Plan
Pricing Strategy
Market Dynamics

Part IV: Mathematical Investigation - Analyzing Variation

Mathematical Tasks (As a group)
Analyzing Variation

Part V: Mathematical Reflection (Individually)

Part VI. Alternatives and their Impacts (Individually)

CRITERIA

Social Studies

● Background
○ shows the factors that affect the economy; and
15
○ analyzes relevant points about the multiple factors that affect the
economy

● Supply and Demand

○ presents supply and demand graphs and equilibrium points for 30
the sectors involved

● Evidence of Creative, Reflective, and Collaborative Thinking

○ recommends the most feasible solutions and answers from the
following questions;
○ answers all reflection questions meaningfully; and, 15
○ collaborates with and supports partners by asking and answering
questions, sharing relevant resources, offering and providing
assistance during solving, etc.

Mathematics
 ● Evidence of Critical Thinking (Accuracy and Completeness of
Solutions)
40
○ presents accurate 1) supply and demand equations, 2) supply and
demand graphs, 3) equilibrium points for all four (4) sectors

● Evidence of Reflective, and Collaborative Thinking (Creativity of

Proposed Policy, Quality of Reflections, Ability to Collaborate)
○ recommends the most feasible policy after mathematical
investigation and evaluation of proposed policies against a set of
criteria; 10
○ answers all reflection questions meaningfully; and,
○ collaborates with and supports partners by asking and answering
questions, sharing relevant resources, offering and providing
assistance during solving, etc.

● Evidence of Creative Thinking

○ enumerates some ways or plans a country can do to boost the
economy;
10
○ predicts some values using the model and discuss the significance
of the intercepts or vertex;
○ presents output creatively and complete using Google Sites

SPECIFICATION OF TASKS

Part I: Understanding Entrepreneurship

Conduct research about successful businesses in your community and interview the entrepreneur
who founded the business. Inquire about the history of the business, sources of raw materials, the
way the founder interacts with employees, how pricing is done, its prospects ten years from now.
a. What is the name of the business? What is their mission/goal?
b. How did the business start?
c. How has technology, such as computers and the internet, impacted on how the business
operates?
d. What strategies did you follow that helped you land your first sale? Who is their target market
or customers?
e. How do business owners determine the price of their product or service? Under what
circumstances prices might change?
f. How does the business advertise their products?
g. What are the biggest issues for running this business? How did they cope with it?
h. Where does the businessman see himself in the next five years? In the next ten years?
i. What piece of advice did the owner share with you?

We interviewed Bryce’s mom, Bonnie Von Soriano who runs a very profitable business. The family
owns two businesses, one in Mabalacat and the other in Tarlac City which Benjie Soriano, Bryce’s
father runs. The business is about selling high-quality automobile parts such as engines, radiators,
bumps, paint, etc. If your vehicle has something wrong with it, the business has the automobile
parts needed even if the vehicle is a different type of car and brand. Bon Von Auto Supply works
more like a McDo restaurant than a 7/11. You just ask the employees for what they want instead of
finding what you need through the aisles and they will accurately and quickly give the order.

Now, on why Mrs Soriano wanted to start the business. It’s because the business started from
Bonnie Von’s father so when her father retired, she took over the business to continue her father’s
passion. First, they started by buying around 10 jeepneys and rented them to other people. Each
jeepney earns around 500 pesos per day but minus expenses from paying gas and driver, they get
200 pesos daily. So 200 x 10 is 2000, 2000 x 30 is 60,000 pesos per month. They did this for a few
years until they earned enough money to create the business.

Technology hasn’t changed the business much. They use folders for pictures as guides for the
parts however they take advantage of the internet to search and buy products online such as
Lazada and Shopee. There is also CCTV to catch people stealing money and products, both
customers and employees.
One big strategy to land your first sale is to find a good location for people to easily see and
buy your product. The business should be on the highway so cars passing by can see the business
and can easily go to it. If it is in a subdivision, customers have to go out of their way from the main
road, and in most cases will make the travel time for them much longer. There is also the fact that
there is less parking space in subdivisions than on highways. So less demand and fewer recurring
and regular customers can even come to the business.
Another way is the prices. If you start a business and immediately make the prices high, no
one will buy them. Because why would someone buy from a shady and not established business
they have higher prices than a well-known brand? For example, would you spend your time going
to a shop when products could be low quality?
Making the price insanely low can incentivize customers to take the risk of buying the product.
Now when the customers are flooding in, you raise the price. This is the time for you to make a
profit as your business is now known and reliable and people will buy even if the price goes up.
As we already mentioned in the first paragraph, the business targets people who have broken
parts in their vehicles. The business does not repair or fix but they earn a lot of money from the
variety of the parts. They have brands and specific parts from Honda, Toyota, Ford, Nissan, and
more to engines, radiators, bumps, paint, and more. From any year, 1980’s old and 2020’s new, to
any variety of car or truck, SUV, Sedan, Van, Pickup, six and eight-wheeler truck, they have it.

Like all businesses, the price depends on the market, meaning other businesses selling the
same product. Because other profitable businesses know the right price to maximize profit while
having many customers. However, the profit of each item sold differs between different products.
Fast-moving items (FMCG) have less profit as they have a high turnover rate and are sold within a
short period. These items would be milk, gum, fruit, vegetables, etc, but for this case it would be
motor oil and screws. On the other hand, imported items from Japan and Korea have higher profits
because they are imported with costs money. Prices may change because of the law of supply and
demand. When there is less supply like imported items being produced less, they get rarer so
 prices go up. Let’s say people want to paint suddenly because high temperatures in summer
destroy the paint. The demand goes up, so you capitalize and raise the prices.
Bon Von Auto Supply isn’t advertised through social apps and posters. It’s not even advertised at
all. This is because the name doesn’t roll off the tongue and advertising costs money and takes
time. So they operate by word of mouth.
The lack of availability of the parts is the biggest problem. It’s hard to find reliable and credible
suppliers that give a good price. There are often scammers who run away with the money without
giving you anything. The hardest part is when you have a reliable supplier but they don't have a
specific product. So, you have to find another supplier to just find one product which takes a lot of
time. This problem escalated further during COVID-19 when suppliers just had fewer products that
the business needed.
The business did not cope with this, they just persevered by continuously calling different suppliers.
They manually picked out the suppliers and picked the reliable ones from the scammers.
For the next 5 to 10 years the business will not be changing. Because this type of business is really
hard to change and expand. The business requires a lot of work for one person to do and the owner
has no plan to give it to someone else. but the owner will focus on the business, being more
organized and less messy in getting the products and listing down the products in stock, and not in
stock. They will do this by making it more digital like using devices to find the products that are in
stock and using signs on the aisles for finding the product faster so the customer won't leave.
“ If you want to go into this type of business, you have to be knowledgeable on how the business
operates and what you are selling”, said Mrs. Soriano. You need to be smart about business by
knowing the ins and outs. Money is also very important for this because without money it is
impossible to make a shop and the supply for it. But the biggest advice she gave us is to be
passionate and determined.

Part II. Understanding the Relationship between Supply and Demand

In this part, explore the concept of supply and demand through the lens of entrepreneurship. Using
your service learning program funding plan, provide what is being asked:

Demand Analysis:
a. State the current demand for your product or service in your local or a specific market.
b. Identify the factors affecting demand for your product or service.
c. Explain how changes in these factors can impact demand.

Supply Analysis:
a. Identify the current supply of your product or service in your local or a specific market.
b. Identify the factors affecting supply for your product or service.
c. Explain how changes in these factors can impact supply.

Price and Equilibrium:

a. Determine the current market price of your product or service.
b. Discuss how the interaction of supply and demand affects the equilibrium price and quantity in the
market.
Demand Analysis:

Our group's business, Kefi-Eats, sells only three products, which are food, including flavored popcorn
(barbeque, sour cream, honey butter, salted and cheese flavor), drinks( buko shake, and buko juice), and
choco chips. Our business's current demand is the buko shake producing 15 - 30 bottles per week, of
which we always sell out, and popcorn producing 10 - 25 popcorn bags per week, of which we don't
always sell out. Our group only produced 8 bottles of buko juice during the EOT field trip for our school
and sold out, however, every week we encounter students wanting more buko juice. As for our chocolate
chips, we don't produce or sell any at all. Our group takes advantage of onsite school day breaks for
selling, especially Thursdays because it's PE day and Grades 7 to 9 have the same lunch break time.
While buko shake and barbeque popcorn are in high demand, the slightly elevated interest in our buko
shake highlights its popularity among consumers.

The main factor affecting the demand for our products is mainly the price. In our business, we make
sure to make our products affordable and cheap for our target audience(students and teachers) while
making a good amount of profit within our sales.

Non-price factors affecting our product’s demand mainly include income, price of complementary or
substitute goods, taste and preferences, expectations, and population. A change in the students'
allowance will affect the demand for our products, due to their cost being 80 pesos for buko shake, 80
pesos for popcorn, and buko water for 50 pesos. We plan to sell the choco chips for 100 pesos in the
future of our business. If the students' allowance or income will lessen, then the demand for our products
will decrease. Naturally, A change in prices of the materials used to make our group's products will cause
the price of our products to increase and therefore will lessen the demand for our products. The tastes and
preferences of our target audience, the students, and faculty of Brightwoods School might change
depending on their age, gender situation or need, habits, and the weather. Students might prefer our
products over the teachers. Hot weather PE days bring higher demand for cold and a refreshing buko
shake for example. Likewise, cold weather decreases the demand for buko shakes. Needless to say, if our
consumers are expecting the cost of our product to increase due to inflation of the materials used to make
the product, it will lessen the demand. Then as you might expect, the population of our school will most
definitely change the demand for our product. If there are fewer people in our school then the demand will
decrease and vice versa.

Supply Analysis:

The current supplies of our products are as follows:

Approximately 10 - 25 popcorn bags per week, of which 60% - 80% were pre-ordered products via our
official Instagram account.
Approximately 15 - 30 buko shakes per week, of which 60% - 80% were pre-ordered products via our
official Instagram account.
Buko juice was only produced for EOT and it was not more or less than 8. Buko juice is still considered
one of our business’s products but we currently do not have a specific plan of producing it more unless
there will be a pre-order from customers.
Choco chips are about to be our products but as of now, there is no recorded supply or demand.
 One of the main factors that affect our supply is the specific demand for our goods. We prepared
approximately 5 more goods than the pre-ordered quantity. If the demand goes up, then naturally our
supply also goes up for our business to have extra products for each day for people who are willing to buy
but have yet to pre-order. If the demand shrinks, then it is vice versa. The second factor that determines
our supplies is the price of factors of production. Of course, if the price of the ingredients that are used in
the production of the goods increases, then the supply of that certain good whose production cost
increases will decrease unless our business adds more investment on that product to maintain the supply.
Also vice versa if the production cost decreases. The third factor that affects our supplies is the availability
of opportunities to sell the products. Because we are only selling at school and the Sportsfield, it will
greatly affect our supplies when the classes are sometimes suspended due to unexpected climate
disturbances, transportation unavailability, etc. The last main factor could be technological improvement.
However, this is not having a great change on our supply since we do not have any intention to invest
much money to buy a machine. Also, our business is only operated for a short period, so it won’t have a
great chance of the technology significantly developing within our execution of service learning program.
Many other factors could affect our supplies but most of them are minor or not applicable to our business.
These factors include the price of related products, expectations, and several producers.

Price and Equilibrium:

The price of our products ranges from 50 to 80 pesos. Our buko shake and our flavored popcorn cost
80 pesos, buko juice costs 50, and planning 100 pesos for choco chips in the future.

The interaction of supply and demand in a market profoundly influences the equilibrium price and
quantity. The equilibrium point is where the quantity demanded by consumers matches the quantity
supplied by producers. According to the laws of demand and supply, as the price decreases, the quantity
demanded typically increases, while the quantity supplied decreases. Conversely, as the price increases,
the quantity supplied tends to rise, and the quantity demanded falls. Changes in market conditions, such
as shifts in consumer preferences, production costs, or external factors, can lead to alterations in supply
and demand. When demand exceeds supply, the equilibrium price and quantity rise, whereas an excess
of supply over demand generally leads to a decrease in both equilibrium price and quantity. This dynamic
interplay between supply and demand is fundamental to understanding market behavior and pricing
mechanisms.

Part III: Entrepreneurship Project

In this part, apply your knowledge of supply and demand to entrepreneurial activities. Each group will
create the following:

Business Plan:
a. State the business plan for the venture you have in your service learning program funding plan.
b. Explain how the business plan addresses the findings from the demand and supply analysis.

Pricing Strategy:
a. Determine the pricing strategy you had for your product or service.
b. Justify your pricing strategy based on supply and demand factors.

Market Dynamics:
a. Describe how the chosen business will adapt to changes in market conditions.
b. Identify potential challenges and opportunities arising from shifts in supply and demand.

Business Plan:

a.
The grade 9 batch will raise funds in a variety of methods. To raise funds, we planned to sell
consumables such as chocolate/biscuits, popcorn, etc., toys (lato-lato) and drinks such as buko
shakes as a group. The products sold would primarily target teachers and students in both grade
school and high school, as both grade school and high school enjoy a variety of foods and
beverages. Students would be able to choose from many flavors of popcorn including, barbeque,
cheese, sour cream, honey butter, butter, salted, and more if we will be adding other flavors in the
future. We would also ask for donations and engage in entertainment events to attract people's
attention such as our EOT field trip. This will happen before each onsite class, at breaks and
lunchtime, and if time allows, during dismissals, if ever it will. Although we have ways of fundraising,
the main source of it is believed to be the selling of food and beverages as mentioned.

b.
Based on our analysis of our products such as buko shake, buko water, flavored popcorn, and
choco chips, the supply and demand of each product are different from one another. The demand
for buko shake and buko juice is exceeding the supply with it selling out every week and people
wanting more. The demand for popcorn is less than the supply with our group always having
leftover bags of popcorn every week if ever we don't have pre-orders. We have no demand for
chocolate chips and no supply even if we are advertising the product, no one is demanding this
product.

Buko demand and supply are the same. popcorn demand is lower than supply.

Pricing Strategy:

a.
In our SLP group, we did not have that big of a deal when it came to the pricing system. What
we did was add all the prices of the ingredients used in a certain product and calculate the
production cost per item. Then, we just added about 10 to 20 pesos to the production cost of each
item not just so that it wouldn’t be too expensive as a customer price but also because it is
profitable for us.

b.
As we adjust the prices of our product, we have observed that as we set the product to a high
price, the number of people willing to buy the product decreased. On the other hand, as we lowered
the price of the product, many people were willing to buy our product. Based on this observation,
we decided to set the price as low as possible while getting only a small amount of benefit from it.
Through this decision, we were able to increase the total number of sales.

Market Dynamics:

a.
Our business group is looking forward to adapting to changes in the market conditions in many
ways. Here are some of our plans to adapt to the changes in the market conditions. First, market
 research and analysis. We can stay informed about industry trends, customer preferences, and
competitor activities through regular market research, and use data analysis to gain insights into
customer behavior and market dynamics. Secondly, technology integration. We could embrace
technology to enhance efficiency and competitiveness and invest in digital transformation to
streamline operations, improve customer experience, and stay ahead of technological
advancements. Next, a customer-centric approach. We could focus on understanding and meeting
the evolving needs of our customers which could help in gathering feedback and engage in
continuous improvement based on customer preference. Lastly, risk management. We can identify
and assess potential risks to our business, as well as develop risk mitigation strategies to minimize
the impact of unexpected events.

b.
Challenges
Well as high school students who are learning about how supply and demand work through our
SLP program, there are some risks and opportunities we can take from shifts in supply and
demand. Post notables are the income of our target audience and the income of the producers
such as ourselves. The more money our target audience has, the more they can buy more goods
from us and we get the benefit by getting a higher income. However, if our target audience has a
low income then we will also get a low income. People's tastes and preferences are different from
each other. Maybe some students like our favored popcorn for example but more people dislike it.
Then that would be a problem for us because we would be left with more supply than demand. As a
business in our school, of course, we have competition with our classmates, batchmates, and in
general, people who sell goods in our school. They might have a product that is cheaper and much
better than ours. That would result in us losing more consumers or demand.

Opportunities we can take from shifts could be students who have high incomes and want our
products, then we would get more money increasing our profit. Our products may satisfy the taste
and preference of students in Brightwood and since they would love our products, the demand will
increase. More people in Brightwood can increase the probability of us selling our goods to the
people.

Part IV: Mathematical Investigation- Analyzing Variation

This section will further explore the effects of the issue on the following sectors. Given the following
table of values for supply and demand for each sector, generate the following information to further
guide you in developing an action plan that will benefit some, if not all, of these sectors:
● supply equation
● demand equation
● graphs
● equilibrium point

1. Use Google Jamboard screenshots or clear photos of your neatly handwritten work for your
solutions and the GeoGebra Graphing Calculator for the graphs.
2. Use the two-point form of the equation of a line in solving the supply equation. Leave it in the
slope-intercept form.
3. When solving for k in the demand equation, round it off to the nearest whole number.
4. When solving for the equilibrium point, use the quadratic formula.

a. Business Sector: a phone accessories store

 Price Supply k

Php 40 70 2

Php 60 185 3

Php 80 400 5

Php 100 555 6

Php 120 890 7

Price Demand k

Php 40 180 7200

Php 60 120 7200

Php 80 90 7200

Php 100 72 7200

Php 120 60 7200

Supply Equation Demand Equation

𝑦 −𝑦 𝑘
𝑦 − 𝑦 = 2 1
(𝑥 − 𝑥 1) 𝐷 = 𝑃
1 𝑥 2
−𝑥 1

Given
Given
D = 180
(40, 70)
p = 40
(120, 890)
Solution
x = price(p), y = supply(S)
𝑘
x1 = 40 x2 = 120 180 = 40
y1 = 70 y2 = 890
180 𝑘
1
= 40
Solution

890 − 70 (𝑘)(1) = (180)(40)

𝑦 − 70 = 120 − 40
(𝑥 − 40)
k = 7,200
820
𝑦 − 70 = 80
(𝑥 − 40)
𝑘
𝐷 = 𝑃
y - 70 = 10.25 (x - 40)
7200
𝐷 = 𝑃
y - 70 = 10.25x - 410
y = 10.25x - 410 + 70

y = 10.25x - 340

S = 10.25p - 340

Supply Graph Demand Graph

Equilibrium Point

Given

7200
𝐷 = 𝑝

𝑆 = 10. 25𝑝 − 340

Solution

D=S

7200
𝑝
= 10. 25𝑝 − 340

7200
𝑥
= 10. 25𝑥 − 340

7200
𝑥( 𝑥
) = 𝑥(10. 25𝑥 − 340)

2
7200 = 10. 25𝑥 − 340𝑥

2
10. 25𝑥 − 340𝑥 − 7200 = 0

a = 10.25
b = -340
c = -7200
 2
−𝑏 ± 𝑏 −4𝑎𝑐
2𝑎

2
−(−340) ± (−340) − 4(10.25)(−7200)
2(10.25)

340 ± 115600 + 295200

20.5

340 ± 410800
20.5

340 ± 640.9368144 340 ± 640.94

20.5
≈ 20.5

340 ± 640.94
20.5

340 + 640.94
𝑥 1
= 20.5

980.94
𝑥 1
= 20.5

𝑥 1
= 47. 85073171 ≈ 47. 85

𝑥 1
= 47. 85

340 − 640.94
𝑥 2
= 20.5

−300.94
𝑥 2
= 20.5

𝑥 2
= − 14. 68

𝑥 2
= − 14. 68

E.P. = 47.85

b. Health Sector: a pharmaceutical company that claims to have a cure for the side effects

Price Supply k

Php 200 405 2

Php 250 735 3

Php 300 1100 4

 Php 350 3200 9

Php 400 5010 13

Price Demand k

Php 200 630 126000

Php 250 504 126000

Php 300 420 126000

Php 350 360 126000

Php 400 315 126000

Supply Equation Demand Equation

𝑦 −𝑦 𝑘
𝑦 − 𝑦 = 2 1
(𝑥 − 𝑥 1) 𝐷 = 𝑃
1 𝑥 2
−𝑥 1

Given
Given
D = 630
(200, 405)
p = 200
(400, 5010)
Solution
x = price(p), y = supply(S)
𝑘
x1 = 200 x2 = 400 630 = 200
y1 = 405 y2 = 5010
630 𝑘
1
= 200
Solution

5010 − 405 (𝑘)(1) = (630)(200)

𝑦 − 405 = 400 − 200
(𝑥 − 200)
k = 126000
4605
𝑦 − 405 = 200
(𝑥 − 200)
𝑘
𝐷 = 𝑃
y - 405 = 23.03 (x - 200)
126000
𝐷 = 𝑃
y - 70 = 23.03x - 4606

y = 23.03x - 4606 + 405

y = 23.03x - 4201

S = 23.03p - 4201
Supply Graph Demand Graph

Equilibrium Point

Given

126000
𝐷 = 𝑝

𝑆 = 23. 03𝑝 − 4201

Solution

D=S

126000
𝑝
= 23. 03𝑝 − 4201

126000
𝑥
= 23. 03𝑥 − 4201

126000
𝑥( 𝑥
) = 𝑥(23. 03𝑥 − 4201)

2
126000 = 23. 03𝑥 − 4201𝑥

2
23. 03𝑥 − 4201𝑥 − 126000 = 0

a = 23.03
b = -4201
c = -126000

2
−𝑏 ± 𝑏 −4𝑎𝑐
2𝑎

2
−(−4201) ± (−4201) − 4(23.03)(−126000)
46.06

4201 ± 17,648,401 + 11,607,120

46.06
4201 ± 29,255,521
46.06

4201 ± 5,408.837306 4201 ± 5408.84

46.06
≈ 46.06

4201 ± 5408.84
46.06

4201 + 5408.84
𝑥 1
= 46.06

9609.84
𝑥 1
= 46.06

𝑥 1
= 208. 6374294 ≈ 208. 64

𝑥 1
= 208. 64

4201 − 5408.84
𝑥 2
= 46.06

−1207.84
𝑥 2
= 46.06

𝑥 2
= − 26. 22318715 ≈ − 26. 22

𝑥 2
= − 26. 22

E.P. = 208.64

c. Educational Sector: a book store supply who would like stationaries to be the store’s main
product.

Price Supply k

Php 12 1344 112

Php 15 1815 121

Php 18 2970 165

Php 21 4158 198

Php 24 5664 236

Price Demand k
 Php 12 2100 25200

Php 15 1680 25200

Php 18 1400 25200

Php 21 1200 25200

Php 24 1050 25200

Supply Equation Demand Equation

𝑦 −𝑦 𝑘
𝑦 − 𝑦 = 2 1
(𝑥 − 𝑥 1) 𝐷 = 𝑃
1 𝑥 2
−𝑥 1

Given
Given
D = 2100
(12, 1344)
p = 12
(24, 5664)
Solution
x = price(p), y = supply(S)
𝑘
x1 = 12 x2 = 24 2100 = 12
y1 = 1344 y2 = 5664
2100 𝑘
1
= 12
Solution

5664 − 1344 (𝑘)(1) = (2100)(12)

𝑦 − 1344 = 24 − 12
(𝑥 − 12)
k = 25200
4320
𝑦 − 1344 = 12
(𝑥 − 12)
𝑘
𝐷 = 𝑃
y - 1344 = 360 (x - 12)
25200
𝐷 = 𝑃
y - 1344 = 360x - 4320

y = 360x + 1344 - 4320

y = 360x - 2976

S = 360p - 2976

Supply Graph Demand Graph

Equilibrium Point

Given

25200
𝐷 = 𝑝

𝑆 = 360𝑝 − 2976

Solution

D=S

25200
𝑝
= 360𝑝 − 2976

25200
𝑥
= 360𝑥 − 2976

25200
𝑥( 𝑥
) = 𝑥(360𝑥 − 2976)

2
25200 = 360𝑥 − 2976𝑥

2
360𝑥 − 2976𝑥 − 25200 = 0

a = 360
b = -2976
c = -25200

2
−𝑏 ± 𝑏 −4𝑎𝑐
2𝑎

2
−(−2976) ± (−2976) −4(360)(−25200)
2(360)

2976 ± 8,856,576 + 36,288,000

720
 2976 ± 45,144,576
720

2976 ± 6,718.97135 2976± 6,718.97

720
≈ 720

2976± 6,718.97
720

2976 + 6,718.97
𝑥 1
= 720

9,694.97
𝑥 1
= 720

𝑥 1
= 13. 46523611 ≈ 13. 47

𝑥 1
= 13. 47

2976 − 6,718.97
𝑥 2
= 720

−3,742.97
𝑥 2
= 720

𝑥 2
= − 5. 198569444 ≈ − 5. 19

𝑥 2
= − 5. 19

E.P. = 13.47

Part V: Mathematical Reflection

a. What type of variation exists between price and supply? Explain your answer.
b. What type of variation exists between price and demand? Explain your answer.
c. What did you personally learn or realize about yourself and about our lessons through this
activity?
d. If you are to rate your level of involvement or participation in this activity, with 3 being the
lowest and 5 being the highest, what score will you give yourself and why? Explain by citing
your contributions.
e. If you are to rate the level of involvement or participation of your partner in this activity, with 3
being the lowest and 5 being the highest, what score will you give each of them and why?
Explain by citing his/her contributions.

a. The variation that is present in the relationship between price and supply is the direct variation.
As the price goes up, the supply will also go up because the firms will produce more goods as
higher-priced goods are more profitable. Besides, if the price falls, then the supply will also
decrease as the decrease in price makes the profit less.
b. On the other hand, the variation between the demand and the price of a good is an inverse
variation. When the price goes up, it will decrease the demand, and the substitution effect can
explain this. It tells us that the price increase of certain goods makes other goods look cheaper and
leads individuals to demand less of the goods whose prices increased. Also, the income effect has
a portion. The income effect tells us that the price increase will make one's income seem smaller
and discourage individuals from purchasing the goods.
c. I have realized that I enjoy doing math. As I continued getting the answer for each sector in Part
IV, I was not feeling bored or forced to do it but I actually was enjoying doing those substitutions. I
believe it is because math has a solid and sure answer to anything which makes it fun to learn. I
have also learned that difficult mathematics could be utilized in the economy. I never thought that
the mathematics that we learned and will get to learn in grade 9 could be used in such a way to get
the demand equation, supply equation, and equilibrium point. Also, it was my first time encountering
the concept of a “sweet spot” or the equilibrium point, so it was really challenging but fun throughout
the task.
d. I would rate myself a 5 out of 5 in this particular assessment. It is because I did my part
thoroughly in accomplishing the task. I got the demand equations, supply equations, and
equilibrium points for 2 sectors and also was able to get the graph of the equations using
GeoGebra. Also, I believe that my group mate and I did a satisfying job that no one would think he
doesn’t deserve a good grade.
e. I would of course give my partner a solid 5, too. It is because, together with me, he fulfilled what
he had to do. We assigned parts for each of us to answer and shared the answer to double-check
it. He definitely was cooperative throughout the task and deserves a 5.

Part VI. Alternatives and Their Impacts

In this section, analyze two to three problems you have encountered with your entrepreneurship
venture. For each problem, analyze the possible alternatives or solutions you have done. Consider
the questions below:
● What are the problems you have encountered on your funding plan?
● What alternatives or solutions did you use to solve them? Why?
● What realizations have you made after the interview and your experience in your funding plan?

Of course, one of the problems that we encountered in our group’s fundraising plan was how to reach the
target amount of funds. We thought of many ways to earn money such as selling food products, toys,
anonymous jars, donation jars, and collecting stuff and selling them at the junk shop. We have taken our time
in analyzing the best option for this and we came up with the conclusion that we are mainly going to get the
funds from selling foodstuff. It is because to reach our target amount of funds, selling food will be the most
effective way for us, students, to do this. One of the other problems that our group had to face was what we
were going to sell. We have thought about this for the entire time of 1st quarter and we were able to come up
with foods like cookies, biscuits, chocolates, or popcorn. Since we thought that the popcorn was the easiest
to make and, at the same time, the most profitable product we chose to sell handmade popcorn with flavors
such as BBQ, cheese, sour cream, honey butter, and salted. Then, we gradually were able to come up with
new product ideas such as buko shakes and juices, as well as choco-dipped chips. The last problem that we
encountered was the pricing of our products. Since we prioritized reliable sources of ingredients and
packaging, our production cost was very high. We have realized that some of the items that we have
prepared and tested out were overpriced than what it actually looks like it costs. We tested substitute
ingredients to lessen the production cost and we were able to look for the right ingredients to use in popcorn,
buko shake, and buko juice.
I was able to learn a lot of things through the interview that we held, such as tips, requirements, and
mindsets of a good business. I realized that to become a successful business owner, one has to have the
courage to lose everything and try the best out of them. As I analyzed the tips and sayings from Bryce’s
mother (the interviewee), I realized that it needs tons of effort and bright decisions to make your business
successful. I also realized that to actually apply those tips and execute them in real life, it takes a lot of effort
and courage that would support your will to reach your goal. From our SLP funding process, I learned that
business, even if the size is not that big, is always really difficult. I thought that this year’s SLP program
would be just slightly harder than last year’s but I realized that it actually requires countless effort, time, and
attention to facilitate a business. The fact that we are only selling inside the school made me think like this is
not a big deal but I realized that there are tons of things to look for and care even in just a small business like
this such as the ingredients of the product, packaging, advertisement which includes what to post on
Instagram, testing of the products, complains from the customers, selling of the products, pre-orders, and a
lot more.