Basic Microeconomics

BASIC MICROECONOMICS
2A BSBA - GROUP1
Mary Ryne Bautista

Noemi Liberato
Jesiel Malupa
Marisol Llabore
Rovele Ivy Silud
Joderose Montero
Jevalyn Nicolas
Crisaline Fajiculay
Jessica Madali
John Jenkin Malay
Rasky Gabunada
Mark John Cataraja
TABLE OF CONTENTS
1 Introduction 2
2 Body 2
2.1 Student 3
2.2 Unemployed/Self-Employed 4
2.4 Employed-Private Employee 5
2.5 Employed-Government Employee 7
2.5 Migrants/Aliens 8
3 Conclusions 10
4 Acknowledgment 11
5 References 11
1
1 INRODUCTION
In this interview, we begin the formal study of microeconomics by examining

the economic behavior of the consumer. A consumer is an individual or a household
composed of one or more individuals. The consumer is the basic economic unit that
determines which commodities are purchased and in what quantities. What are the
features that they look for from a product and what are the type of advantages that they
hope a product offers? These are some of the important questions to which we seek
answers in this interview.
People have numerous wants, but their resources are limited. Consequently,
they cannot satisfy all their wants. Consumers have to decide on how to allocate the
limited resources in order to satisfy the numerous wants. However, the right decision
has to be made in order to avoid wastage of resources and to achieve the highest
level of satisfaction. Thus, it is important to investigate the factors that influence
allocation of resources or consumer behavior. Additionally, understanding consumer
behavior helps manufacturers to produce goods that meet the consumers’
expectations.
Our first interviewee in different categories of consumer is Vevilyn M. Mingo,

23 years old, a freshly graduate student of Romblon State University. Arvin M.
Mangaring, 27 years old, a Self-Employed that owns a pastry business. Josh
Bernard Malay, 27 years old, an Employed-Private Employee of a tailoring business.
Myla M. Malay, 27 years old, an Employed-Government Employee. Teaches at
Brgy. Bagacay Elementary School. And lastly, Daniela/Stephen, 56 years old. A
Migrants/Aliens who came from Europe to visit in Romblon to buy some local
products that we produce.
2 BODY
The survey included a small number of respondents who were the general
people, and we has been found that the majority of the respondents belonged to the
adult group and matured group who might be into their service life and this reveals
that the concept of online shopping is not a play game for teenagers or the kids but
even the matured ones take this concept as a helpful tool of life
In the survey, the respondents have majorly favored this concept and have
opted for the online service. The information about the product and its quality helps
adding more satisfaction to the customers. Customer satisfaction is the main and
foremost demand or rather desire of the sellers and this could be refined through
providing more as well as factual details of the product. Both the customers and the
seller get a scope of expansion and receiving and delivering a comprehensive
service, respectively.
2
Our first Interviewee for conducting and recording a video in relation to our Basic
Microeconomics subject regarding the Consumer behavior and decisions,
satisfaction and consumption in different categories of consumers is,
2.1 STUDENT
o Name:
 Her name is Vevilyn M. Mingo, a freshly graduate students of RSU-
Romblon Campus.
o Age:
 She is 23 years old.
o Hobbies:
 Her hobbies is more on playing online games
o What is your family income?
 Her family income is they have a family business.
o What do you do for a living?
 For now on, she said none.
o What is your educational qualification?
 Her educational qualification is, Graduate of Bachelor of Science in
Business Administration in ROMBLON STATE UNIVERSITY.
o Where do you reside?
 She live in Brgy. Agnay, Romblon Romblon.
o What are the features that you look for from a product?
 The features that she look for from a product is more on clothes.
o What are the type of advantages that you hope a product offers?
 The type of advantages that she hope a product offers is a good item.
o Who is in charge of making purchase decisions in your household?
 The in charge of making purchase decisions in their household is her
relatives.
o Do you buy products from a store or online? What is the impact of having
online shopping to you?
 She buys a products more from online. The impact of having online
shopping to her is, there’s a positive and good item.
o Have you set a budget for this purchase? If yes, how much? If no, why?
 She set a budget for her purchase and it cost less than 500 pesos.
o What do you prefer, branded or local products, why?
 She prefer branded products because, it can be sure that the item is in
good condition once you receive it.
o What is the impact of advertisement on your purchasing decision?
 The impact of advertisement in her purchasing decisions is she can be
sure that the item she receive won’t disappoint her.
o How do you purchase? Retail or wholesale why?
3
 She purchase a product/item in wholesale.
o Has the rise in inflation change everything in your daily life?
 She said that the rise in inflation change everything in her daily life
sometimes.
o Have you changed your purchasing practices as a result of rising inflation,
how?
 She said that, she did not change her purchasing practices as a result
of rising inflation.
o What factors or things you consider in terms of your consumptions?
 She don’t have an answer regarding this question.
o How do you define satisfaction as a consumer?
 She define satisfaction as a consumer if, she get the products/items
that she bought especially if it is legit.
o What is the most underrated brands for you, why?
2.2 SELF-EMPLOYED
o Name:
 His name is Arvin M. Mangaring.
o Age:
 He is 27 years old.
o Hobbies:
 His hobbies is cooking.
 His family income is about 10 thousand pesos a month.
 They have a business for a living.
 His educational qualification is, high school graduate.
 He lives in Brgy. Cajimos, Romblon, Romblon.
 I didn’t heard his answer clearly because of loud noises around the
area.
 The type of advantages that he hope a product offers is, the taste if it is
delicious.
 The in charge of making purchase in their household is him.
4
 He buys a product both from store and online. The impact of having
online shopping to him is, the easy transaction.
 He set a budget for his purchase and it costs above 5 thousand pesos.
 He said that, he prefer branded products and he didn’t mention why.
 He doesn’t have an answer regarding this question.
o How do you purchase? Retail or wholesale? Why?
 He purchase the product/item in wholesale and he didn’t mention why.
 He said yes that the rise in inflation changed everything in his daily life.
how?
 I didn’t heard his answer clearly because of loud noises around the
area.
 The factors or things that he consider in terms of his consumptions is
budgeting for food consumption.
 He define satisfaction as a consumer that, to buy a good product or
item.
 He don’t have an answer regarding this question.
2.3 EMPLOYED-PRIVATE EMPLOYEE
o Name:
 His name is Josh Bernard Malay.
o Age:
 He is 27 years old.
o Hobbies:
 His hobbies are basketball, playing cp and computer games, and
reading.
 Their family income is about 50 – 100 thousand per month and it is
also depends on season.
 The thing they do for a living is they have sewing shop.
 His educational qualification is, graduate of bachelors degree.
5
 They’re living at Brgy. Bagacay, Romblon, Romblon.
 The features that he look for from a product is the good quality of an
item.
 The type of advantages that he hope a product offers is the good
service, comfortable, presentable and good looking.
 The in charge of making purchase decisions in their household is his
parents.
 He said that, he buys a products both from online and sometimes in
store. The impact of having online shopping to him is the fast
communication, fast transaction, and its better now through online.
 He did not yet set a budget for the purchase because most of the
products they buy are actually in in the store and not online yet so they
can choose cheap products and get cheaper because when you
purchase online, its hard to find a supplier of a product or item with a
cheaper price.
 He said that he prefer branded products because, its more durable,
tried and tested and the quality has been honed.
 He said that advertisement have a great impact especially if customers
see or know that they sell such products.
 He prefer to purchase the product wholesale because the more they
buy, the cheaper the price.
 He said that when inflation increases, the price of the products also
increases.
how?
 He changed his purchasing practices as a result of rising inflation for
looking for a cheap product so they don’t lose money because as
inflation increases, the price can’t go higher, so they look for a cheaper
one.
6
 The factors or things he consider in terms of their consumptions is, be
wise in buying and then find a good supplier.
 He define satisfaction as a consumer that we need to have a money to
enjoy buying things.

 The most underrated brands for him is blue corner for clothes and
puma and anta for the shoes.
2.4 EMPLOYED-GOVERNMENT EMPLOYEE
o Name:
 Her name is Myla Morada Malay
o Age:
o Hobbies:
 Her hobbies are cooking and singing.
 Her family income range is about 30 thousand pesos above and
sometimes below 20 thousand pesos a month.
 She teaches at Bagacay Elementary School.
 Her educational qualification is a Professional Teacher.
 They’re living at Brgy. Bagacay, Romblon, Romblon.
 The features that she look for from a product is the quality.
 The type of advantages that she hope a product offers is, the good
quality, low price and affordable.
 The in charge of making a purchase decisions in their household is
her.
 She buys a product both in stores and online. The impact of having
online shopping to her is, less time consuming and not hassle.
7
 She said that, she set a 5 thousand pesos budget for the purchase
because, it’s hard if she don’t allocate a budget, if the products/items
arrives, and then she don’t have nothing to pay for.
 She prefer both branded and local products because she said that ,
there are local products that look likes branded and then, there are
branded ones that looks local.
 The impact of advertisement to her in purchasing decisions is to have
an idea of what that product is.
 She prefer to purchase product both retail and wholesale and she
didn’t mention why.
 The said that, the rise in inflation change everything in her daily life.
how?
 She change her purchasing practices as a result of rising inflation
because, now the price of rice is high so if you purchase from others
that are cheaper, you manage your income according to what you buy
so it will give effects to them.
 She defines the satisfaction okay as a consumer.
2.5 MIGRANT/ALIENS
o Name:
 Their name is Daniela/Stephen, they didn’t mention their surname.
o Age:
o Hobbies:
 Her hobbies are hiking, cooking, swimming and have a lots of hobbies
and interest.
 Their family income is about 3000EUR a month.
 Helping people to find a job and personal coach is the things they do
for a living.
8
 Her educational qualification is a bachelor.
 They’re living in Austria, Europe.
 The features that they look for a product is, the look properly, look nice
and it has a brand name.
 The type of advantages that she hope a product offers is, it should
make his life easier and nicer.
 The in charge of making purchase decisions in their household is, her.
 They said that they buys a product mainly from the store. They also
said that the impact of online shopping to them is, it makes easier to
them if they don’t have time, they can do it shopping after work at
home.
 They said that, they compare always the price of some product. They
don’t stop to have a budget and decide to look around the price of the
product and then decide which is best.
 They said that it depends, because they’re here in Romblon to find
local products. They also mention that the product they buy online is
mainly branded.
 They said that nobody knows what is the impact of advertisement in
their purchasing decision.
 They said that they purchase retail because they like the personal
context.
 They said that the rise in inflation change everything in their daily life
because, every body feels it, every thinks it’s more expensive so they
choose to buy something they choose before and they make reasons.
So yes, it has change because the decisions take longer.
o Have you changed your purchasing practices as a result of rising Inflation,
how?
9
 They changed their purchasing practices as a result of rising inflation
because, their decisions take longer because they think twice before
they buy that product.
 They don’t have an answer regarding this question.
 They define satisfaction as a consumer, if the product they buy keeps
them fun or it makes their life easier and thinks afterwards they
understand if it’s good or not, it makes them happy if it works and
upset if it’s not.
 They don’t know what’s the most underrated brands for them.
3 CONCLUSIONS
This study helps to understand that customer satisfaction is one of the

essential things for any organization because it helps the organization to enhance
their positive reputation in the market as well as it helps the organization to enable
more financial benefit in the organizational context. From the following’s sections, it
can be concluded that customer satisfaction basically refers to the customer's
happiness means if a customer is happy with the product and the service quality
then the customer shows positive views towards to that product of a store.
From the study, customer satisfaction is the customer’s fulfillment response

means when a customer happy with the service and the product quality then the
customer shows their loyalty towards the store and used to buy the products from
that store again which enable more financial benefit in the organizational context.
From the concept of customer satisfaction point it can be concluded that stores are
showing their motivation for providing best quality service to their old customers as
well as the stores are providing new offers and discounts on their products as it will
help the organization to attract more new customers which will enable more
satisfactory performance of the employees in the organizational context.
This study helps to understand the importance of the online shopping on

improvising the customer satisfaction in the retail store. The proper strategies help to
understand that how an organization should implement the online shopping in the
organizational context and the key factors which the organization must need to
ensure at the time of implementing strategies for enabling online shopping in the
organizational context. Online shopping is the only one key in the retail sector for
achieving success in the business and for this reason customer satisfaction is also
dependent on the services of online shopping. This study helps to understand that
the crucial points an organization must need to ensure at the time of implementing
electronic commerce business model in the organizational context. Online shopping
site helps the stores to ensure a healthy relationship with the potential customers
and it also helps the customers to save their valuable time as they do not have to
visit their preferable stores physically.
10
Consumer behavior encompasses mental and physical activities that
consumers engage in when searching for purchasing, and using products and
services. In the marketplace, consumers exchange their scarce resources (including
money, time, and effort) for items of value. A consumer researcher studying how
consumers buy products/items (1) the characteristics of consumers who buy this
type of product/item, (2) where they buy it, (3) when they buy it, (4) how they buy it,
(5) why they buy, and (6) what happens after they buy it.
People have numerous wants, but their resources are limited. Consequently,
they can not satisfy all their wants. Consumers have to decide on how to allocate the
limited resources in order to satisfy the numerous wants. However, the right decision
has to be made in order to avoid wastage of resources and to achieve the highest
level of satisfaction. Thus, it is important to investigate the factors that influence
allocation of resources or consumer behavior. Additionally, understanding consumer
behavior helps manufacturers to produce goods that meet the consumers’
expectations.
Consumer behavior is helpful in understanding the purchase behavior and

performance of different consumers. Generally, consumers differ in term of sex, age,
education, occupation, income family setup, nationality and social status. According
to these different background factors consumers may have different needs. The
consumer market consists of all the household and individual who buy goods and
services for their personal use. Consumers differ tremendously in income,
educational level, taste and age. So, it is necessary for the marketer to develop the
products or services designed to suit their needs.
In our day-to-day life, we buy different goods and services for consumption.
As consumer, we act to derive satisfaction by using goods and services. Consumer
theory is based on the premise that we co infer what people like from the choices
they make. Consumer behavior can be best understood in three steps. First, by
examining consumer's preference, we need a practical way to describe how people
prefer one good to another. Second, we must take into account that consumers face
budget constraints they have limited incomes that restrict the quantities of goods
they can buy. Third, we will put consumer preference and budget constraint together
to determine consumer choice.
4 ACKNOWLEDMENT
I would like to express my sincere gratitude to all those who have contributed
to the completion of this interview. First and foremost, I would like to thank our
Subject Teacher, Ms. Helen M. Marin. I would also like to thank the participants of
this study for their time and willingness to share their experiences. Without their
11
cooperation, this study would not have been possible. Finally, I would like to thank
my groupmates for their participation in conducting this interview.
5 REFERENCES
[1] Chris Dubelaar & Wahyuningsih Wahyuningsih (2004). Consumer behaviour

and satisfaction
[2] Manal Khosla A3906413412 C-50. Consumer Behaviour
[3] C.A. Cole, in Encyclopedia of Gerontology (Second Edition), 2007
[4] Michael W. Allen, Sik Hung Ng, in Encyclopedia of Applied Psychology, 2004
12

Basic Microeconomics

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Basic Microeconomics

Uploaded by

Copyright:

Available Formats

BASIC MICROECONOMICS

Mary Ryne Bautista

In this interview, we begin the formal study of microeconomics by examining

Our first interviewee in different categories of consumer is Vevilyn M. Mingo,

2.3 EMPLOYED-PRIVATE EMPLOYEE

o What is the most underrated brands for you, why?

2.4 EMPLOYED-GOVERNMENT EMPLOYEE

This study helps to understand that customer satisfaction is one of the

From the study, customer satisfaction is the customer’s fulfillment response

This study helps to understand the importance of the online shopping on

Consumer behavior is helpful in understanding the purchase behavior and

[1] Chris Dubelaar & Wahyuningsih Wahyuningsih (2004). Consumer behaviour

You might also like