APPLIED

ECONOMICS
Moment of
Mindfulness
PRAYER
 RECAP:
What are the four factors of production ?
• Land • Labor
• Capital • Entrepreneurs

What are the main branches of economics?

• Macroeconomics
• Microeconomics
Who are the economic agents/stakeholders?
• Consumers
• Producers
• The Public Sectors

What is the meaning of SCARCITY?

• Shortage of supply
LANDSLIDE
PANDEMIC/COVID19 VIRUS
POVERTY
FLASH FLOOD
FOOD SHORTAGE
POPULATION GROWTH
 ECONOMIC
PROBLEMS/
PHENOMENON
 LESSON OBJECTIVES:
At the end of this chapter, the students are expected to:
a. define Gross National Income and Gross Domestic
Product;
b. Compile the comprehensive list of possible solutions
of the basic economic problems of the world and the
Philippines; and
c. realize the role of OFW remittances in our economy.
POPULATION GROWTH

Population growth is the

increase in the number of
individuals in a population.
The economic measure of growth development is
now defined differently with economic growth is
per capita GDP computed as Gross Domestic
Product divided by the population.

Part of the socioeconomic concerns is the

proportion of young and old and the proportion of
poor and the rich.
Half of the country’s
population is below 23 years
old. Unlike japan and
european countries
Philippines

Catholic Church
Business Newspapers in the Philippines

UIESBSNS OLWRD
 Business World
It is a business newspaper in the
Philippines with a nationwide
circulation of more than 117, 000.
Founded in 1967 as Business Day.
It is Southeast Asia’s first daily
business
newspaper.
SEBNSUIS
IRRMRO
Business Mirror
It is the second daily business
newspaper in the Philippines, after
Business World. It was founded in 2005
by Antonio Cabangon Chua, who is
also its publisher and the owner of radio
network Aliw Broadcasting
Corporation. As of September 2011,
Business Mirror has a daily circulation
of 82, 600.
UIESBSNS LAMYAA
Business Malaya
Malaya, originally named Ang Pahayagang
Malaya is a broadsheet newspaper in the
Philippines, headquarter at Intramuros,
Manila and owned by People’s
Independent Manila Inc. The newspaper is
known for being one of the publications
that fought against the presidency of
Ferdinand Marcos.
A country’s growth and
progress is measured by its
total output expressed in terms
of the sum total of
consumption expenditures,
government expenditures and
investment in inventory and
physical assets like factories.
Most economists will attribute this
to the increase in the remittances
from Overseas Filipino Workers and
from the Business Process
Outsourcing industry and the fiscal
discipline established during the
previous administration. The OFW
remittance is about over U.S. 2
billion per month.
Why do Filipinos go abroad more
nowadays?

Do remittances solve poverty in the

Philippines?

Which country sends most remittances

to Philippines?
EXCLUSIVE GROWTH

meaning only the wealthy and the

upper echelon in the economic
strata are benefited

INCLUSIVE GROWTH

where all members of society

are benefited.
GNP GROSS NATIONAL PRODUCT

is the total income of all residents

of a nation, including income from
factors of production, used
abroad the total expenditure a
nation’s output of goods and
services.
GDP GROSS DOMESTIC PRODUCT

is total income earned

domestically, including the income
earned by foreign- owned factors
of production, the total
expenditures on domestically
produced goods and services.
Economists also note that:
>> savings are important and is
crucial to the development of a
country because in the Economist’s
mind
>> savings is always equal to
investments.
>> Now if the savings of the nation is low, it
can resort to Foreign Direct Investment from
other countries to augment the savings
shortfall.
 HENRY SY
Henry Tan Chi
Sieng Sy Sr.
 October 15, 1924
Jinjiang City from Fujian Province in the South of China
and used to be called the province of Amoy (Xiamen).

Henry Sy and his father went to the Philippines

when he was 12 years old sometime in 1936
and set-up two sari-sari stores in the Chinatown,
Manila.
 Chiang Kai Shek College
Associate of Arts degree in Commercial studies at Far
Eastern University in 1950.
At the age of 20, he opened his first sole-
proprietorship in Quiapo, Manila in 1948.

He opened at least three shoe stores in the

Carriedo area.
In November 1972, he opened SM Quiapo, SM’s
first stand-alone department store, and entrusted his
22-
year-old daughter Teresita to run the store.

On November 8, 1985, he established his first

SM Supermall, SM City
North EDSA.
In early 1990s, SM started opening more shopping
malls with the setting up of two malls in Metro
Manila and a solitary Mall in Cebu City.

SM Prime Holdings was incorporated in 1994

and went public.

Sy was named “Richest Man of the Year” by

the Makati Business Club in 1999.
Sy was conferred an Honorary Doctorate in Business
Management by De La Salle University in January
of that year.

In August 2005, Sy’s stake in the San Miguel

Corporation, Southeast Asia’s largest food and
beverage conglomerate, reached 11%. He sold
stake in October 2007 for $680 million.
For 11 straight years until his death in 2019, Forbes
ranked him as the richest person in the Philippines,
with an estimated net worth of
US$19 billion in 2019.

Henry Sy is the 53rd richest person in the

world. (March 9, 2018)
Sy was married to Felicidad Tan, who was a
shoelace vendor. The couple has 6 children.

Teresita Elizabeth

Henry Jr. Hans

Herbert Harley
 Teresita and Henry Jr., are the vice chairpersons of
Sm Investments, serving under chairman Jose Sio.

Harley serves as executive director of SM.

Sy died in his sleep at age 94.
His body was discovered on the morning of
January 19, 2019 in his home in Forbes Park,
Makati.
The interment took place at the Heritage Memorial
Park in Taguig, on January 24, 2019.

The tomb of Sy is guarded 24/7.

 Activity: COMPLET ME
Complete the following tables by enumerating the possible solutions of
the basic economic problems of the world and in the Philippines.

ECONOMIC PROBLEM POSSIBLE SOLUTIONS

1. Poverty

2. Unemployment Rate

3. Food Shortage

4. Wages and Salaries

5. Population Growth
Thanks!