ABM Grade 12 Modules and activities! 2022-2023

Applied Economics part1

1.
2.
3.
4.
5. Labor
6. Stagnat method not progressive...
Ans. Traditional Economy

7. Supply is limited...
Ans: Absolute scarcity

8. Workers offer services and look for job
B. Labor market...

9. Facilitating the interaction those need capital...
Ans: Financial market

10. Willingness of the customer...
Ans: Demand

11. Factors affects the nature...
Ans: Determinants

12. Fundamental economic problem...
Ans: Scarcity of resources

13. Two factors contribute the scarcity...
Ans: Unlimited wants and unlimited resources

14. Scarcity and public transportation...
Ans: Home based learning

15. Economist describes the amount of resources...
A. Limited at any moment of time

16. Farmers planted pineapples...
Ans. Land

17. Top manager of firm... great ideas...
Ans. Entrepreneurship

18. Owner of the company withdraw cash to pay the salaries...
Ans. Capital

19. Hired gardener...
Ans. Capital

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1. The physical and effort of the Manpower to produce the basic needs of the consumers, describes which factor of production C. LAND

2. The initiative and creativity to produce something new describes which factor of production D. ENTREPRENEUR

3. the equipment of the coffee shop to produce cups of coffee, are what kind of goods or products C. CAPITAL GOODS

4. which best of the following best describes economics as a social and an applied science D. THE STUDY OF HOW BUYERS MAKE CHOICE WHEN THERE IS LIMITED SUPPLY

5. The following are examples of customer's basic needs A. WATER AND SHELTER

part 2: matching type

1. the idea for a car that runs on a rocky road D. ENTREPRENEURSHIP

2. the crude oil used by abm firm to produce gasoline A. LAND

3. the machine used by mang jose, tailor to stitch ppes B. CAPITAL

4. the manpower to build bridges and houses C. LABOR

5. technicians who repair computers
C. LABOR

what i know:

1. individuals and industries
MICRO ECONOMICS
2. basic goods/commodities
TANGIBLE GOODS
3. shortage in supply
SCARCITY
4. expensive jewels and gems
LUXURY GOODS
5. baking machines
CAPITAL GOODS

assessment:

1. the physical effort of the manpower to produce the protective devices of the frontliners describes which factor of production
C. LABOR

2. the great ideas, concepts and drive of the production managers to produce something new describe which factor of production
D. ENTREPRENEURSHIP

3. the computers of the production manager in an office are what kind of goods or products
C. CAPITAL GOODS

4. which best describes economics as a social and an applied science
D. THE STUDY OF HOW THE BUYERS MAKE CHOICES WHEN THERE IS LIMITED SUPPLY OF RESOURCES.

5. which of the following are examples of human needs
A. WATER AND A PLACE TO LIVE LIKE HOUSES.

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Assessment:

1. Mrs Nenita De Jesus purchased basic goods
A. CONSUMERS GOODS

2. Mr. Dennis Elecanal purchased new car
B. LUXURY GOOD

3. ABM computer shop purchased additional 10 units
C. CAPITAL GOODS

4. Which is not considered as tangible good
D. TRAINING SERVICE

5. which is true about economics as a social science
B. ECONOMICS EXPLAIN AND PREDICTS ECONOMIC EVENTS

6. Which is true on the value of an economic theory in practice
C. HOW WELL THE THEORY CAN BE REPRESENTED BY A GRAPH

7. which of the following is the study of the aggregate economy
C. MACROECONOMICS

8. business ethics refers to any behavior
B. VIOLATE SOCIAL OR MORAL STANDARDS

9. businesses have responded to incentives for ethical behavior
A. LOBBYING FOR THE ABOLITION .....

10. which of the following is not an economic agent
D. NONE OF ABC

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Arc elasticity is commonly used in economics to determine the percentage of change between the demand for goods and their price.

So ang purpose ng arc elasticity is to compare the differences, at para malaman yung percentage of changes between sa quantity demanded at sa prices.

Ibig sabihin para malaman yung responsiveness ng customers sa pagbabago bago ng prices, at kung may epekto ba yun sa pagtaas or pagbaba ng quantity demanded.

So yung two points, hypothetically, pwede nating sabihin two different situations or dalawang mag kaibang panahon.

You can measure the responsiveness of the quantity demanded to changes in price even though you don't have information on the demand curve.

To calculate elasticity, you can use two observations of price and quantity demanded.

Pagka tapos mag compute, naka depende yung results kung saan belong yung price elasticity demand mo, kung sa elastic ba, inelastic, or unitary elastic.

Halimbawa, kapag elastic yung results ibig sabihin non-necessity yung goods or product. yung lpg kung tutuusin necessity siya ng mga tao. Pero since masyado nang mataas yung presyo ng lpg naka apekto na siya sa determinants ng mga tao. So bumaba yung demand kasi nag hanap yung mga tao ng ibang alternative sa lpg. So malaki yung percentage of changes niya sa quantity demanded kase nga bumama yung demand ng lpg.

Elastic, malaki yung epekto ng presyo sa percentage of changes sa quantity demanded.

Halimbawa, mataas yung price tas mababa yung demand. Titignan mo muna kung greater than 1 yung results ng computation. Malaki yung epekto ng pag taas ng presyo sa percentage of changes ng pagbaba ng demand.

Inelastic, maliit lang yung naging epekto ng presyo sa quantity demanded.

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