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A. Answer the following questions.
- The world today is experiencing different problems including the COVID 19 pandemic. What do you think will happen to the economy of every country if the problems will not be solved? Why?
- How can applied economics help solve economic problems?
- What is scarcity? How does scarcity affects a community?
- How does basic economic problems affect socioeconomic development of the Philippines in the 21st century?
- Advice on how to cope with the issues on poverty and unemployment to improve the lives of the people? What would you tell him/her?
- In what way is applied economics important in tackling economic issues or problems of the country?
show the flow of income and spending between the government, households and firms in a circular flow
During the process of manufacturing , packaging , marketing and delivering alcoholic beverages , the liquor industry stimulates economic activities throughout the entire beverage value chain . Which economic system allows private organisations such as SAB to seek a profile while providing the community with products ?
(a) The market economy
(b) The command economy
(c) Mixed economies
(d) Socialism
According to Maslow's hierarchy of needs , which one of the following categories of needs is considered to be the most important for survival ?
(a) Esteem need
(b) security need
(c) physiological need
(d)social need
Joe makes wooden toy trains to sell at the local market . He uses wood blocks , glue and paints to create the toy trains . The process is known as ______
(a) production
(b) exchange
(c) co-operation
(d) operation
South African Breweries(SAB) is the South African subsidiary of SABMiller . SAB is the second largest listed company on the Johannesburg Stock Exchange and one of South African's manufacturing firms .
The SAB Zenele BBBEE-transaction announced in June 2009 , placed 8 45% of the company's shares under black ownership . Approximately 88% of the employees in the liquor industry , and it's direct suppliers , are from previously disadvantage backgrounds.
Making more beer but using less water , is one of SABMiller's three global focus areas for sustainable development . This is because water is/an _____ resources and , therefore , its supply cannot be increased
(a) natural
(b) capital
(c) tangible
(d) economic
South African Breweries(SAB) is the South African subsidiary of SABMiller . SAB is the second largest listed company on the Johannesburg Stock Exchange and one of South African's manufacturing firms .
The SAB Zenele BBBEE-transaction announced in June 2009 , placed 8 45% of the company's shares under black ownership . Approximately 88% of the employees in the liquor industry , and it's direct suppliers , are from previously disadvantage backgrounds.
The statement above describes the concept of _____
(a) corporate social investment
(b) employment equity
(c) consumerism
(d) sustainability
The following list shows the total expenditures in the private, public and foreign sectors in the United States in 2009 (in billions of dollars).
Household Consumption (C) = 10,001
Private Investment (I) = 1,590
Government Expenditures (G) = 2,914
Net Exports (X-M) = -386.
Calculate total US GDP for 2010.
Calculate disposable income when: (all figures in Rs.)
GNP= 240 billion
Depreciation=50 billion
Indirect taxes=25 billion
Subsidies= 10 billion
Corporate taxes=25 billion
Transfer payments=30 billion
Personal taxes=5 billion
