11
APPLIED ECONOMICS
First Quarter
LEARNING ACTIVITY SHEET
Republic of the Philippines
Department of Education
COPYRIGHT PAGE
Learning Activity Sheet in Applied Economics in Context
Grade 11
Copyright @ 2020
DEPARTMENT OF EDUCATION
Regional Office No. 02 (Cagayan Valley)
Regional Government Center, Carig Sur, Tuguegarao City, 3500
“No copy of this materials shall subsist in any work of the Government of the Philippines.
However, prior approval of the government agency or office wherein the work is created
shall be necessary for exploitation of such work for profit.”
This material has been developed for the implementation of the K to 12 Curriculum through
the Curriculum and Learning Management Division (CLMD). It can be reproduced for
educational purposes and the source must be acknowledged. Derivatives of the work
including creating an edited version, an enhancement of supplementary work are permitted
provided all original works are acknowledged and the copyright is attributed. No work may
be derived from the material for commercial purposes and profit.
Consultants:
Regional Director
Assistant Regional Director
Schools Division Superintendent
Assist. Schools Division Supt.
Chief Educ. Supervisor, CLMD
Chief Education Supervisor, CID
Development Team
Writers
Content Editors
Focal Persons
ESTELA L. CARIŇO, EdD, CESO IV
RHODA T. RAZON, EdD, CESO V
MADELYN L. MACALLING, PhD, CESO VI
EDNA P. ABUAN, PhD
DANTE J. MARCELO, PhD, CESO VI
OCTAVIO V. CABASAG, PhD
RODRIGO V. PASCUA, EdD
: Kaycee D. Corales, Lyka M. Curameng, Jonalyn G. Granado,
Esperanza L. Narag, Cyril M. Pacunana
: Inocencio T. Balag, EPS Math, SDO Isabela
Cyril M. Pacunana,
Fay P. Managuelod
: Inocencio T. Balag, EPS Math, SDO Isabela
Printed by DepEd Regional Office No. 02
Regional Center, Carig Sur, Tuguegarao City
Address: Regional Government Center, Carig Sur, Tuguegarao City, 3500
Telephone Nos.: (078) 304-3855; (078) 396-9728
Email Address: region2@deped.gov.ph
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i
TABLE OF CONTENTS
COMPETENCY
Page No.
Differentiate economics as social science and applied science
In terms of nature and scope
1
Examine the utility and application of applied economics to solve
economic issues and problems
5
Analyze market demand, market supply and market equilibrium
9
Determine the implications of market pricing on economic
decision making
17
Differentiate various market structures in terms number of sellers,
types of products, entry exit to market, pricing power and others
21
Analyze the effects of contemporary economic issues affecting
the Filipino entrepreneur
25
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ii
APPLIED ECONOMICS
Name of Learner: ______________________________ Grade Level: ______________
Section:_______________________________________ Date:___________________
LEARNING ACTIVITY SHEET
Economics as an Applied Science and as Social Science
Background Information for Learners
Economics as applied science applies economic theories to predict or provide solutions to the
problems faced by the economy.
On the other hand, economics as social science studies the behavior of individuals and how
they react to the different economic issues like the problem of scarcity.
Learning Competency with Code
Differentiate economics as social science and applied science in terms of nature and scope
ABM_AE12-Ia-1
Activity 1
True or False. Write the word True if the statement is true; write False if the statement is
false.
1. Economics as social science has something to do with our everyday lives.
2. One a man is applying a job to sustain its basic needs shoes is an example of
economics as social science.
3. There two branches of economics the microeconomics and the macroeconomics.
4. Applied Economics is an application of conclusion from the different economic
theories.
5. Using economic theories, applied economics tries to address the central problem of
economics which is scarcity.
6. The word economics derived from the Greek word” Oikonomus” meaning household
management.
7. Adam Smith is the Father of economics.
8. Economics is applied in in our daily lives.
9. Scarcity is the central economic problem.
10. To address the unlimited needs and wants of the people with the limited resources is
one of the significant concerns in economics.
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Activity 2
Differentiate economics as an Applied Science and as a Social Science. Write your answers
inside the circles.
Applied
E
Social
Science
C
O
N
O
M
I
C
S
Activity 3 Article/News Review
Answer the following questions. You may use news articles, live/recorded interviews
provided by the TV stations and your opinion in answering the questions. Don’t forget to
write the complete references, website or TV station where it was lifted.
1. What is the status of the Philippine Economy while in combat with Covid 19 pandemic?
What are the impacts of this pandemic in the different sectors of the economy?
Summary of the Article/interview:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reference/s:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reaction/Opinion:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
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2. Applying Economics as a social science how did the people reacted to the different
measures done by the government? How this Covid 19 pandemic affected the lives of the
Filipino people?
Summary of the article/interview/news:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reference/s:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reaction/Opinion:
3. Knowing Applied Economics and embracing the new normal, what are the initial plans and
moves of the government to combat the effects of the pandemic to the economy?
Summary of the article/interview/news:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reference/s:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Reaction/Opinion:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Activity 3 Rubric:
Exemplary
Above average
(18)
Adequate
Inadequate
(15)
(13)
(20)
Organization
Writing shows
high degree of
coherence and
logical reasoning.
Writing is
coherent and
organized
logically.
Writing is
coherent and
logical, but
some points are
missing
Content
Content shows in
synthesis of
Content shows
good points of
Content is good Content is
but with limited acceptable but
Note: Practice Personal Hygiene protocols at all times.
Writing lacks
logical
organization
3
Grammar
ideas. It
excellently
addresses the
question.
ideas. It provides
sufficient answer
to the question.
ideas.
ideas are
underdeveloped
Essay is free
from errors
Essay is
grammatically
correct with
minimal errors
Essay is
grammatically
correct with
few errors
Errors are
frequent
Reflection:
Complete the statement below.
In this activity, I learned that ___________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
References:
Viray, Edilberto B.,Jr. and Jesusa Avila-Bato, Applied Economics, Anvil Publishing,2018
Dinio, Rosemary R. and George A. Villasis,Applied Economics, Rex Bookstore,Manila,2017
Answer Key:
Activity 1
1.
2.
3.
4.
5.
True
True
True
True
True
6. True
7. True
8. True
9. True
10. True
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APPLIED ECONOMICS
Name of Learner: _______________________________ Grade Level: ____________
Section:______________________________________
Date:___________________
LEARNING ACTIVITY SHEET
Applied Economics in Addressing Economic Issues
Background Information for Learners
We analyze and propose solutions to the several issues and problems confronting the
Philippine economy by applying different theories in economics. The basic economic
problems confronting the Philippines are scarcity, population growth, unemployment,
inflation, high levels of inequality, environmental poverty, weak infrastructure, and natural
disaster.
Applied Economics is about utilizing economic theories to explain economic events,
government actions and recommend courses of actions for business, household, and
government. Different application we have to use to solve these issues are trade-offs,
opportunity cost, variations in benefit and cost, proper allocation of resources by answering
the three basic economic questions; what, how and for whom to produce and other alternative
way by the government to solve our economic problems.
Learning Competency with Code
Examine the utility and application of applied economics to solve economics issues and
problems. ABM_AE12-Ib-2
Activity 1
Instruction: Application of trade-offs in scarcity of resources. In not more than four
sentences explain the following scenarios.
1. What are some of the trade-offs faced by the Philippine government deciding whether
to establish more national high schools in faraway provinces.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
2. Give at least four examples of trade-offs when scarce resources are used.
a. __________________________________________________________________
b. __________________________________________________________________
c. __________________________________________________________________
d. __________________________________________________________________
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Activity 2
Instructions: Application of opportunity cost and variations of benefit and cost.
1. What are the opportunity costs of a student who decide to study college?
2. Show how cost-benefit analysis can be used in explaining the family size among
poor households.
Activity 3
Other application use to solve economic issues and problems
1. With the given economic questions, determine what is being referred to by the
following statements:
a. Consider production possibilities and efficient use of resources
b. Technology, human resources, and both
c. Consider distribution of income (rich v. poor)
2. The Pantawid Pamilyang Pilipino Program (4 Ps) is a conditional cash transfer
program that aims to alleviate poverty. What are the positive and negative sides of the
program?
3. Compose a slogan on the importance of environmental protection.
4. Rubric
Explanation
4
3
2
A
complete
response with a
detailed
explanation
Good
solid Explanation is Mises
response with unclear
points
clear
explanation
Demonstrated
Knowledge
Shows
complete
understanding
of
the
questions, ideas
and procedures
Shows
substantial
understanding
of
the
questions, ideas
and process
Requirements
Goes beyond Meet
the Hardly
meet Does not meet
the requirement requirement
the requirement the requirement
of the problem
Response
shows
some
understanding
of the questions
1
Points
key
Response
shows
complete lack
of
understanding
Total
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Reflection
Write your brief description of your experiences by answering the following questions.
1. What is the most important thing you learned personally?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
2. How do you feel that the activity relates to the real-world situations and problems?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3. What difficulties you encountered when answering the activities?
___________________________________________________________________________
___________________________________________________________________________
________________________________________________________________________
___________________________________________________________________
References:
Carnaje, Gideon. Applied Economics, 1253 G. Araneta Avenue, Quezon City, Philippines:
Vibal Group, Inc., 2016
Tullao, Tereso Jr. Applied Economics for a Progressive Philippines, Quezon City,
Philippines: Phoenix Publishing House, Inc., 2016
Answer Key
Activity 1
Possible answer:
1. Government has limited amount of funds to spend on different levels of education and
various social services. More government spending on high school education might require
less spending on elementary education and college education or might even require reduced
spending on health care and highways.
2. a. Drinking a bottled water instead of a soda
b. Watching movies at home versus watching movie in theater
c. Buy new dress or two new t-shirts
d. Vacation in Baguio or Boracay
Activity 2
1. a. The money you would have earned if you worked instead
b. Lose four or more years of salary while getting your degree
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c. Choosing to not go to a party hangout with friends or catch up on much some
needed sleep.
2. The cost-benefit analysis can explain why fertility rate among women in poor families
tend to have large families because they consider additional children as investments
that can assist them in the future. They attach a higher value on the future
contributions of these children on household welfare. The opportunity cost of having
children is low since women in poor households are usually not working. With low
cost and high benefits, there is an incentive to have more children in these households.
Activity 3
1. a. What to produce?
b. How to produce?
c. For whom to produce?
2. Positive
a. Parents are more optimistic about situation and their children’s future
b. Households heads, spouses and other adults are more encouraged to work and set
up their own business
c. Reduction of severe situation among beneficiary children
d. 4Ps beneficiaries consume more rice and cereals than non-beneficiaries
e. Higher gross enrollment rate for beneficiary high school students
f. Households spend more on basis nee such as food, education and medicine that
stimulate the growth of the local economy.
Negative
a. Fewer workers in the agricultural sector
b. The denial of the beneficiaries 4Ps program to commence hard work as they now
get regular financial assistance
c. Gives rise to corruption in poor areas where ATM cards of beneficiaries are
monitored by local government officials.
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APPLIED ECONOMICS
Name of Learner: _______________________________Grade Level: __________________
Section:______________________________________ Date:________________________
LEARNING ACTIVITY SHEET
Demand, Supply and Market Equilibrium
Background Information for Learners
The analysis of supply and demand is a persuasive tool in understanding economic and
business realities, issues, and problems. The idea underlying in the model is the price at
which a product or a resource can bought or sold in various markets which is determined by
the interaction of buyers and sellers who are making choices under the conditions of scarcity.
The Law of Demand states that as the price goes up, the quantity demanded goes down and
vice versa, considering other things is constant (ceteris paribus). Meaning price and quantity
demanded has a negative or inverse relationship.
On the other hand, the Law of Supply states that as the price goes up, quantity supplied goes
up too and as the price goes down, the quantity supplied goes down too, considering other
things are constant (ceteris paribus). Meaning price and quantity supplied has a direct
relationship
Learning Competency with code
Analyze market demand, market supply and market equilibrium (ABM_AE12-Ic-3)
Activity 1 Analysis of Demand
Directions: Below is the demand schedule for hamburgers. Use this demand schedule for
activity 1. and 1.2.
Quantity Demanded
Price (peso per unit)
(units per week)
0
10
20
30
40
50
60
70
80
90
100
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
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1. Graph the movement along the demand curve when the price of hamburgers falls
from P/60 to P/40 per unit. Explain the movement of the demand curve
2. Graph the shifts of the demand curve when buyer would choose to buy 70,000 instead
of 60,000 hamburgers at price P/40. Explain the shift of the demand curve.
3. The law of demand holds that people buy more at lower prices than a higher price.
But some goods are bought largely because they have “snob appeal.” For example,
some students in your school gain prestige by buying expensive brand name items.
Does knowingly buying an item because it is expensive violate the law of demand?
Activity 2. Analysis of Supply
Directions: Below is the supply schedule for hamburgers. Use this supply schedule for
activity 2.1. and 2.2
Price (pesos per unit)
0
10
20
30
40
50
60
70
80
90
100
Quantity Supplied
(units per week)
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
1. Graph the movement along the supply curve when the price of hamburger rises from
P/40 to P/60 per unit. Explain the movement of the supply curve.
2. Graph the shifts of the supply curve when the seller would choose to sell 50,000
instead of 40,000 hamburgers at price P/40. Explain the shift of the supply curve.
3. Many lanzones and rambutan farmers open temporary roadside stands during harvest
season, even though prices are usually low at that time. In this case, as the price of
their product falls, farmers sell more, not less. Is this an exception to the law of
supply?
Activity 3 Market Equilibrium
Directions: Refer to the supply schedule above for the data needed in graphing price
adjustments and market equilibrium.
1. At this price, the quantity demanded is 60,000, which is greater than the quantity
supplied, 40,000. Graph the shortage occurs at any price below the intersection of the
demand and supply curves. Explain the market shortage on the part of the buyer.
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2. At this price, buyers want to purchase 40,000 hamburgers less than the 60,000
hamburgers producers are willing to offer. Graph the market surplus occurs. Explain
the market surplus among the sellers.
Activity 4 Problem and application
Directions: Analyze the situation carefully, explain your answer in not more than five
sentences.
1. What happens to the equilibrium price and the equilibrium quantity of photographic
film if the price of digital cameras decreases and the price of photographic developer
increase while all other things remain constant?
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
2. Gather news articles on the price of basic commodities including rice, sugar, pork,
and chicken. Make a presentation on what is happening to their prices using demand
and supply analysis.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Rubric
Explanation
4
3
2
1
A complete
response with a
detailed
explanation
Good solid
response with
clear
explanation
Explanation is
unclear
Misses key
points
Demonstrated
Knowledge
Shows
complete
understanding
of the
questions, ideas
and procedures
Shows
substantial
understanding
of the
questions, ideas
and process
Response
shows some
understanding
of the questions
Response
shows
complete lack
of
understanding
Requirements
Goes beyond
Meet the
the requirement requirement
of the problem
Points
Hardly meet
Does not meet
the requirement the requirement
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Reflection:
Write your brief description of your experiences by answering the following questions.
1. What is the most important thing you learned personally?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
2. How do you feel that the activity relates to the real-world situations and problems?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3. What are the difficulties you encountered when answering the activities?
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
References:
Carnaje, Gideon. Applied Economics, 1253 G. Araneta Avenue, Quezon City, Philippines:
Vibal Group, Inc., 2016
Tullao, Tereso Jr. Applied Economics for a Progressive Philippines, Quezon City,
Philippines: Phoenix Publishing House, Inc., 2016
Viray, Edilberto B.,Jr/ and Jesusa Avila-Bato,Applied Economics, Anvil Publishing,2018
Note: Practice Personal Hygiene protocols at all times.
12
Answer Key
Activity 1
Quantity demanded (thousands of units per week)
Quantity demanded (thousands of units per week)
Explanation of movements along the demand curve
The demand of hamburgers can be represented by a curve that slopes downward. As the price
rises from P/0 to P/100, the number of hamburgers that buyers would choose to purchase per
week falls from 100,000 to 0.
2.
Quantity demanded
Quantity Demanded
Explanation of shifts of demand curve
An increase in demand for hamburgers is indicated by a rightward shift of demand curve. A
decrease in demand is indicated by a left-ward shift of the demand curve.
3. Brand name items are associated with higher quality. Some people have greater preference
for high-quality products. Knowingly buying a high-quality product which happens to be
Note: Practice Personal Hygiene protocols at all times.
13
expensive is not a violation of the law of demand. The law of demand says that people buy
more at lower prices than at higher prices, holding other factors affecting demand- for
examples, taste and preferences- constant.
Activity 2
1.
Quantity supplied (thousands of units per week)
Explanation of movements along the demand curve
The supply of hamburgers can be represented by a curve that slopes upward. In the figure as
the price rises from P/0 to P/100, the number of hamburgers sellers would choose to sell per
week increase from 0 to 100,000.
2. Shifts of the supply curve
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Explanation of the shifts of the supply curve
An increase in the supply of hamburgers is indicated by a rightward shift of the supply
3.This is not a violation of the law of supply. The law of supply says that people sell more at
higher prices than at lower prices, holding other factors affecting supply for example,
productivity, cost of production and number of sellers.
Activity 3
Explanation of market shortage
At a price below the interaction of the demand and supply curves, a market shortage occurs.
Competition among buyers will push the price up to the equilibrium price, P/50, the price at
which the quantity demanded equals the quantity supplied (50,000).
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2.
Explanation of market surplus
At a price above the intersection of the demand and supply curves, a market surplus occurs.
Competition among sellers will push the price down to the equilibrium price P/50, the price at
which the quantity demanded equal the quantity supplied (50,000)
Activity 4
1.Photographic developer is an input used in firm production. An increase in its price raises
the cost of production, thereby causing the supply curve of photographic film to shift to the
left.
An increase in the price of photographic film does not shift the supply curve. Rather, it causes
a rightward movement along the supply curve.
An increase in the number of stores selling photographic film will cause the supply curve to
shift to the right.
Note: Practice Personal Hygiene protocols at all times.
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APPLIED ECONOMICS
Name of Learner: ____________________________ Grade Level: __________________
Section:_____________________________________ Date:________________________
LEARNING ACTIVITY SHEET
Market Pricing
Background Information for Learners
We determine the implications of market pricing on economic decision making. When the
price decreases, consumer tend to buy more, but when the price increases, the amount
consumer can afford to buy tends to go down. The higher the price, the higher the quantity
supplied.
Learning Competency
Determine the implications of market pricing on economic decision making. ABM_AE12Id-4
Activity 1
Instructions: Complete the table below by determining the quantity demanded at a given
price.
Price Per bottle(P)
P0
2
4
6
8
10
Number of bottles (Qd)
Illustration:
Given:
Required:
Solution:
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17
Activity 2
Instructions: Assuming the supply function is given as: Qs=+5P Determine the quantity
supplied of fish in kilos at a given prices
Price of Fish (per Kilo)
P 20
40
60
80
100
Supply (in kilos)
Illustration:
Given:
Required:
Solution:
Activity 3: Problem Solving
Instructions: Using the following demand function, solve for the demand schedule of
consumer Robert given the following prices for bottled water:
Qd=60-P/2
Prices
P0
2
4
6
8
10
12
14
16
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Qd
18
Based on this schedule, construct a demand curve for Robert.
Illustration:
Given:
Required:
Solution:
Rubric
Activity
Advanced
-Students got 90%
and above of the
total items
-Student shows
mastery of the
competency
(20)
Competent
Students got 8589% of the total
items.
Student shows
understanding of
the competency.
(17)
Developing
Students got
75-84% of the
total items.
Students show
less
understanding
of the
competency
(14)
Beginner
Students got
74% and below
Students show
poor
understanding
of the
Competency
(10)
1
2
3
Reflection:
In this activity I have learned that________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Note: Practice Personal Hygiene protocols at all times.
19
References:
Dinio, Rosemary P. and Villasis, George A., Applied Economics, Manila Philippines
Answer Key:
Activity 1 Determine the Number of Bottles.
Price Per bottle
P0
2
4
6
8
10
Number of bottles
6
5
4
3
2
1
Activity 2: Determine the Quantity Supplied of Fish.
Price of Fish (per Kilo)
P 20
40
60
80
100
Supply (in kilos)
200
300
400
500
600
Activity 3 Problem Solving
Prices
P0
2
4
6
8
10
12
14
16
Note: Practice Personal Hygiene protocols at all times.
Qd
60
59
58
57
56
55
54
53
52
20
APPLIED ECONOMICS
Name of Learner: ________________________
Grade Level: _____________________
Section : _______________________________
Date : ___________________________
LEARNING ACTIVITY SHEET
Market Structures
Background Information for Learners
Market can be classified as either Perfectly Competitive Market (PCM) or Imperfectly
Competitive Market (ICM).
Perfectly Competitive Market (PCM) is a market characterized by the following:
a. There are many buyers and sellers.
b. The products are homogeneous.
c. There is perfect mobility of resources.
d. There is perfect knowledge of economic agents of market conditions such
as present and future prices, costs, and economic opportunities; and
e. Market price and quantity of output are determined exclusively by forces of
demand and supply.
Imperfectly Competitive Market (ICM) is a market which does not fulfil the conditions of perfect
competition. And there are different types of Imperfectly Competitive Market, these are:
a. monopoly which a single seller has control of entire supply of goods and services.
b. Oligopoly where there are few numbers of sellers in the market selling products which are
differentiated.
c. monopsony means there is one buyer and many sellers: and
d. monopolistic competition occurs when there are many sellers offering
products that are similar but not identical.
Learning Competency with Code
Differentiate various market structures in terms of:
a. number of sellers
b. types of products
Note: Practice Personal Hygiene protocols at all times.
21
c. entry/exit to the market
d. pricing power
e. others
ABM_AE12-Ie-5
Activity 1: Am I Right or Am I Wrong?
Directions: Write Right if the statement is correct and write Wrong if the statement is
incorrect. Write your answer on the space provided before the number.
__________1. Monopoly is a market structure in which there is only one buyer of a product
for which there are no close substitutes.
__________2. Under oligopoly the action of each firm does not affect other firms.
__________3. Monopolistic Competition allows such variety of choices to the sellers.
__________4. In Perfectly Competitive Market the producers have the power to influence the
price of the product.
__________5. Oligopoly is a market structure in which there are few sellers of a product and
additional sellers cannot easily enter the industry.
__________6. The consumers have the power to influence the price of the products and
services in monopsony.
__________7. Monopolists has no power to determine its output level and the price of their
product.
__________8. Government is the consumer in monopsony and the government employees
are the producers.
__________9. Advertisement is very important in perfectly competitive market to encourage
buyers to buy certain products.
_________10. Oil industry is an example of oligopoly.
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22
Activity 2: Where Do I Belong?
Directions: Classify the products and services below. Write what market structure they
should belong. Write your answer on the table below.
Vegetable
MRT
Police
Rice
Shampoo
Sardines
Gasoline
Public School Teachers
Toothpaste
Cement
MAYNILAD
Gold
Fish
Politicians
MERALCO
Perfectly
Competitive
Market
Monopoly
Oligopoly
Monopsony
Monopolistic
Competition
Activity 3. Market Structure Board
Fill up the table by giving the needed information regarding market structure.
Market
Structure
Perfectly
Competitive
Market
Monopoly
Number
Sellers
of Types
of Entry/Exit to the Pricing Power
Products/Services Market
Oligopoly
Monopsony
Monopolistic
Competition
Reflection:
What I have learned in this activity?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
References:
Dinio,Rosemary P. and Villasis George A, Applied Economics,2017 edition, Rex Book Store
https:/www.economicshelp.com, https:/www.coursehero.com
Note: Practice Personal Hygiene protocols at all times.
23
Answer Key
Activity 1
1. Wrong
2. Wrong
3. Right
4. Wrong
5. Right
6.Right
7.Wrong
8.Right
9.Wrong
10.Right
Activity 2
Perfectly
Competitive
Market
Monopoly
Oligopoly
Monopsony
Monopolistic
Competition
Vegetable
MRT
Cement
Police
Shampoo
Rice
MAYNILAD
Gasoline
Politician
Sardines
Fish
MERALCO
Gold
Public School Toothpaste
Teacher
Activity 3
Market
Structure
Perfectly
Competitive
Market
Number
Sellers
Many
Monopoly
One
Oligopoly
Few
of Types
of Entry/Exit to Pricing Power
Products/Services
the Market
Heterogeneous/Identical There
is Price
Taker
Freedom
of (The producer
entry/exit
and consumer
do not have
power
to
influence the
price.
They
should follow
the prevailing
price in the
market.)
Unique/One
of
a There
are Price Maker
kind/No substitute
barriers
to (The producer
entry
has the power
to
influence
the price in the
market.)
Differentiated
Some barriers Price Maker
to entry
(The producer
has the power
to
influence
the price in the
market.)
Note: Practice Personal Hygiene protocols at all times.
24
Monopsony
Many
Monopolistic
Competition
Many
Differentiated (Many There
services offered by the Freedom
government)
entry/exit
is Price Taker
of (The pricing
power is on the
hand of the
consumers.)
Similar products but not Low Barriers Price Maker
identical
to entry
(The producer
has the power
to
influence
the price in the
market.)
Note: Practice Personal Hygiene protocols at all times.
25
APPLIED ECONOMICS
Name of Learner: ______________________________ Grade Level: ___________
Section:______________________________________
Date:_______________
LEARNING ACTIVITY SHEET
Contemporary Issues Facing the Filipino Entrepreneurs
Background Information for Learners
Filipinos normally invests for something to increase wealth. They are investing because they
are expecting return on these investments, it could be in the form of dividends, interests, rents
and the likes. In achieving those endeavors, we cannot go away from the reality that Filipino
entrepreneurs are facing multiple challenges in the market. Some of these challenges are
inflation, government policies and regulations, taxes, rent, wages, and other concerns that an
investor should carefully look into in investing or conducting business. Remember that in
every investment you take, there are risks and challenges involve. That is why it is also
important to know your level of tolerance on these risks and challenges.
Learning Competency with Code
Analyze the effects of contemporary economic issues facing the Filipino entrepreneur.
ABM_AE12-If-6
Activity 1:
Directions: Identify the described contemporary economic issues facing the Filipino
entrepreneur below. Choose your answer from the words inside the box. Write it on the space
provided before the number.
Investment
Economic rent
Rent
Income Tax
Minimum wage
Capital gain Tax
Value added Tax
Percentage Tax
Tax
Minimum wage legislation
______1. It is defined as building up the capital stock for more future production and
consumption.
______2. It refers to a payment made to or for a factor of production over and above the
amount expected by its owner.
______3. It is the government control tool to prevent further exploitation of workers.
______4. It is the positive difference between the actual payment made for a factor of
production to its owner and the payment level expected by the owner, due to its exclusivity or
scarcity.
______5. It refers to the lowest wage per hour that a worker may be paid as mandated by the
federal law.
Note: Practice Personal Hygiene protocols at all times.
26
______6. It is a compulsory contribution to state revenue, levied by the government on
workers income and business profits.
______7. It is paid by the entities exempt from VAT with gross annual sale not exceeding a
limit prescribed by the BIR of 3%.
______8. This is imposed on the sale of capital assets such as real estate properties and
stocks.
______9. It refers to a tax on sale, lease and importation of goods and services of 12%.
______10. It is the common tax filed by employed and self-employed individuals.
Activity 2: True or False
Instructions: Write T if the statement is true and F if the statement is false on the space
provided.
_____1. Savings and investment are necessary to build the future.
_____2. Economic rent exists due to market imperfections.
_____3. The problem of inadequate wage is intertwined with the problem of unemployment.
_____4. Taxes cannot distort savings, investment and consumption as income earners shift to
substitute to avoid the tax burden.
_____5. In short economic, rent is any earned income.
_____6. Taxes is considered as inflows for the government and outflows for firms.
_____7. Rent is one of the fixed costs of a business entity.
_____8. Long-term investments are assets that a company intends to hold for a year.
_____9. Short-term investments that a company has made is expected to be converted into
cash for more than a year.
_____10. Interest rate in a short-term investment is fixed but security risk and gain are low.
Activity 3. Essay
1. Select one of the contemporary economic issues faced by the Filipino entrepreneurs
then, discuss the short-term and long-term effects of these issues.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Note: Practice Personal Hygiene protocols at all times.
27
2. Describe the distorting effects of taxes to entrepreneurs.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
___________________________________________________.
3. Suggest solutions on how to address the problem on inadequate wage and
unemployment.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Reflection
Complete the statement below.
In this activity, I learned that ___________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
References:
Dinio, Rosemarie P. and Villasis, George A.,Apllied Economics, 2017 edition, Rex Book
Store,Manila,Philippines.
https://quizlet.com/306818801/contemporary-economic-issues-facing-the-filipinoentrepreneur-through-minimum-wage-flash-cards/
https://prezi.com/p/hushdrgxvcu4/lesson-6-contemporary-issues-facing-the-filipinoentrepreneur/
https://global.oup.com/uk/orc/busecon/economics/gillespie_econ4e/student/mcqs/ch21/
Answer Key
Activity 1
1.
2.
3.
4.
5.
Investment
Rent
Minimum Wage Legislation
Economic Rent
Minimum Wage
6. Tax
7. Percentage Tax
8. Capital Gains Tax
9. Value Added Tax
10. Income Tax
Activity 2
1. T
2. T
3.
T
6. T
7. T
4. F
Note: Practice Personal Hygiene protocols at all times.
4. F
5. F
8. F
9. T
28