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    Get A Copy of A News Item That Is Related To Any Economic Issue. Attach/ Paste It On The Space Provided Then Answer The Questions That Follow

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    shaden lajera
    The document discusses the economic concepts of scarcity, trade-offs, and opportunity cost. It provides questions to analyze how a news article relates to these concepts. Scarcity exists because human wants exceed available resources. When resources are used for one purpose, the best alternative given up represents the opportunity cost. The government should deal with scarcity by using funds efficiently, boosting productivity, and ensuring affordable prices while firms increase production of scarce goods. Filipinos should also contribute by being resourceful in securing jobs and goods.

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    Get A Copy of A News Item That Is Related To Any Economic Issue. Attach/ Paste It On The Space Provided Then Answer The Questions That Follow

    Uploaded by

    shaden lajera
    593 views4 pages
    The document discusses the economic concepts of scarcity, trade-offs, and opportunity cost. It provides questions to analyze how a news article relates to these concepts. Scarcity exists because human wants exceed available resources. When resources are used for one purpose, the best alternative given up represents the opportunity cost. The government should deal with scarcity by using funds efficiently, boosting productivity, and ensuring affordable prices while firms increase production of scarce goods. Filipinos should also contribute by being resourceful in securing jobs and goods.

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    The document discusses the economic concepts of scarcity, trade-offs, and opportunity cost. It provides questions to analyze how a news article relates to these concepts. Scarcity exists because human wants exceed available resources. When resources are used for one purpose, the best alternative given up represents the opportunity cost. The government should deal with scarcity by using funds efficiently, boosting productivity, and ensuring affordable prices while firms increase production of scarce goods. Filipinos should also contribute by being resourceful in securing jobs and goods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    593 views4 pages

    Get A Copy of A News Item That Is Related To Any Economic Issue. Attach/ Paste It On The Space Provided Then Answer The Questions That Follow

    Uploaded by

    shaden lajera
    The document discusses the economic concepts of scarcity, trade-offs, and opportunity cost. It provides questions to analyze how a news article relates to these concepts. Scarcity exists because human wants exceed available resources. When resources are used for one purpose, the best alternative given up represents the opportunity cost. The government should deal with scarcity by using funds efficiently, boosting productivity, and ensuring affordable prices while firms increase production of scarce goods. Filipinos should also contribute by being resourceful in securing jobs and goods.

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    © All Rights Reserved
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    ACTIVITY 2: SCARCITY, TRADE OFF, OPPORTUNITY COST

    Get a copy of a news item that is related to any economic issue. Attach/ Paste it on the
    space provided then answer the questions that follow. ”
    Guide questions:

    1. How is the news related to problem of scarcity? Explain. (minimum of 5 sentences)


    “ ”

    - The news article shows the different kinds of issues that we face in our country.
    One of the major problems related to scarcity is unpredictable calamities and
    pandemic. We filipinos are lack of resources and technologies that will help us to
    predict and avoid upcoming disaster. Through this we will be aware of what we
    should do in order to keep our family healthy and safe. Without it, It will be hard for
    the government to cope with the situation.

    2. “ How do you relate the concept of trade off or opportunity cost to the news clip? ”

    Explain. (minimum of 5 sentences)


    - Scarcity is one of the key concepts of economics. It means that the demand for a good
    or service is greater than the availability of the good or service. The concept of trade-offs
    due to scarcity is formalized by the concept of opportunity cost. When scarce resources are
    used people and firms are forced to make choices that have an opportunity cost.

    The opportunity cost of a choice is the value of the best alternative given up. Scarcity is the
    condition of not being able to have all of the goods and services one wants. It exists
    because human wants for goods and services exceed the quantity of goods and services
    that can be produced using all available resources.

    3. In your opinion, how should the government deal with this problem? How should the
    “

    Filipinos cope in this issue of scarcity and improve the lives of the people? (minimum
    ”

    of 8 sentences)
    - The government, the political system by which a country or community is administered and
    regulated. In order to overcome the problems of the flipino especially the government they
    must deal with their problem first. We all know about the government for being corrupt and
    political instability. This is one of the reaon why government sometimes don't have the
    power to stop scarcity in our country. Government should use all the funds for the
    improvements of our country and boost the productivity of goods and services. Through
    raising prices, but they must make sure that even the poorest consumers can afford to buy
    it. Government can also ask certain firms to increase their production of scarce resources or
    to expand. We should also take part of solving the problem of scarcity even in the smallest
    things like being active and smart, get a job and be resourceful. Through this, we can
    assure that our country will be free from scarcity.

    “ You will be graded based on the following rubrics :


    ”

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