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Economics Essay

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Tyler John G.

Datwin

12-ABM B

Essay:

1. On your growing years of existence, there are several problems you encountered. Kindly state
that problem and hindrance in your life. State what choices and solutions did you make to
overcome such problem..

- Life's path is full of challenges and obstacles that make our existence worthwhile. Over the
years, I have encountered some challenges that have tested my patience, strength, and
resilience. Lack of concentration and motivation. This caused delays and decreased productivity
in both my personal and student life.

To overcome this problem, I started setting realistic goals with achievable goals. I also created a
schedule to help me stay on track with my tasks for the day. Additionally, I practiced
mindfulness meditation to help me focus and reduce stress.

Another problem I faced was financial instability due to unexpected expenses and poor financial
planning. To solve this problem, I started budgeting my spending, saving for emergencies, and
investing in long-term financial plans like mutual funds and fixed deposits.

In summary, every problem has a solution. just find the right one. 

2. If you would be a leader or a man with a purpose, what problem or situation would you like to
address in order to have a good satisfying life?

As a leader, I want to tackle inequality in society. Inequality is a pervasive problem that


affects people from all walks of life and has profound consequences for individuals and
communities. The gap between rich and poor is widening and it is important to address this to
create a more just society.

To this end, I will focus on creating policies that promote equal opportunity for all. This
means investing in education, health care and social services that help level the playing field for
disadvantaged people. Additionally, I will work to create more affordable housing options, as
well as vocational training programs that give individuals the skills they need to succeed in
today's economy.

By directly addressing inequality, we can create a more just and fulfilling society for all.
When people have access to the resources they need to thrive, they can better pursue their
dreams and live fulfilled lives. 
3. If you would be a hero, what powers would you like to have and why??

If I were a hero, I'd have the power of telekinesis. Telekinesis is the ability to move objects with
the power of one's mind. This ability will allow me to control and manipulate objects, making it
easier for me to save people in danger.

With remote control, I can stop a building from falling or lift heavy objects out of danger. It will
also give me an edge over bad guys who rely on weapons or brute force, as I can easily disarm or
unbalance them. In addition, the remote will allow me to reach and rescue people who are stuck or
stuck in inaccessible places. It will also allow me to create a barrier and shield against attacks.

In short, if I were a hero, having the power of telekinesis would make my job much easier and
more efficient. 

4. Knowing your populations, it's demography, and your location what economic factor would
you address or make if you are given an opportunity? Why? Elaborate.

If I had the opportunity to address one economic factor, I would focus on reducing income
inequality. Income inequality is a growing concern worldwide and has important implications for
social stability and economic growth. The gap between rich and poor has widened in recent
decades, leading to social unrest, political instability and slowing economic growth.

To address this, I will propose policies to narrow the gap between rich and poor by improving
access to education and employment opportunities for low-income households. Education is an
important tool for moving forward, and investing in education can help reduce poverty in the long
term. In addition, creating jobs that pay fair wages can help close the income gap.

Also, I would advocate progressive taxation where high earners pay a higher percentage of their
income than low earners. 

5. Compare the GDP AND GNP of our country to other country... Is there similarity and
difference... State.

Gross Domestic Product (GDP) and Gross National Product (GNP) are two essential economic
indicators that measure the economic performance of a country. In the case of the Philippines, its
GDP is $376.8 billion in 2020, while its GNP is $377.9 billion in the same year. Compared to other
countries, the GDP of the Philippines is lower than that of other developing countries such as
Indonesia and Thailand but higher than that of some African countries such as Kenya and Ethiopia.

In addition, when comparing GNP with other countries, the GNP of the Philippines is lower than
that of developed countries such as Japan and Germany but higher than that of some developing
countries such as Vietnam and Cambodia. The similarity between these countries is that they all try
to improve their economies by increasing GDP and GNP.

However, there are differences in each country's approach to achieving economic growth, such
as government policies, available natural resources, population size, and workforce skills. labor. 
6. Living your life to the fullest... What passages or philosophy would you like to practice and
share to others? Why?

Living life to the fullest is an admirable goal, but it can be difficult to achieve without a clear
philosophy or set of principles to follow. One passage that I would like to put into practice is that of
the ancient Greek philosopher Epicurus, who said: “Don't spoil what you have by coveting what you
don't have; Remember that what you have now was once the one you only hoped for. This quote
reminds me to appreciate and enjoy the present moment rather than always looking for more. It's
easy to get caught up in the pursuit of material wealth or status, but true happiness comes from
being content with what we already have.

Another philosophy I like to practice is accepting uncertainty and taking risks. As Mark Twain
once said, “Twenty years from now, you will be more disappointed by the things you didn't do than
by the ones you did.” Life is short and we never know what opportunities or experiences might
come our way.  

7. Entrepreneurship generates business and employment, what business Enterprise would you
like to establish and why?

Entrepreneurship is the process of identifying a problem or opportunity and creating a new


business to solve that problem. Successful entrepreneurs are driven by passion, creativity, and a
willingness to take risks. They develop innovative ideas, products, services or processes that meet
customer needs in new ways.

If I had to choose a business venture, I would consider creating an e-commerce platform that
specializes in sustainable fashion. The fashion industry is one of the largest polluters in the world
due to its high-water consumption, chemical use and waste generation. As a result, the demand for
eco-friendly clothing made from recycled materials or organic fibers is increasing.

My e-commerce platform showcases ethical brands that offer affordable, sustainable fashion
options while ensuring fair wages for garment workers. 

8. Scarcity and recession are at present if people do not plan those factors. What are those
factors to consider?

Scarcity and recession are two major challenges facing the world today. These challenges can be
presented if people do not plan well. Scarcity occurs when there is a shortage of resources such as
food, water, and energy. A recession, on the other hand, is an economic downturn that is
characterized by a decline in output, employment, and income.

To avoid these challenges, people need good planning considering a number of factors. One of
the important factors to consider is population growth. As the population increases, there will be an
increase in the demand for resources, which will lead to scarcity. Another factor to consider is that
climate change affects agricultural productivity and leads to food shortages.

In addition, people must plan for economic stability by investing in education and
entrepreneurship, which creates job opportunities, reduces unemployment, and leads to economic
growth. Finally, governments must implement policies that promote the sustainable use of
resources while protecting the environment. In summary, planning plays an essential role in
avoiding scarcity and recession. 

9. Government and leadership have big role in economy, how does lgu and other sectors affects
the economy of a state? Give examples.

Governments play an important role in the economy by providing public goods, regulating
markets, and redistributing income. However, local government units (LGUs) and other sectors also
affect the economy in different ways.

LGU is responsible for implementing national policies at the local level, including infrastructure
development, health services and education. They also play an important role in attracting
investment through business-friendly policies and incentives. For example, LGUs can reduce taxes or
simplify permits to encourage businesses to invest in their locality. Other sectors such as agriculture
and tourism also contribute significantly to the economy. Agriculture ensures food supply while
creating employment opportunities for farmers and farm workers. Tourism generates revenue from
foreign visitors while creating employment opportunities for local people.

In addition, private companies play an important role in driving economic growth by investing in
new technologies and expanding their operations. 

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