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CHPSeries
CULTURE, HISTORY & PROGRESS
UPDATED EDITION
A Teaching
and Learning Guide
Based on UbD
IV
Economics
Basic Principles,
Applications and Issues
Meriam dR. Cervantes
Godfrey T. Dancel
Grace Estela C. Mateo, Ph.D.
Editor-Consultant
This Teacher's Manual is intended only for teachers who use a Vibal CTLP.
© Copyright 2010 by Vibal Publishing House, Inc. NOT FOR SALE.
CHP Series: Culture, History and Progress
ECONOMICS: Basic Principles, Applications and Issues
Updated Edition
A Teaching and Learning Guide Based on UBD
Fourth Year
ISBN 978-971-07-2696-7
Copyright © 2010 by Vibal Publishing House, Inc. and Meriam dR. Cervantes; Godfrey T. Dancel; and
Grace Estela C. Mateo, Ph.D.
All rights reserved. No part of this manual may be reproduced or transmitted in any form or by any means—
electronic or mechanical, including photocopying, recording or by any information storage and retrieval
system—without permission in writing from the publisher and authors.
Published and printed by Vibal Publishing House, Inc.
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Preface
T
eaching Social Studies IV: Economics effectively and meaningfully
poses a tremendous challenge to social studies teachers. Our subject
aims to develop not only nationalist Filipinos but also productive citizens
who have the basic knowledge about the principles of economics and can
understand the relevance of economics in their daily life. This means
that we, as teachers, should have the requisite knowledge, skills, and
preparation to teach in order to equip our students with the necessary
learning.
and skills which they should acquire. There are essential questions
which should provoke our students to think and seek the essential
understanding.
Included in the instructional plan is the second stage of UbD, the
Assessment part. Assessment serves as proof and gauge of our students’
learning. This manual is replete with various kinds of traditional assessment. But a more important element of the manual is its scores
of authentic tasks complete with rubrics that identify the criteria and
performance indicators. This will ensure that you develop the higher
order thinking skills (HOTS) of our students. In accordance with UbD
and as part of Assessment, the instructional plan also contains the Six
Facets of Understanding which measure and show evidence that our
students have acquired the necessary learning.
To guide you in your teaching for the entire school year, we offer you
A Teaching and Learning Guide Based on UbD Updated Edition. This is
a timely learning or instructional plan organized based on Understanding by Design or UbD, a curriculum design introduced by Grant Wiggins
and Jay McTighe. The goal is to teach for understanding.
A Teaching and Learning Guide Based on UbD was designed for
you to competently teach and for our students to effectively learn
using the Civilization, History and Progress (CHP) series of social
studies textbooks. It is organized in accordance with the three stages of
the UbD design. These are:
•
Stage 1: Desired Results/Outcome
•
Stage 2: Assessment
•
Stage 3: Instructional Plan
The third stage of UbD or the Instructional Plan is organized
based on the steps for effective teaching in the 2010 Secondary Education Curriculum (2010 SEC) of the Department of Education. There
is a teaching guide for each lesson or each series of related lessons.
Each teaching guide aims to explore, firm up, and deepen the students’
knowledge and skills and to transfer or apply these learning to new or
different contexts.
Aside from its UbD attribute, another important feature of this
manual is the use of weblinks as a teaching aid and in order to make
the learning process of our students more enjoyable. These weblinks are
relevant and appropriate if not reliable sources of additional information
which our students can access through the Internet. It is imperative that
you guide our students as they go through the web links.
The first two stages are reflected in the instructional plan for every
quarter or grading period. This manual has four instructional plans for
the four quarters or grading periods. On the other hand, the third stage
of the UbD or the Instructional Plan is intended to help you in your
daily teaching tasks in order for our students to attain the outcome or
desired results of learning.
Ultimately, this manual aims to identify the important and
essential knowledge and skills that you should effectively teach in order
for our students to attain the enduring understanding. This will serve
as our foundation in developing Filipino students attuned to economic
realities and globally competitve. Our fervent wish is for you to have a
truly meaningful and successful teaching of Economics.
The focus of Stage 1 are the key or important knowledge (e.g.
concepts, big ideas, principles or issues) and skills that our students
should acquire at the end of the quarter or grading period. As part
of this first stage of UbD, the instructional plan identifies the content
and performance standards which they should learn and demonstrate.
It also identifies the essential understandings or the knowledge
The Authors
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TABLE OF CONTENTS
UNIT
I BASES OF THE STUDY OF ECONOMICS ..................................................................................................................
Chapter 1 Economics as a Social Science ...........................................................................................................................
Module 1 What Is Economics? ...........................................................................................................................................
Module 2 Tools of Economic Analysis ................................................................................................................................
Chapter 2 Economic Resources of the Philippines.............................................................................................................
Module 3 Natural Resources ..............................................................................................................................................
Module 4 Human Resources ..............................................................................................................................................
Module 5 Capital Resources ..............................................................................................................................................
Module 6 Sufficiency of Economic Resources ...................................................................................................................
Chapter 3 Scarcity and Choice ..............................................................................................................................................
Module 7 Scarcity as a Social Problem ..............................................................................................................................
Module 8 Allocation ............................................................................................................................................................
Module 9 Wants and Needs ...............................................................................................................................................
Chapter 4 Consumption .........................................................................................................................................................
Module 10 Theory of Consumption ......................................................................................................................................
Module 11 The Rights and Responsibilities of Consumers ..................................................................................................
Chapter 5 Production .............................................................................................................................................................
Module 12 Factors of Production..........................................................................................................................................
Module 13 Business Organizations ......................................................................................................................................
Module 14 The Entrepreneur and the Business Enterprise..................................................................................................
2
4
4
4
5
5
5
5
5
6
6
7
8
9
9
10
10
10
11
12
UNIT
II MICROECONOMICS .......................................................................................................................................................
Chapter 6 Demand, Supply, and Price ..................................................................................................................................
Module 15 Demand ..............................................................................................................................................................
Module 16 Supply .................................................................................................................................................................
Module 17 Determination of Price by Demand and Supply ..................................................................................................
Module 18 Elasticity of Demand and Supply ........................................................................................................................
Chapter 7 Market and Market Structure................................................................................................................................
Module 19 Market Economy and Market Structure ..............................................................................................................
14
15
15
16
18
18
20
20
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UNIT
III MACROECONOMICS .....................................................................................................................................................
Chapter 8
Macroeconomics and the National Economy.....................................................................................................
26
Module 20 The Scope of Macroeconomics ..........................................................................................................................
26
Module 21 Different Models of How Incomes and Expenditures Flow .................................................................................
26
Module 22 Measuring National Output .................................................................................................................................
27
Chapter 9
UNIT
24
Inflation and Government Policy .........................................................................................................................
29
Module 23 Inflation ...............................................................................................................................................................
29
Module 24 The Government’s Fiscal Policy .........................................................................................................................
29
Module 25 The Government’s Monetary Policy ...................................................................................................................
30
Module 26 The International Monetary System ....................................................................................................................
31
THE SECTORS OF THE ECONOMY ............................................................................................................................
34
Chapter 10 The Agricultural Sector ........................................................................................................................................
37
Module 27 Agriculture and Development .............................................................................................................................
37
Module 28 The Agrarian Reform Program............................................................................................................................
37
Chapter 11 The Industrial, Service, and Informal Sectors ....................................................................................................
38
Module 29 Industrialization and Economic Development .....................................................................................................
38
Module 30 The Role of the Service Sector in the Economy .................................................................................................
39
Module 31 The Informal Sector ............................................................................................................................................
39
IV
Chapter 12 The Government and the Economy
................................................................................................................
40
Module 32 The Role of the Government in the Economy.....................................................................................................
40
Module 33 Government Budget............................................................................................................................................
41
Chapter 13 International Trade ................................................................................................................................................
42
Module 34 Why Nations Trade .............................................................................................................................................
42
Module 35 Exchange Rate and International Trade .............................................................................................................
43
Module 36 The Trend Towards Globalization .......................................................................................................................
43
Appendix .............................................................................................................................................................
46
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________________
1. The ability to read, write, and understand
numerical calculations (functional literacy)
________________ 15. The sector which is known as easy to describe
but hard to measure since its economic
activity is neither reported nor included
in the measurement of the Gross Domestic
Product (informal sector)
________________
2. Part of the population aged 15 years old and
over who are either employed or unemployed
(labor force)
B. Write C if the following are complementary goods and S if they
are substitutes.
________________
3. The act of utilizing goods and services to
satisfy human wants (consumption)
1. gasoline and car — C
________________
4. The price at which Qs=Qd (EP)
3. rice and mashed potato — S
________________
5. The type of market where there are two
buyers of goods and services (duopoly)
4. racket and tennis ball — C
________________
6. The type of market with only few sellers of
goods and services (oligopoly)
6. USB flash disk and computer unit — C
PRE TEST/POST TEST
A. Identify what is being referred to in each item.
________________
7. The study of the economy as a whole
(macroeconomics)
________________
8. In a two-sector economy, it sells goods and
services to the households (firms)
________________
9. An economic situation wherein there is
too much money chasing too few goods
(inflation)
2. puto and dinuguan — C
5. hamburger and doughnut — S
7. socks and shoes — C
8. margarine and butter — S
9. ice cream and frozen yogurt — S
10. coffee and creamer — C
C. Write T if the statement is true. If it is false, replace the underlined
word/s to make the statement true.
________________ 10. The measure of a country’s total final output
in a given year (Gross National Product)
________________
1. The type of advertisement that refers to
a class of goods identified by name as the
product of a single firm or manufacturer is
called bandwagon. (brand)
________________
2. Upward-sloping curves indicate that the
values of variables Y and X move in opposite
directions. (downward-sloping curves)
________________
3. Michael P. Todaro identified sustenance,
self-esteem, and freedom as the three core
values of development. (T)
________________
4. The Law of Demand cites that price and
quantity demanded move in opposite directions, ceteris paribus. (T)
________________ 11. Shows the relationship between the price of
a good or service and the quantity supplied
(supply curve)
________________ 12. Sector of the Philippine economy which is
considered as its backbone (agriculture)
________________ 13. The sector of the economy which transforms
agricultural products into new form and
value with the help of machines (industrial
sector)
________________ 14. A corporation which branches out to many
parts of the world in terms of operation and
capital (multinational corporation)
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________________
5. Aside from price, a buyer’s savings has a
positive effect on demand. (income)
________________
6. A taxation scheme wherein the tax rate
increases when income increases is progressive taxation. (T)
________________
7. Money serves as a medium of exchange. (T)
________________
8. The “wear and tear” of capital is called
depreciation. (T)
________________
9. The Supreme Court chief justice is the
chairman of the Monetary Board. (BSP
governor)
________________ 19. The government’s policy of reducing or
eliminating government regulations that
affect private individuals and firms is called
privatization. (deregulation)
________________ 20. The Law of Supply illustrates the positive
relationship between quantity supplied and
price. (T)
________________ 21. Microeconomics is the study of small units
in the economy such as households and
firms. (T)
________________ 22. A buyer’s income has a positive effect
on quantity demanded of a good or
service. (T)
________________ 10. The redistributive function of the government refers to the government’s role in
influencing the distribution of income among
the population. (T)
________________ 23. Payments made to capital as factor of
production is called interest. (T)
________________ 24. For a monopolist, marginal revenue is lesser
than output. (price)
________________ 11. Externalities are commonly known as
market failures that the government seeks
to correct. (T)
________________ 25. There is a shortage of goods and services
when market price is lower than the
equilibrium price. (T)
________________ 12. National income is a list of the government’s
revenues and expenditures for a given year.
(National budget)
D. Enumerate the following:
________________ 13. Taxes levied on imported goods are duties
or tariffs. (T)
1. Three distinct characteristics of private goods
________________ 14. Local merchandise or goods sold outside
the country are called imports. (exports)
•
the market can produce these goods
•
benefits are limited to its buyers only
________________ 15. Foreign exchange is a credit instruments
used in paying international debts. (T)
•
their use is restricted to buyers only
2. Two kinds of externalities
________________ 16. The exhange rate refers to the rate at which
one currency may be traded for another. (T)
________________ 17. The policy of selling government-controlled
corporation to the private sector is called
liberalization. (privatization)
•
spill-over cost
•
spill-over benefits
3. Three types of exchange rate system
________________ 18. Exclusive ownership of a key resource is
one factor which could lead to a monopoly.
(T)
•
flexible exchange rate system
•
fixed exchange rate system
•
managed exchange rate system
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4. Four classification of budget
10. Characteristics of the informal economy
•
actual budget
a. low levels of productivity and employment
•
structured budget
b. health and safety are always at risk
•
cyclical budget
c.
•
annually balanced budget
d. non-payment of taxes
e.
5. Three types of deficit financing by the government
•
pump priming
•
short-run compensatory spreading
•
long-run compensatory spending
more labor-intensive
workers are usually paid beloow the minimum wage
E. Fill in the blank with the correct answer. Encircle the letter of the
answer.
1. Fixed income earners such as government employees ________
during inflation.
6. The main sectors of the economy
•
firms
a. lose*
c.
benefit
•
households
b. earn
d. break-even
•
government
2. Another term for the paper money currently used in the country
is ________ money.
7. Types of inflation
•
demand-pull
a. commodity
c.
•
cost-push
b. token
d. paper
8. Functions of the BSP
fiat*
3. When aggregate demand exceeds potential output, the type of
inflation that occurs is ________.
•
set monetary policy
•
print and issue money
a. cost-push
c.
•
act as government bank
b. demand-pull*
d. staggered inflation
•
maintain forex reserves
•
regulate financial institutions
4. When aggregate demand is increasing too fast, government
raises taxes and ________ its expenditures.
9. Reasons why the agriculture sector is important
a. source of livelihood
b. source of foreign earnings
c.
hyperinflation
a. increases
c.
decreases*
b. normal
d. average
5. A ________ measures the relationship between a given year’s
price and the price for a selected base year.
source of food and raw materials
d. as market for products of other industries
a. consumer price index
c.
e.
b. wholesale
d. price index*
additional resources to other sectors of the economy
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retail
F. Match column A with column B. Write the letter only.
6. For the Tan family, their disposable income for the month of
December is P10,500 and their consumption is pegged at 59,500
for the same month. The savings of the Tan family is _________.
a. 5800
c.
b. 52,000
d. 51,500
51,000*
7. To John Maynard Keynes, the principal determinant of consumption is _________.
a. national income
c.
b. disposable income*
d. personal taxes
salary or wage
a. planned consumption = planned investment
b. aggregate supply = planned investment
aggregate supply = aggregate demand*
d. savings = investment
9. The public debt imposes a burden on future generations if
________.
a. it is largely owed to foreigners*
b. it is completely owed to citizens of the issuing country
c.
the government balances the budget over the business cycle
(e)
______
2. The unintended consequences of actions
b. Philippine Ports Authority
b. resource owners use their market power to push up prices*
f.
public goods
g.
Public Interest Theory
(f)
______
5. The benefits of these
goods and services
are not limited only
to buyers
h. quota
i.
pump priming
(i)
______
6. Refers to government’s injection of
funds to stimulate
economic activities
j.
spill-over costs
(h) 10. Quantitative restric______
tion on the number
of goods that may be
imported in a year
aggregate supply increases at a faster rate than aggregate
demand
d. aggregate demand increases at a faster rate than aggregate
supply
d. tariff
(b)
______
4. Tasked to construct
and modernize ports
and water transport
in the country
(c)
______
9. Form of government
intervention when
market fails
a. consumers use their market power to push up prices
regulation
externalities
(a)
______
8. A l s o k n o w n a s
“shadow economy”
10. Cost-push inflation occurs when _________.
c.
e.
(d)
______
7. Tax on imported
goods
d. taxes do not have to be increased in the future to cover higher
interest without payments on debts
c.
B
a. informal sector
(j)
______
3. Occur when individuals involuntarily bear economic
costs without compensation
8. In the consumption and investment model (private sector),
the equilibrium level of income occurs where _________.
c.
A
(k)
______
1. A budget with no
surplus nor deficit
ix
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k. balanced budget
UNIT
I
BASES OF THE STUDY OF ECONOMICS
B. Interpretation
Examine concepts such as economic resources, allocation,
consumption, production, and factors of production being interpreted by different thinking tools such as graphs, statistical data,
charts, and graphic organizers
Number of days: 57
STAGE 1 : DESIRED RESULTS/OUTCOME
Content Standard
Performance Standard
The student is able to discuss the
basic concepts of and processes related to economics and explain the
importance of such in his (or her)
daily life.
Prepare different thinking maps/
tools such as graphs, charts, tables,
and equations, in the computation
and interpretation of human behavior
in the economy.
Essential Understanding
Essential Question
Economics is a social science that
describes, interprets and examines
concepts such as scarcity, consumption, production, allocation of
resources and opportunity costs
and plays a vital role in the economic and social development of
the individual as well as the attainment of national progress and
development.
What is economics and how does
it relate to our daily lives?
STAGE 2 : ASSESSMENT
C. Application
Show how the interaction among capital, natural, and human
resources can bring about economic stability for the country
D. Perspective
Justify that only through the proper use of natural resources
as well as human resources can a truly viable economic growth
and development become meaningful
E. Empathy
Put oneself in the shoes of an individual who is confronted
with several material wants but has to make the best decision of
letting go some of them because of a limited budget
F. Self-knowledge
Realize that because of scarcity, choosing from the available
alternatives or options becomes extra difficult hence, opportunity
reveals itself in every decision making one makes.
Evidence at the Level of Performance
Evidence at the Level of Understanding
The students should be able to show their level of understanding
through the following skills…
A. Explanation
Explain the study of economics as a social science which
helps determine economic progress and stability interpreted and
analyzed, through different thinking tools/maps
☛ Authentic Assessment
1. Make a multimedia presentation showing how economics affects
your daily life.
2. Present a short skit about the importance of prioritizing needs
over wants.
3. Draw a comic strip showing how one could perform one of the
duties of a consumer.
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☛ Traditional Assessment
A. Identify what is being referred to in each item.
1. The scientific study of how society allocates scarce resources
to satisfy unlimited human wants (economics)
2. The ability to read, write, and understand numerical calculations (functional literacy)
3. An act setting a comprehensive policy to protect the country’s
bodies of water from land-based sources of pollution (Republic
Act No. 9275 or the Philippine Clean Water Act)
4. This happens when the supply of a good or service is low and
the demand for such is high (shortage)
5. Part of the population aged 15 years old and over who are
either employed or unemployed (labor force)
______ 3. The type of advertisement that refers to a class of goods
identified by name as the product of a single firm or
manufacturer is called bandwagon. (brand)
______ 4. The Law of Diminishing Returns states that, ceteris
paribus, the marginal product of each unit of a particular input will decrease as more and more of that
input is used. (T)
______ 5. The average product of an input refers to the extra
output produced by an additional unit of such input,
ceteris paribus. (marginal product)
______ 6. Upward-sloping curves indicate that the values of
variables Y and X move in opposite directions.
(Downward-sloping curves)
6. Shows the possible combinations of output an economy
could produce given the available factors of production and
technology (production possibility frontier)
______ 7. Decreasing returns to scale happens when a change in
all inputs results in a more-than-proportional increase
in output. (Increasing returns to scale)
7. The economic system in which the government has a
centralized system of planning (command economy)
______ 8. Productive consumption is the type of consumption
wherein the consumer gets immediate satisfaction
from the consumption of a good or service. (Direct
consumption)
8. The top level in Abraham H. Maslow’s Hierarchy of Needs (Need
for Self-actualization)
9. The act of utilizing goods and services to satisfy human wants
(consumption)
10.
The government agency which implements laws and
regulations regarding business and industry and protects
consumers against dishonest business practices (Department
of Trade and Industry)
B. Write T if the statement is true. If it is false, replace the underlined
word(s) to make the statement true.
______ 1. The factor of production that refers to the time and
human effort exerted in the process of production is
referred to as labor. (T)
______ 2. The simplest and oldest form of business organization
is called individual proprietorship. (T)
______ 9. A rightward shift in the production possibility frontier
can be achieved through additional factors of production
or improved technology, or both. (T)
______10. Michael P. Todaro identified sustenance, self-esteem,
and freedom as the three core values of development.
(T)
C. Write an essay about two of the following topics.
1. The importance of understanding the basic concepts of
economics
2. The difference between scarcity and shortage
3. The effects of advertisements on consumption
4. Some guiding principles in buying goods or availing of services
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STAGE 3: INSTRUCTIONAL PLAN
Chapter 1
C. Deepen
1. Ask the following:
Economics as a Social Science
Module 1 What Is Economics?
a. Why is the study of the economics important?
✏ Activities and Strategies
b. What effects does knowledge of economics have on
decision-making, especially among government leaders
and households?
A. Explore
1. Show pictures or present a collage which illustrate economic
activities of people. Based on the pictures, ask the students
the following questions:
a. Why are the pictures or collage representative of man’s
economic activities?
b. What basic economic concepts are present in the pictures?
Why?
2. Based on their answers, define “economics.”
B. Firm up
1. Use a bubble map or concept map in the discussion of important ideas and concepts around the word “economics.”
choice
scarcity
2. Have the students do Activity 2 on page 11 of the textbook.
D. Transfer
1. Ask the students to identify an economic phenomenon they
usually observe close to or during the opening of classes.
Let them explain how they would study such using the
scientific method.
2. Let the students do Activity 1 on page 11 of the textbook.
E. Valuing
Ask: What value do economists demonstrate by adhering
to the scientific process? How could you use such value in your
daily life?
✏ Materials
Economics
efficiency
Textbook, pictures of economic activities
opportunity cost
2. With the use of a matrix, show the relation of economics
to other disciplines.
Disciplines
Focus of Study
Relation
to Economics
Module 2 Tools of Economic Analysis
✏ Activities and Strategies
A. Explore
1. Show the students samples of mathematical tables, possibilities schedules, and graphs and ask the following questions:
a. What is a mathematical table/possibilities schedule?
b. What is a graph?
c. How do tables and graphs help explain economic
phenomena?
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B. Firm up
With the use of Table 2.1 on page 13 and Figure 2.1 on page
15 of the textbook, ask the students to explain concepts such as
dependent variable, independent variable, quadrant, abscissa,
and ordinate.
C. Deepen
1. Have the students answer the following:
a. How is the concept of slope related to opportunity cost?
b. What do statistical data and analysis provide in economic
decision making?
c. What is the importance of mathematics, graphs, and
statistical analysis in the study of economics?
2. Have the students do Activities on page 21 of the textbook.
D. Transfer
1. Divide the class into two groups. Ask one group to read a
news or feature article wherein a graph was used to illustrate
economic data while the other group will read one wherein
the statistical analysis was given. Let each group evaluate
whether or not the writer was able to maximize the use of
graphs or statistical analysis in discussing the economic data.
2. Ask the students to gather data regarding their family’s
monthly expenditure for the following: transportation, food,
school needs, entertainment/communication, and others.
Let them show the data using a table such as the one below.
Afterwards, they should construct a bar graph showing the
second column, and a pie graph showing the third column.
Item
Monthly
Expenditure
E. Valuing
Complete the following statements.
1. The use of graphs and tables in economics is significant because ______.
2. In life opportunity cost exists because ______ and therefore I
will strive to ______.
3. Statistical analysis guides government leaders in ________
and the individuals in ______.
✏ Materials
Textbook, pictures showing scarcity and shortage, economics
related news or feature articles
Chapter 2
Module 3
Module 4
Module 5
Module 6
Economic Resources of the Philippines
Natural Resources
Human Resources
Capital Resources
Sufficiency of Economic Resources
✏ Activities and Strategies
A. Explore
1. Tell the students to bring pictures of different economic
resources of the country. With the use of a tree map, identify
where each of the resources belongs.
Economic Resources
Monthly Expenditure for Item
as Percentage of Total Monthly
Expenditure
Natural Resources
________________
________________
________________
Human Resources
________________
________________
________________
Capital Resources
________________
________________
________________
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B. Firm up
1. Ask the students what the tree map shows.
2. Groups of students will be assigned to report on the following
topics.
a. Economic Resources: Clarifications, Contributions, Present
Conditions
b. Challenges Facing the Country’s Economic Resources
c. Programs of the Government to Address the Present
Status of the country’s Economic Resources
C. Deepen
1. Ask the following questions:
a. Why are the country’s economic resources vital in
promoting economic growth and stability?
b. What are the significant contributions of these economic
resources to the country’s economy?
c. How should government promote the well-being of its
human resources and safeguard both its natural and
capital resources?
2. Let the students watch a video about resources. A link to this
video can be found at i-learn.vibalpublishing.com.
D. Transfer
Have the students do Activities on pp. 31, 47, 53, and 59 of
the textbook.
E. Valuing
1. Ask the students to defend or justify their stand on the following issues:
a. Time management
b. Reduce, reuse, recycle
c. Selective logging
2. Have the students answer Valuing on pp. 31, 47, 53, and 59
of the textbook.
✏ Materials
Textbook, economic map of the Philippines, graphic organizers,
pictures of different economic resources
Chapter 3
Scarcity and Choice
Module 7 Scarcity as a Social Problem
✏ Activities and Strategies
A. Explore
1. Write the words “scarcity” and “shortage” on the board. Ask
the students to cite instances which illustrate these concepts.
Write their answers on the board.
2. Draw the following figure on the
board, then write the term “Production-Possibility Frontier” (PPF)
under it. Introduce the concept of
PPF to the students.
•
•
•
•
B. Firm up
1. Define “scarcity” and “shortage” to the class. Discuss the
following:
a. Individuals and societies have to deal with scarcity.
b. Difference between shortage and scarcity
c. The concepts related to scarcity
2. Focus the students’ attention on the instances they cited which
show scarcity and shortage.
a. Definition of PPF and its importance in the study of
economics
b. Relation of PPF to the concepts of scarcity, choice, efficiency,
and opportunity cost
c. Explanation of shifts in the PPF; how a shift in the PPF
happens, and what it means in terms of production
3. Have the students answer Review Questions on page 67
of the textbook.
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Module 8 Allocation
C. Deepen
Ask the students the following questions:
a. What is the effect of shortage and scarcity to society and
to the economy?
b. Why is scarcity considered as a social problem?
c.
How can a country maximize its output given scarce
resources?
d. Can one do away with opportunity cost everytime one
makes an economic choice? Why or why not?
D. Transfer
1. Give the following situations to the class and let them
answer it: Suppose you were one of the country’s economic
managers. Suppose further that the country is producing
along the PPF in Figure 7.1 on page 64 of the textbook. What
possible steps would you propose in order for production to
shift to point H?
✏ Activities and Strategies
A. Explore
1. Introduce the concept “economic system” to the class. Let the
students share their ideas about this concept.
2. Have the students do Vocabulary on page 73 of the textbook.
B. Firm up
1. Ask the students the following:
a. What considerations must a budding entrepreneur take if
he or she wants to venture on a plan to put up a business?
Why?
b. Given the two conflicting truths in economics, illustrate
your view through the network tree.
Limited
resources
Insatiable
needs
2. Have the students do Activities on page 67 of the textbook.
Scarcity
E. Valuing
1. Make a wise choice given the following scenarios. Justify your
choice.
a. Cut classes or do research
b. Play computer games or do your assignments
c.
What to
produce?
How to
produce?
For whom
to produce?
Do household chores or go out with friends
d. Buy make up kits or buy materials for projects
e.
Produce food or produce weapons
f.
Watch TV or sleep early
2. Let the students answer Valuing on page 67 of the textbook.
✏ Materials
Textbook, graph
2. Group the class into four. Each group will choose which economic system they will report on. Let the students refer to
Table 8.1 on pp. 70-71 of the textbook for the different economic
systems.
At the end of the group presentations, students should be
able to compare and contrast the different economic systems.
3. Facilitate a brainstorming session on how the price system
works.
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C. Deepen
1. Ask the students the following questions:
a. Why is it important to allocate the country’s limited
resources properly?
b. What role do markets play in determining price and
quantity?
c. What is the relationship between allocation and scarcity?
Explain.
2. Have the students answer Review Questions on page 73 of the
textbook.
D. Transfer
1. Ask: Which economic system is best suited for the Philippines?
Why? Support your stand.
2. Have the students do Activities on page 73 of the textbook.
E. Valuing
1. Have the students construct a pie graph illustrating how
an individual or a government allocates meager/limited
resources.
2. Have the students answer Valuing on page 73 of the textbook.
✏ Materials
Textbook, graphic organizer
B. Firm up
1. Conduct a mini survey among the students about the different
things they have and wish they could have. Let them write
these things on a piece of paper.
a. Write on the blackboard some of the things that the students wrote. Using a retrieval chart, write all the wants
in one column and all the needs in another.
b. Based on the retrieval chart, guide the students in giving
their own definition of wants and needs.
2. Prepare an incomplete chart showing man’s needs as identified
by Abraham Maslow and Clayton Alderfer. Have the students
do the following:
a. Compare and contrast Maslow’s and Aldefer’s ideas about
needs.
b. Analyze their needs according to Maslow’s and Aldefer’s
frameworks.
3. Choose students who will compose a panel which will discuss
the three core values of development as propounded by Michael
Todaro.
a. Ask the students what factors shape people’s wants. Have
them cite examples from their personal experiences.
b. Discuss the relationship between wants and needs on one
side, and demand for goods and services on the other.
C. Deepen
Module 9 Wants and Needs
Have the students answer the following:
✏ Activities and Strategies
A. Explore
With the comic strip on page 74 of the textbook as guide, ask
the students the following questions:
a. What does its illustrate?
b. Did the daughter ask for something very necessary to
everyday life? Why or why not?
1. How important is the knowledge of understanding the difference between wants and needs to individuals, policy-makers,
and government?
2. What could be the impact of man’s insatiable wants and needs
the status of our natural resources?
3. How should an individual or the government ensure that basic
needs are given utmost importance?
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D. Transfer
1. Let the students do Activities on page 81 of the textbook.
2. Let the students share their views regarding prioritizing needs
over wants.
E. Valuing
Have the students answer Valuing on page 81 of the textbook.
Read the situation on page 74 again.
✏ Materials
Textbook, graphic organizer, charts
Chapter 4
Consumption
Module 10 Theory of Consumption
✏ Activities and Strategies
A. Explore
1. Ask the students what goods or services they have availed
of the past weeks or so. Further ask them the following
questions:
a. What did they consider when they bought/availed of the
items?
b. What gains or returns did they experience because of these
purchases?
B. Firm up
1. Let the students do a mock interview of a NEDA employee.
The students will ask the employee about the different factors affecting consumption spending. Guide the students in
formulating their own questions for this activity.
2. Define utility and marginal utility. Ask one or two students to
give illustrative examples of consumption based on utility.
3. Let the students study Table 10.2 on page 85 of the textbook.
Tell them to cite instances wherein they engaged in each of
the three types of consumption.
4. Let the students read and analyze Table 10.2 on page 85 of
the textbook. Based on the data presented, instruct them to
construct a table with similar headings. Let them add two
more columns. The first column will represent the examples
of goods and services they consume under each type and the
other column an explanation why these goods and services
represent wasteful and productive consumption.
C. Deepen
1 Ask the following questions:
a. What dictate/influence the Filipinos’ consumption
behavior? Why?
b. Why is there a need for an individual and even government
to promote wise and vigilant consumption?
c. How does one become a wise and vigilant consumer?
2. Have the students answer Review Questions on page 89 of the
textbook.
D. Transfer
1. Ask the students to collect humorous quotations about Filipinos as a buyer. Have the students share with the class what
they have collected.
2. Have the students think of other possible guiding principles
in buying a commodity aside from those mentioned in the
module.
3. Let the students access the weblink of Learn Ways to Track
Your Spending and Ways to Spend Money Wisely at i-learn.
vibalpublishing.com.
E. Valuing
1. Ask the students to prepare a sample advertisement enticing
consumers to buy a product or commodity that does not harm
or damage the environment, maximizes consumer satisfaction,
and prevents economic wastage from occurring.
2. Have the students answer Valuing on page 95 of the
textbook.
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✏ Materials
Textbook, graphic organizer
Module 11 The Rights and Responsibilities of Consumers
✏ Activities and Strategies
A. Explore
1. Let the class read the comic strip on page 90 of the textbook
and then ask them to react to it. Ask them if they would do
the same if they were in a similar situation.
2. Have the students answer Vocabulary on page 95 of the
textbook.
B. Firm up
1. Divide the class into five groups. Ask each group to present a
short dramatization of a consumer right listed in Table 11.1
on pp. 91-92 of the textbook.
2. Have the students answer the Review Questions on page 95
of the textbook.
D. Transfer
1. Tell the students to collect news regarding violations of consumer rights. What rights are often violated? Write a reaction
paper on this.
2. Let each student select one consumer-related law or regulation
and write an essay explaining how it helps protect his rights
as a consumer. Tell the students that they will be evaluated
according to a rubric found at the Appendix of this manual.
3. Have the students do Activities on page 95 of the textbook.
E. Valuing
Ask: Imagine a world without laws safeguarding the rights of
consumers and without government agencies protecting consumers. If you happen to live in that kind of world, what kind of goods
and services would be available to you?
2. Tell the students to read excerpts from news articles about
government agencies’ efforts to protect consumers. Get their
reaction on the news articles.
✏ Materials
3. Focus the students’ attention on Table 11.2 on p. 93 of the
textbook. Ask the students if the particular government
agencies mentioned are able to fulfill their duties regarding
consumer protection. Let them prove their answer by citing
instances which they heard or read.
Chapter 5
Textbook, news items about government efforts to protect
consumers
Production
Module 12 Factors of Production
✏ Activities and Strategies
C. Deepen
1. Ask the following questions to the students:
a. Why is it important to protect the rights and responsibilities of individual consumers? What is its implications
to the economy?
b. How else can the government further promote the rights
and responsibilities of consumers?
c. If you were given an opportunity to make a law that
will help protect consumers, which aspect of consumer
protection will you focus on and why?
A. Explore
1. Show the students pictures of either factories, firms, or establishments operating in the country. Ask them the following
guide questions.
a. What factors contribute to the ongoing operations of these
firms/establishments?
b. What is their significance in the production process?
2. Have the students answer Vocabulary on page 105 of the
textbook.
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B. Firm up
1. Let the students conduct a group report on the following preassigned topics:
a. Factors of Production – significant roles in the production
process (utilize a concept map for this activity)
b. Production Function – how to derive it and its relation to
the Law of Diminishing Returns
c. Returns to Scale – meaning and impact on the operation
of firms/establishments
d. Production and Costs – relations and impact or significance
2. Have the students answer Review Questions on page 105 of
the textbook.
C. Deepen
1. Ask the following questions:
a. What significant roles do each of the factors of production
play?
b. Why is a clear understanding and application of the Law
of Diminishing Returns very important especially for a
budding entrepreneur?
c. How do production and costs affect an entrepreneurs’
economic decision-making?
2. Have the students answer Review Questions on page 105
of the textbook.
D. Transfer
Have the students do Activities on page 105 of the textbook.
E. Valuing
1. Ask: Which of the four factors of production should be given
utmost attention and priority by the government to strengthen
and stabilize the economy? Why?
2. Have the students answer Valuing on page 105 of the
textbook.
✏ Materials
Textbook, graphic organizer, pictures of factories and establishment
Module 13 Business Organizations
✏ Activities and Strategies
A. Explore
1. Make a video presentation of different business organizations in the country. Include in the presentation the following;
name of organization, logo/emblem, owners, location, type of
operation, and others. Ask the students the following guide
questions:
a. What do these business organizations provide?
b. Why are they important?
2. Have the students answer Vocabulary on page 111 of the
textbook.
B. Firm up
1. Conduct a lecturette/socialized discussion on the concept of
business organizations and the importance of each to the
country’s economy.
2. Present a blank flow chart to the class. Let the students discuss
the steps in establishing a corporation. After the discussion,
let them fill in the flow chart to show these steps.
C. Deepen
1. Ask the following questions:
a. What distinct features or characteristics do these business
organizations possess?
b. Aside from the production of outputs for the economy,
what significant contributions do these business organizations render to the people and the government?
2. Let the students answer Review Questions on page 111 of the
textbook.
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Introduce to the class the local entrepreneur. Let the students ask as many questions as they want about the business
of the guest and about entrepreneurship. Guide the students
in their interview.
D. Transfer
1. Have the students compare and contrast single proprietorship,
partnership and corporation with the use of thinking tools
such as Venn diagram, network tree, and chart.
2. Have the students do Activities on page 111 of the textbook.
E. Valuing
1. Ask: What incentives would you like to receive from the government if ever you turn out to be a successful businessman
someday? Why?
2. Have the students do Valuing on page 111 of the textbook.
2. Let the students identify the characteristics of the successful
entrepreneurs featured in the textbook.
3. Discuss the steps that an entrepreneur should take so that
his/her expertise and abilities can be fully realized.
C. Deepen
1. Ask the students the following:
a. What makes a very good entrepreneur?
✏ Materials
b. Why should an entrepreneur continue to keep on innovating?
Textbook, graphic organizer, sample articles of incorporation and
by-laws from the Securities and Exchange Commission
Module 14 The Entrepreneur and the Business Empire
✏ Activities and Strategies
A. Explore
c.
How important is the entrepreneur in the economy?
2. Ask the students to read an article about the story of optimistic
and innovatice entrepeneurs. A link to this article can be found
at i-learn.vibalpublishing.com.
D. Transfer
1. Read the comic strip on page 112 of the textbook and answer
the following questions:
a. What is the conversation about?
b. What particular roles do they portray in the economy?
2. Have the students answer Vocabulary on page 115 of the
textbook.
1.
Continue the conversation in the comic strip on page 112 of
the textbook. Indicate in the conversation the applications of
what you have learned in this topic.
2. Have the students do Activities on page 115 of the textbook.
E. Valuing
Ask: How does an entrepreneur manifest responsibility in
handling the company and people he or she manages?
B. Firm up
1. Invite to the class a local entrepreneur in the community. Ask
the entrepreneur to participate in an interview in the class. If
no local entrepreneur is available, stand in as an entrepreneur
in this activity.
✏ Materials
Textbook, graphic organizer
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UNIT TEST
A. Identify what is being described in each item.
1. The type of advertisement which makes it appear that consumers
could suffer rejection or miss opportunities if they do not use a
certain product (scare)
2. The value of what one gives up in order to have a good (opportunity
cost)
3. Employed persons who express the desire to have additional hours
of work in their present job or an additional job, or to have a new
job with longer working hours (unemployed)
4. A graph which shows the possible combinations of output an
economy could produce given the available factors of production
and technology (production possibility frontier)
5. A universal economic fact which means that there are not enough
resources to produce all the goods and services that could satisfy
man’s unlimited wants (scarcity)
6. The one who organizes land, labor and capital, makes business
decisions, innovates and bears risks for his decisions (entrepreneur)
7. Economic system wherein the government has a centralized system
of planning which covers what to do, how to do it, when to do it,
and for whom to do it (command economy)
8. Structures and equipment needed for other production to take
place or those structures equipment that directly improve the
well-being of the public (social overhead capital)
9. The only quadrant of the rectangular coordinate system which
is relevant in the study of economics (first quadrant)
10. Used to test hypotheses regarding the relationship among
economic variables (statistical analysis)
B. Write True if the statement is true. If it is false, change the underlined
word/s to make the statement correct.
1. The three major categories of physical capital are structures,
equipment, and inventories of inputs and outputs. (True)
2. According to Abraham Maslow, Love and Belonginess Needs have
to be satisfied before any other need. (Physiological Needs)
3. Regionalism refers to the tendency to prefer buying goods coming
from one’s place of origin. (True)
4. The allocation of resources is said to be efficient when it involves
the least cost possible. (produces the maximum satisfaction
possible)
5. Wants are the things necessary for survival. (Needs)
6. The marginal utility of a good to a consumer is the additional
satisfaction that a consumer gets from consuming one more unit
of that good. (True)
7. It is easier to deal with a shortage than with scarcity. (True)
8. The Right to Accurate Information refers to the right of consumers
to be protected against goods that may endanger their life and
health. (Right to Safety)
9. Constant returns to scale happens when a change in all inputs
results in a more-than-proportional increase in output.
(Increasing)
10. A partnership is a business organization owned by and operated
for the benefit of those using its services. (cooperative)
C. Enumerate the following.
1. Three classifications of the economic resources of a country
a. natural resources
b. human resources
c. capital resources
2. Four factors of production
a. land
c. capital
b. labor
d. entrepreneur
3. Four forms of business organization
a. individual proprietorship
c. corporation
b. partnership
d. cooperative
4. Three types of consumption
a. direct consumption
b. productive consumption
c. wasteful consumption
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UNIT
II MICROECONOMICS
C. Application
Ensure cooperative learning and active participation among
students through research works and computation of data
or entries on assigned activities
Number of days: 47
STAGE 1 : DESIRED RESULTS/OUTCOME
Content Standard
Performance Standard
Show understanding of how demand, supply, and price affect
consumer behavior in the different
market structures
Compute and interpret graphs, schedules, mathematical operations that help
illustrate the interaction of demand and
supply and its effects on price in the
different market structures
Essential Understanding
Essential Questions
The interaction between demand
and supply of goods in the different
market structures of the economy
will affect the determination of its
price and will in effect bring about a
change in consumer behavior.
1. What effect do demand and supply
have on price?
2. How is price determined under the
different market structures?
3. How important is the Law of Demand
and the Law of Supply to consumers?
D. Perspective
Justify that the interaction between demand and supply will
determine price and influence consumer behavior
E. Empathy
Put oneself in the shoes of a consumer or producer and
how she or he is affected by any price change in a given market
structure
F. Self-knowledge
Realize that the interaction between demand and supply
affects the prices of goods and services available in the market
and that this will influence, in effect, consumer behavior related
to that particular good or service
Evidence at the Level of Performance
☛ Authentic Assessment
STAGE 2: ASSESSMENT
Evidence at the Level of Understanding
A. Explanation
Explain how the interaction between demand and supply
determine the price of goods and services in different market
structures, and how the resulting changes influence consumer
behavior.
B. Interpretation
Examine and interpret how the interaction of supply and
demand determines price and its effects on consumers through
graphs, charts, tables, and other thinking tools
1. Have the students prepare their own schedule of food consumption. Include in the schedule the quantity consumed at different
price levels. Explain what factors affect the consumption of such
good.
2. Have the students plot the data in the above schedule on a graph
and interpret its meaning.
☛ Traditional Assessment
A. Write the word that completes each sentence:
1. An increase in the price of a good when demand is inelastic
causes the total expenditures of consumers of such good
to (rise).
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2. The maximum legal price for a certain good in a particular
market is called the __________. (price ceiling)
3. The minimum legal price is referred to as the ______________.
(price floor)
4. The price at which Qd is equal to Qs, ceteris paribus, is called
the __________. (equilibrium price).
5. A market situation wherein there is only one buyer is called
__________. (monopsony)
B. Complete the following analogies by filling in the blank with the
correct answer.
1. one buyer: monopsony :: one seller: (monopoly)
2. price ceiling: shortage :: price floor: (surplus)
3. few sellers: oligopoly :: few buyers: (oligopsony)
4. product differentation: monopolistic competition :: (interdependence): oligopoly
5. OPEC: oligopoly :: MERALCO: (monopoly)
STAGE 3: INSTRUCTIONAL PLAN
Chapter
6
Demand, Supply, and Price
Module 15 DEMAND
✏ Activities and Strategies
A. Explore
Ask the students the following questions:
a. What do you buy with your daily or weekly school
allowance?
b. Why do you have to allocate your allowance among the
different goods that you want to buy?
Based on the students’ answers, derive the definition
and concept of demand.
B. Firm Up
1. Use the tree map below as guide for discussion of the factors
that influence demand.
Demand
C. Compute the elasticity of demand and supply based on the
following variables.
a. Demand
Q2 = 400
P2 = 60
Q1 = 250
P1 = 100
b. Supply
Factors that
influence demand
Price
Q2 = 40
P2 = 6,000
Q1 = 20
P1 = 3,000
Non-Price Factors
Income
Answers:
a. 0.92; inelastic
b. 0.39; inelastic
Price of
substitute or
complimentary
goods
Taste
Expectation
of buyers
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2. Have the students conduct a group report on the following
topics:
a. Group A — Movement of demand along the same curve
b. Group B — Shift of the demand curve to the left; to the
right
3. To assess the performance of students in reporting, use the
rubric for group report in the Appendix.
2. Tell the students to research about Giffen goods on the
Internet. Give examples. Ask: Despite having a high price,
why is it that the quantity demand continues to rise? Write
an essay about this.
3. Have the students do Activities on page 123 of the textbook.
E. Valuing
1. Ask: What is the importance of the Law of Demand to you as
a student and as consumer?
C. Deepen
Ask the students the following:
1. Why are quantity demanded and price inversely proportional?
2. What is the effect of the movement of demand along the same
curve, and its shifts to left/right on quantity demand and
price?
3. How do price and income affect quantity demanded and
consumer behavior?
2. Have the students develop a “what to do” list and “what to
buy” list on goods and services when prices are high/low. Have
them describe these lists.
3. Have the students answer Valuing on page 123 of the
textbook.
✏ Materials
Textbook, tree map, graph
D. Transfer
1. Let the students make a graph of the demand schedule for the
production of value meals based on the table below. Explain
how the Law of Demand is applied in this situation.
DEMAND SCHEDULE FOR PRODUCTION OF VALUE MEAL
Module 16 Supply
✏ Activities and Strategies
A. Explore
Points
Price/Value Meal
(in pesos)
Quantity Demanded
(servings)
A
25
10
Guide the class through the following questions:
B
35
8
1. What does the picture/classified ad convey?
C
40
6
D
59
4
2. Is the concept of supply and the Law of Supply present
in the above situation? How?
E
65
2
Present to the class a picture of job applicants during job fairs
or classified ads advertising the need for job applicants.
3. Why is it important to study supply and the law of
supply?
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B. Firm Up
1. Use the tree map below as guide for discussion of the factors
that influence supply.
Supply
3. How do price and income affect quantity supplied and the
behavior of a consumer or a producer?
D. Transfer
1. Ask the students to make a graph of the production of value
meals based on the following supply schedule:
SUPPLY SCHEDULE FOR PRODUCTION OF VALUE MEAL
Factors that Influence Supply
Non-price Factors
Price
Number of
producers
Change
in the price
of factors of
production
Price of
related
products
State of
technology
Expectations
of the future
2. Prepare the students to conduct a group report on the
following topic
a. Group A — Movement of Supply Along the Same Curve
b. Group B — Shift of the Supply Curve to the Left; to the
Right
3. Have the students answer Review Questions on page 127
of the textbook.
C. Deepen
Ask the following questions:
1. Why are quantity supplied and price directly proportional?
2. What are the effect of the movement of supply along the
same curve on quantity supplied and where there is a change
in price?
Point
Price/Value Meal
(in pesos)
Quantity Supplied
(in servings)
A
B
C
D
E
25
35
40
59
65
2
4
6
8
10
2. Let the students write an essay with this theme: What
makes a significant choice of supply by the consumer and
by the producers? Use the rubric for essay found in the
Appendix.
3. Have the students do Activity on page 127 of the textbook.
E. Valuing
Ask the students the following:
1. What is the importance of the Law
of Supply to you as consumer and
as producer?
2. What values or priorities are
exhibited by a producer who carefully studies the conditions in
the market before increasing or
decreasing output?
✏ Materials
Textbook, pictures, tree map
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Module 17 Determination of Price by Demand and Supply
C. Deepen
Let the students answer the following questions:
✏ Activities and Strategies
A. Explore
1. Let the students examine the illustration on page 128 of the
textbook. Let them answer the following:
a. What idea or concept is conveyed by the picture?
b. Based on the students’ answers, let them define
equilibrium.
1. How do buyers and sellers influence the market in attaining
the equilibrium level?
2. What are the effects of government actions on market
prices?
3. Why is supply and demand analysis important?
D. Transfer
1. Based on the following graphs, ask the students to write the
effect of a shift in supply and demand on equilibrium quantity
and equilibrium price.
Demand Curve and Supply Curve
Price
P
D1
D2
Quantity
P
Price
B. Firm Up
1. Let the students analyze Figures 17.1, 17.4, and 17.5 on
pp. 129, 132, and 133 of the textbook. Then ask the following
questions:
a. When do supply and demand reach or attain the equilibrium point?
b. How does the market solve the issue of shortage and surplus?
c. What conditions allow for a change of equilibrium in the
market?
2. Ask the students to derive the meaning of the concept of
equilibrium and the effects of surplus and shortage on the
market.
3. Group the class into four. Assign the following topics to each
group.
a. Group A — Effects of a supply shift using Figure 17.2
on page 130 of the textbook
b. Group B — Effects of a demand shift using Figure 17.3
on page 130 of the textbook
c. Group C — Application of demand and supply in the
economy
d. Group D — Effects of government actions on market prices
4. Let the students watch the video that explains the concept
of market equilibrium. A link to this video can be found at
i-learn.vibalpublishing.com.
D2
D1
Quantity
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Effect
a. What happens to price in the above situations?
b. How do consumers respond to it?
c. Will there be a positive/negative response to the above
situations? If so, when?
S2
Price
S1
P
B. Firm Up
1. Tell the students to study the formula on pp. 140 and 142
of the textbook. Ask them to compute the price elasticity of
demand and supply on page 143 of the textbook. Review and
check their works.
2. Conduct analysis of graphs of supply and demand. Give
examples of product/good per graph. Ask the students what
their reactions will be if the prices of these goods are lowered
or increased.
Quantity
S1
Price
S2
P
Quantity
2. Have the students write an essay describing the effects of
market shortage/surplus to an individual, the family, and the
country.
3. Have the students do Activity on page 135 of the textbook.
E. Valuing
Ask: What factors should the buyers and sellers consider in
deciding how much of a commodity to buy or sell?
✏ Materials
Textbook, caricature, graphs
Module 18 Elasticity of Demand and Supply
✏ Activities and Strategies
A. Explore
1. Have the students comment on the following headline news.
Air fares at 51.00 +++
Gas prices continue to go up
Price of pandesal goes up once again
C. Deepen
Guide the students through the following questions:
1. Why are there goods or services that respond positively or
negatively to a change in price?
2. What do the different degrees of elasticity illustrate about
consumers’ responses and behavior to a change in price?
Justify your answer.
3. Why should ordinary consumers and businessmen know the
concept of price elasticity?
4. How do firms respond to perfectly price elastic demand or a
perfectly price inelastic demand?
D. Transfer
1. Have the students compute the price elasticity of demand and
supply using the following data:
a. Demand
Q2 = 200
P2 = 25
Q1 = 400
P1 = 21
b. Supply
Q2 = 60
Q1= 20
P2 = 4,000
P1 = 2,000
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E. Valuing
Ask: How should a responsible consumer respond to a change
in price of basic necessities and luxury goods?
2. Ask the students to interpret the following graphs:
Demand
P
Supply
P
✏ Materials
a.
Textbook, graph, calculator
a.
Chapter
Q
Q
P
P
b.
Q
P
P
c.
c.
Q
Q
P
Market and Market Structure
Module 19 Market Economy and Market Structure
✏ Activities and Strategies
b.
Q
7
P
A. Explore
Show the students logos or symbols of MERALCO, OPEC,
Globe, and a softdrink company. Show them also pictures of people
queueing at the OWWA/POEA office looking for jobs abroad.
Introduce the lesson through the following questions:
1. What do the pictures/logos symbolize or represent?
2. What services do they offer?
3. What benefits do you get when you transact business
with them?
B. Firm Up
1. Let the students do an oral report about market structure
with the use of this bubble tree.
Market Structure
d.
d.
Q
Q
P
Perfect Competition
Imperfect Competition
Oligopoly
P
e.
Monopoly
e.
Monopsony
Q
Q
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Monopolistic Competition
2. Have the students fill-up the data retrieval chart below and
explain how price, demand, and supply are determined in
each type of market.
Market Structure
Determinant
of Price
Determinant
of Supply
D. Transfer
1. Ask the students to write the distinct features or characteristics of the following market structures:
Market Structure
Determinant
of Demand
Characteristics/Features
1. Perfect Competition
1. Perfect Competition
2. Imperfect Competition
2. Imperfect Competition
a. Monopoly
a. Monopoly
b. Oligopoly
b. Oligopoly
c. Monopolistic Competition
c. Monopolistic Competition
d. Monopsony
d. Monopsony
2. Have the students do Activities on page 151 of the textbook.
3. Have the students answer Review Questions on page 151 of
the textbook.
C. Deepen
1. Let the students watch the video that explains the different
market structures. A link to this video can be found at i-learn.
vibalpublishing.com.
2. Ask the following questions:
a. What are the strengths and weaknesses of each type
of market?
E. Valuing
1. Ask the students: If you were a monopolist, what direction
will you let the company take to balance the goal of accumulating profit and at the same time attaining customer
satisfaction?
2. Have the students answer Valuing on page 151 of the textbook
✏ Materials
Textbook, logos of different companies, pictures of jobhunters,
graphic organizer
b. Which of the type of market fits the Philippine economy?
c.
Why should the Philippine economy subscribe to this
type of market?
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UNIT TEST
A. Modified True or False. Write T if the statement is true. Otherwise, change the underlined word or words to make the statement
correct.
_________ 1. The demand curve of a competitive producer is
horizontal. (T)
_________ 2. For a monopolist, marginal revenue is lesser than
output. (price)
_________ 13. The quantity of a good or service that buyers are
willing to purchase at a given price refers to supply.
(demand)
_________ 14. An increase in a buyer’s income has a positive effect
on quantity demanded of a good or service. (T)
_________ 15. Goods consumed together like SIM cards and cellphones, flashlights and batteries are examples of
complimentary goods. (T)
_________ 3. When the demand curve is inelastic, marginal revenue
is negative. (T)
_________ 16. The graph that illustrates the relationship between the
price of a good or service and the quantity supplied is
the supply curve. (T)
_________ 4. An increase in the price of a commodity when demand
is inelastic causes the total expenditures of a consumer
of the commodity to rise. (T)
_________ 17. Payments made to capital as factor of production is
interest. (T)
_________ 5. Price ceiling refers to the maximum legal price for a
certain good in a particular market. (T)
_________ 18. Taxes imposed on imported goods are called
tariffs. (T)
_________ 6. The government’s policy of reducing or eliminating
government regulations that affect private firms is
called privatization. (deregulation)
_________ 19. Demand is said to be inelastic if the price elasticity of
demand coefficient, ED is greater than 1. (less)
_________ 7. The price at which quantity demanded is equal to
quantity supplied, ceteris paribus, is known as equilibrium price. (T)
_________ 8. A type of market with only one buyer is called monopsony. (T)
_________ 9. Price floor is the minimum legal price for a certain good
in a particular market. (T)
_________ 10. The Law of Supply illustrates the positive relationship
between the quantity supplied and price. (T)
_________ 11. Microeconomics is the study of small units in the
economy such as households and firms. (T)
_________ 12. In economics, a market is an arrangement by which
buyers and sellers interact to trade a good or service.
(T)
_________ 20. We derive the price elasticity of supply by computing
the percentage change in quantity supplied divided
by the percentage change in price. (T)
_________ 21. A type of market in which there are few sellers is called
an oligopoly. (T)
_________ 22. A cartel is an example of an oligopolistic market. (T)
_________ 23. The English economist and philosopher Freidrich
Engels believed that the economy could be managed
smoothly even without government interference.
(Adam Smith)
_________ 24. Price control refers to the fixing of prices by the
government. (T)
_________ 25. There is a shortage of goods and services when prices
are lower than the equilibrium price. (T)
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B. Enumerate the following.
1. Non-price factors affecting demand
C. Tell the effect on equilibrium price (EP) and equilibrium quantity
(EQ) of the following.
a. (income)
1. Improvement in technology — (decrease in EP, increase in EQ)
b. (population)
2. Increase in income — (increase in both EP and EQ)
c.
3. Decrease in price of substitutes — (increase in both EP and EQ)
(price of related goods or commodities)
d. (taste)
4. Increase in taxes — (increase in EP, decrease in EQ)
e.
5. Increase in the number of sellers while there is a decrease in the
number of consumers — (decrease in both EP and EQ)
(expectation of buyers)
2. Non-price factors affecting supply
a. (change in the price of factors of production)
b. (change in the price of related products)
c.
(change in the number of producers)
d. (technological improvement)
e.
1. Suppose the demand function and supply function of a
commodity are given respectively as: Qd = 500-3P and Qs ; -3+8P,
what is EP?
Answer: EP = 45.72
(expectations)
3. Characteristics of a perfectly competitive market
a. (many buyers and sellers)
b. (product is homogenous)
c.
D. Problem Solving.
(freedom of entry and exit)
2. Compute and identify the type of elasticity:
a. P1 = 20; Qd1 = 200
P2 = 30; Qd2 = 100
Answer: 1.65; elastic
d. (perfect information about market conditions)
4. Two distinct types of market structure
a. (perfectly competitive market)
b. (imperfectly competitive market)
b. P1 = 200; QS1 = 30
P2 = 200; QS2 = 60
Answer: 1; unit elastic
5. Barriers to entry in a monopolistic market
a. (legal restrictions)
b. (patents)
c.
(exclusive ownership of a key resource or input)
d. (the need for a large investment)
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UNIT
III MACROECONOMICS
C. Application
Share responsibility and foster team effort in ensuring that
the economy, through the government and other institutions,
will address various economic phenomena as efficiently and
effectively as possible
Number of days: 47
STAGE 1 : DESIRED RESULTS/OUTCOME
Content Standard
Performance Standard
Show understanding of the
significance of macroeconomic
phenomena and their effects on
the lives of the people and the
workings of the economy
Prepare and interpret charts, graphs,
and statistical data that show relationships
between and among various aggregates
in the economy and their effects on the
people and the government.
Essential Understanding
Essential Questions
The country’s economic growth
and progress can only be attained
when its people and government
show understanding of how macroeconomic concepts, phenomena,
or events operate within the
economy and who an informed
decision efforts of its leaders can
ensure its desired level of stability.
1. What macroeconomic phenomena
directly affect us, and why do these
occur?
2. How does the government respond to
various macroeconomic phenomena?
STAGE 2: ASSESSMENT
Evidence at the Level of Understanding
A. Explanation
Explain how different macroeconomic phenomena occur and
how they affect the people in particular and the economy in general
B. Interpretation
Read and interpret meanings and significance of various macroeconomic phenomena such as employment, inflation, and taxes
utilizing different thinking maps and tools and economic models
D. Perspective
Justify that various economic phenomena occur as an effect
of different market forces linked to each other globally or locally,
and that government or other institutions must have built-in
safeguards against such
E. Empathy
1. Put oneself in the shoes of the President as an economic/political leader
2. Put oneself in the shoes of those who are greatly affected during such economic phenomena such as inflation, unemployment, low income and high prices, and commit oneself to share
whatever he/she can to stabilize and uplift the economy.
F. Self-knowledge
1. Realize that there are economic phenomena which are dependent upon global market forces and that the government must
exercise its economic function as specific situations warrant
2. Realize that the role of a responsible and committed individual is important in the attainment of a country’s economic
goals such as price stability, curbing inflation, and preventing
wastage
Evidence at the Level of Performance
☛ Authentic Assessment
1. Draw a caricature depicting business transactions between
households and firms. Describe how each of the inputs or factors
of production contribute to attain a balanced economy.
2. Prepare a multimedia presentation showing the trends and
statistical updates on employment, inflation, and consumer
price index.
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☛ Traditional Assessment
A. Write T if the underlined word/s make the statement correct,
otherwise change it.
______________ 1. Microeconomics is a study of aggregates.
(Macroeconomics)
______________
(households)
2. In a two-sector economy, the owners of inputs
or factors of production are the firms.
______________
(T)
3. The firms sell goods and services to the
households.
______________
(Cyclical)
4. Frictional unemployment is characterized by
a low over-all demand for labor.
______________
(T)
5. GNP reflects the total final output produced
by an economy in a given year.
______________
(T)
6. Inflation occurs when there is too much
money chasing too few goods.
______________
(T)
7. Income not spent equals savings.
______________
(S)
8. In a two-sector economy, C = I
______________
(T)
9. In a three-sector economy, taxes are outflows
of national income.
______________
(GNP deflator) 10. The price index used to transform nominal
GNP into real GNP is called GNP gap.
B. Fill in the blank with the correct answer. Encircle the letter of the
answer.
1. An economic phenomenon which refers to the sustained rise
in the weighted average price of goods and services is known
as _______.
a. CPI
c.
potential GNP
b. inflation*
d. externalities
2. Fixed income earners such as government employees ________
during inflation.
a. lose*
c.
benefit
b. earn
d. break-even
3. The government’s management of taxes and expenditures is
called ________.
a. fiscal policy*
b. monetary policy
c. pump-priming the economy
d. economic role of government
4. Another term for the paper money currently used in the country is ________ money.
a. commodity
c. fiat*
b. token
d. paper
5. When aggregate demand exceeds potential output, the type
of inflation that occurs is ________.
a. cost-push
c. hyperinflation
b. demand-pull*
d. staggered inflation
6. When all of society’s resources are fully employed and used
for production, the country’s ________ GNP is attained.
a. real
c. potential*
b. actual
d. nominal
7. The foremost indicator of an individual’s capacity to consume
goods and services is his or her ________.
a. personal income
c. national income
b. disposable income*
d. company income
8. The ________ imposed by the government on individuals
decreases their disposable income.
a. services
c. laws
b. prices
d. taxes*
9. When aggregate demand is increasing too fast, government
raises taxes and ________ its expenditures.
a. increases
c. decreases*
b. normal
d. average
10. The ________measures the relationship between a given year’s
price and the price for a selected base year.
a. consumer price index
c. retail
b. wholesale
d. price index*
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STAGE 3: INSTRUCTIONAL PLAN
Chapter
8
Macroeconomics and the National Economy
Module 20 The Scope of Macroeconomics
✏ Activities and Strategies
A. Explore
1. Do a multimedia presentation of economic headline news that
show pictures or anecdotes on households and firms in the
economy.
2. Use the following questions as guide for discussion:
a. What does the presentation convey?
b. What are the functions of each sector in the overall
performance of the economy?
c. Why do economic problems still exist despite the flow of
expenditure and income in the economy?
B. Firm Up
1. Divide the class into two groups, each with assigned specific
tasks:
a. Group A — Using a flow chart, the students will illustrate
how interaction between two sectors (household and firm)
occurs.
HOUSEHOLD
FIRMS
b. How does each contribute to the economic performance of
the country?
c. What triggers the economy to experience inflation and
unemployment?
d. How will the government pursue economic growth for the
country?
2. Have the students answer the Review Questions on page 159
of the textbook.
D. Transfer
1. Let the students cut pictures from magazines/newspapers that
represent the household sector and firms. Have them make
a collage out of these pictures. Label each picture as to the
sector it belongs to and explain why it is appropriate to be in
that particular sector.
2. Have the students do Activities on page 159 of the textbook.
E. Valuing
1. Ask the students the following:
a. As part and representative of the household sector and
in your capacity as consumer of produced goods, how will
you be able to influence the firms with respect to the kind
of goods that they sell in the market?
b. How should government and individuals respond whenever
the problems of inflation and unemployment creep in?
2. Have the students answer Valuing on page 159 of the textbook.
✏ Materials
Textbook, pictures of firms and households, flow chart, magazines,
newspaper
b. Group B — This group will do an oral report on the possible
problems that may arise when there are factors that
may affect the smooth flow of interaction between the
household and the firms.
C. Deepen
1. Ask the students the following:
a. Why is the interaction between the two sectors necessary?
Module 21 Different Models of How Incomes and Expenditures Flow
✏ Activities and Strategies
A. Explore
Ask the students in your class the following:
a. How much is your family’s monthly income and what are
your monthly expenses?
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b. Who benefit every time the family spend their income? Why?
Based on their responses, derive the concepts of how
income and expenditures interact.
B. Firm Up
1. Group the students into three. Each group will do an oral report
on the three models of the flow of income and expenditures
in the economy. See pp. 161-163 of the textbook. Instruct each
group to download the latest statistical data from the Internet
to update their report. The students may also utilize the figures
in their reference book.
a. Group A — Figure 21.1 initial model, page 161
b. Group B — Figure 21.2. second model, page 162
c. Group C — Figure 21.3, third model, page 163
Students’ report will be guided by the following questions:
a. What are the significant sectors/entities in the model?
b. What are the distinct characteristics of each? Why are
they considered important?
c. How will the economy be affected by disruptions in the
flow of income and expenditures?
2. Guide the students in doing an interview with individuals
who play significant parts in the interaction between income
and expenditures. Ask them to use the following topics as the
focus of their interview.
a. National Statistics Office representative — three models
of flow income and expenditure, important entities
b. Department of Finance representative — distinct characteristics of each model, interaction of entities, disruptions
to the flow
c. Central Bank representative — positive and negative
implications to the economy brought about by the interactions, programs to cushion the negative effects and the
government role in effecting a balance
3. Have the student answer the Review Questions on page 165
of the textbook.
C. Deepen
Ask the students the following:
1. Why is it important to have a balanced and stable flow of
income and expenditure in the economy?
2. Does the Philippines experience a balanced flow of income and
expenditures in the economy?
3. How should government respond to outflows in the circular
flow of income and expenditures?
D. Transfer
1. Ask the students to develop an essay with the theme, “My Role
in Sustaining a Balanced Economy.”
2. Let the students prepare a chart/model of their family’s
annual income and expenditures. Utilize the concepts learned
as guide.
3. Have the students do Activities on page 165 of the textbook.
E. Valuing
1. Ask: Justify the government action or policy to either lower
or raise government spending when there is a need for such
to balance the economy.
2. Have the students answer Valuing on page 165 of the textbook.
✏ Materials
Textbook, flow charts, graphic organizer
Module 22 Measuring National Output
✏ Activities and Strategies
A. Explore
Show pictures of goods and services found and produced in the
Philippines. Ask the students the following questions:
1. What constitute the country’s national output?
2. How does a country measure its economic growth?
3. Why do prices influence the level of a country’s production
of goods and services?
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B. Firm Up
1. Use a network tree to describe the important ideas and concepts related to the topic.
National Income
Approaches to Determining National Income
Income
Approach
Expenditure
Income
Approach
Approach
Value Added
Approach
1.
2.
3.
4.
C. Deepen
Discuss the following in class:
1. Why is it necessary to examine each item or component in the
national income or output?
2. What are the implications when national output is high/low?
3. Why is the level of production affected by price?
4. How does a country respond when production is at its lowest?
highest?
5. What is the importance of measuring our production output?
D. Transfer
Let the students compute for the personal income, personal
savings and disposable personal income given the following
data.
Given: National Income
Profit of corporation
SSS contributions
Transfer
Interest payments
Dividends
Components or Items Found
1.
2.
3.
4.
2. Group the students into three. Let each group discuss a
specific approach to determine national income.
1.
2.
3.
4.
5 (in million)
560
74
29
40
21
19
Personal income = ___________
Based on this personal income, assume that the additional
data below is given.
Formula
Formula
Formula
Formula
Formula
Formula
5 (in million)
Personal taxes
66
Consumption
432
Interest payment
12
Personal savings = __________
Disposable personal income = _______
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C. Deepen
E. Valuing
Have the students prepare a skit or advertisement enticing or
encouraging people to patronize locally made products.
1. Discuss the following in class:
a. How do we determine the impact of inflation on an ordinary
citizen and on the economy?
✏ Materials
b. How should government cushion this impact?
Textbook, graphic organizer, calculator
c.
Chapter
9
Inflation and Government Policy
Module 23 Inflation
How does inflation affect consumers and producers? How can
we deal with such effects?
D. Transfer
✏ Activities and Strategies
A. Explore
Cite headline news which show people’s usual behavior
whenever prices of basic commodities such as sugar, cooking oil,
bread and milk go up. Ask the following:
1. What causes the price of commodities to go up?
2. How does one measure the change in price level of basic
commodities?
3. How are you affected by this change in price?
B. Firm Up
1. Conduct a lecture forum in class about inflation. Assign a
lecturer who will expound on subtopics based on the central
or main topic. An open forum will follow after the lecture.
The teacher will act as facilitator during the open forum.
2. Conduct a panel discussion in class. Invite speakers to discuss
the following topics:
a. Inflation — types, causes, and effects
b. Government’s role to combat inflation, its program and
policies
c. Inflation and how its affects the ordinary citizen, and the
country
d. Purchasing Power of Peso and the Consumer Price Index
— meaning and effects
Prepare a matrix showing the actual prices of any ten goods or
products of your choice and their prices three years ago. Compute
the inflation rate using 2007 as your base year. Refer to page 181
of the textbook for the data.
E. Valuing
Prepare a “what to do list” and “what to buy list” in times
of inflation. Justify the items in your lists.
✏ Materials
Textbook, newspaper, matrix
Module 24 The Governmentʼs Fiscal Policy
✏ Activities and Strategies
A. Explore
Read to the class this news headline: “Budget Proposal
Subjected to Intense Debate and Criticism by Congress.” Based
on the headline, ask students the following questions:
1. Why is there a need to examine the proposed national
budget?
2. What role does Congress play in the enactment of the
national budget?
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B. Firm Up
1. Mock Session in Congress. Students will observe the parliamentary procedure during the deliberation on a proposed
additional tax measure. The positive and negative implications
of the additional tax on individuals and the economy must be
given salient points.
2. Talk Show. With “Must Congress Pass New Tax Measures?”
as its central theme, the host will invite a representative from
Congress, an ordinary citizen, an employee, an economist,
and a businessman. Each one will defend her/his stand on
the issue.
3. To know more about taxes ask the students to read the important provisions of Republic Act 9337 at i-learn.vibalpublishing.
com.
4. Have the students answer Vocabulary on page 194 of the
textbook.
E. Valuing
1. Ask: Which government project/program should be given
priority in budget allocation by government and why?
2. Have the students answer Valuing on page 194 of the textbook.
✏ Materials
Textbook, graphic organizer, newspaper
Module 25 The Governmentʼs Monetary Policy
✏ Activities and Strategies
A. Explore
Ask the following questions:
1. Why do people flock to malls or supermarkets during holidays
such as Christmas or New Year?
2. What determines their spending behavior during such days?
3. How does government influence this behavior?
C. Deepen
1. Use the following guide questions to facilitate the discussion
of the topic.
a. What happens to the economy when government operates
on a budget deficit? budget surplus?
b. How does the government respond when there is an increase or decrease in aggregate demand?
c.
What is the role of fiscal policy in the macroeconomy?
2. Have the students answer the Review Questions on page 194
of the textbook.
D. Transfer
1. Let the students develop a poem or a song with a concept
or ideas similar to “Magtanim ay Di Biro.” Justify your stand
using the concepts learned.
2. Have the students do Activities on page 194 of the textbook.
B. Firm Up
1. Let the students play the following character with its corresponding topic and tell them that they will be evaluated
according to the rubric found in the Appendix.
a. Governor of the Bangko Sentral ng Pilipinas (BSP) —
monetary policy of the Philippines, its role in the economy
b. Prominent economics professor — evolution of money,
form and function of money
c. Chairperson of the Senate Committeee on Banks, Financial Institutions and Currencies — kinds of monetary
institutions
2. Call on five students who will conduct a roundtable discussion
on the topic, “The Government and its Monetary Policy.” One
will act as moderator.
3. Ask the students to know about the BSP’s approach to
monetary policy. A link to its website can be found at i-learn.
vibalpublishing.com.
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Module 26 The International Monetary System
C. Deepen
1. Ask the guide questions for the roundtable discussion:
a. How did money evolve?
b. How does the BSPs control the money supply?
c.
How does a strong or weak monetary policy affect the
economic activity of a country?
d. What is the key role of the BSP in influencing interest
rates and the flow of investments?
2. Let the students deepen their understanding of the important
concepts about monetary policy. Test their skills by doing a
game on monetary policy found at i-learn.vibalpublishing.com.
3. Have the students do Activities on page 209 of the textbook.
D. Transfer
✏ Activities and Strategies
A. Explore
1. Show the students pictures of the World Bank (WB) and
International Monetary Bank (IMF) logos. Ask them the
following questions:
a. What do the logos in the pictures represent?
b. What role do these institutions play in the international
economy?
c.
Why are they important?
2. Have the students answer Vocabulary on page 215 of the
textbook.
B. Firm Up
Let the students use the formula on page 203 and Table 25.2
on page 204 of the textbook as their guide in completing the
table below.
1. Film Showing. Let the students watch any World War II movie
showing the destruction it brought to lives and properties
and its effects on the world economy. With the teacher as
facilitator, students will focus their discussion on the historical
background on the creation of the World Bank/International
Monetary Fund.
Reserve Requirement
Ratio (RR)
Ratio that Can Be
Loaned Out
Money Multiplier
5
95
______
8
92
______
12
98
______
a. NEDA director general
15
85
______
b. BSP governor
2. Interview. Guide the students in conducting an interview on
the international monetary system and its role in stabilizing
and managing the world economy.
c.
ADB representative
E. Valuing
Ask the students if they believe in this statement: “Money is
the root of all evil.” Let them justify their answer.
C. Deepen
1. Ask the following questions:
a. What brought about the creation of the IMF/WB?
✏ Materials
Textbook, calculator, graphic organizer
b. How did the international monetary system manage and
regulate the global economy after World War II?
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c.
Why do countries adopt different systems of exchange
rates?
d. Which exchange rate system is used by the Philippines?
Why?
2. Have the students answer Review Questions on page 215 of
the textbook.
D. Transfer
1. Ask the students to write an essay about the statement, “When
Uncle Sam sneezes, Juan dela Cruz catches a cold.”
E. Valuing
Let the students make a stand on this issue: It is alright for
the Philippines to borrow from international monetary institutions
to finance its economic development programs.
8. Refers to the sum of the expenditures of firms, households, government, and other countries (aggregate spending)
9. Refers to the “wear and tear” of capital or the gradual decline in
its value (depreciation)
10. Refers to GNP at constant prices (real GNP)
11. The use of taxation and government spending to influence the
level of income (fiscal policy)
12. Income which is not spent (savings)
13. The form of money wherein the value of the metal is less than the
value imprinted on it (token money)
14. The first paper money used in the Philippines (pesos fuertes)
15. The buy and sell operation of government securities to increase
or decrease money supply (open-market operation)
B. Enumerate the following.
✏ Material
1. The main sectors of the economy — (firms, households, government)
Textbook
UNIT TEST
2. The distinct types of unemployment — (cyclical, structural,
frictional)
A. Identify the following.
1. The division of economics that deals with aggregates (macroeconomics)
2. The section of the economy which pays out income for the labor
provided by households (firms)
3. The market value of the final goods and services produced in a
given year (Gross National Product)
4. The type of unemployment wherein the mismatch between the
supply for and the demand for labor is highly evident (structural
unemployment)
5. The amount that firms spend on goods to be used for further
production (investment expenditures)
6. It is the government’s main source of revenues. (taxes)
7. A situation wherein there is a general increase in the average
level of prices of goods and services (inflation)
3. The approaches in measuring GNP — (expenditure approach,
income approach, industrial origin approach)
4. The measures of inflation — (GNP deflator, CPI, WPI, PPI)
5. Types of inflation — (demand-pull, cost-push)
6. Functions of BSP — (set monetary policy, print and issue money,
act as government bank, maintain forex reserves, regulate financial
institutions)
C. Encircle the letter of the correct answer.
1. In a model with government investment and foreign sector,
the GNP is the total of _________.
a. consumption, gross investment, net exports, and government
expenditures for goods and services*
b. wages, rent, interest, and depreciation
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c.
7. In the consumption and investment model (private sector), the
equilibrium level of income occurs where _________.
national income and indirect taxes
d. net investment and net exports
a. planned consumption = planned investment
2. Personal income refers to _________.
a. national income minus indirect taxes*
b. aggregate supply = planned investment
b. income from household sector for its expenditures
c.
c.
d. savings = investment
income received by households in a given year
d. total income and interest received by households, in a
given year
3. The Tan family’s disposable income for the month of December
is 510,500 and their consumption for the same month is pegged
at 59,500. The savings of the Tan family is _________.
a. 5800
c.
b. 52,000
d. 51,500
51,000*
4. The firms will continue to produce output at its current level if
_________.
a. the money received by the firms is equal to their payment
of services and resources
b. the savings leakages are replaced with expenditures for
investment
c.
all the produced goods are sold in the market
d. all are correct*
5. It is the common belief that businesses would invest larger sums
of money if _________.
a. the interest rate is doubled
aggregate supply = aggregate demand*
8. The public debt imposes a burden on future generations if ________.
a. it is largely owed to foreigners*
b. it is completely owed to citizens of the issuing country
c.
the government balances the budget over the business cycle
d. taxes do not have to be increased in the future to cover higher
interest without payments on debts
9. The condition in which the economy is operating at or near full
employment and production is near its maximum level of output
is called _________.
a. prosperity*
c.
inflation
b. depression
d. recession
10. Cost-push inflation occurs when _________.
a. consumers use their market power to push up prices
b. resource owners use their market power to push up prices*
c.
aggregate supply increases at a faster rate than aggregate
demand
d. aggregate demand increases at a faster rate than aggregate
supply
b. the rate of interest is lowered*
c.
D. Identify whether the following gain or lose during inflation.
the rate of interest is constant
d. there is no change in the rate of interest
6. To John Maynard Keynes, the principal determinant of consumption is _________.
a. national income
c.
salary or wage
b. disposable income*
d. personal taxes
1. fixed income earners – (lose)
2. debtors – (gain)
3. creditors – (lose)
4. government employees – (lose)
5. bank depositors – (lose)
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UNIT
IV
THE SECTORS OF THE ECONOMY
Number of days: 53
STAGE 1: DESIRED RESULTS/OUTCOME
Content Standard
Performance Standard
Show understanding and
appreciation of the roles played
by the different sectors of the
economy which contribute to the
economic and social upliftment of
every Filipino
Develop a case study on the conditions of a specific sector of the
economy, the challenges confronting
it and the solutions undertaken as its
main theme
Essential Understanding
Essential Question
The different sectors of the
economy play a vital role in ensuring that the country’s economic
stability and its own growth and
development will benefit the whole
country.
1. Why is it important to look after the
conditions of the different sectors of
the economy?
2. How do the different sectors of
the economy contribute to the
country’s economic development and
growth?
C. Application
Actively participate in school and community functions and
activities in promoting an orderly, appropriate, smooth, and wellmanaged operation of the various sectors of the economy so that
the goal of economic stability and growth for everyone will be
accomplished
D. Perspective
Justify that the economic stability of a country will be derived
only through concerted actions of putting in order and properly
managing the operations of the different sectors of the economy
E. Empathy
Put oneself in the shoes of each member of the different sectors and describe how each member contributes to the promotion
of economic stability of the country
F. Self-knowledge
Realize that for the economy to grow and become stable,
the government and its people must work together to pursue a
common goal and directions for the country
Evidence at the Level of Performance
☛ Authentic Assessment
STAGE 2: ASSESSMENT
Evidence at the Level of Understanding
A. Explanation
Discuss the important roles played by the different sectors
of the economy in ensuring that the country and its people will
enjoy economic stability
B. Interpretation
Analyze that a strong and an improved economy is the effect
of a stable, orderly, and well-managed operations of its different
economic sectors
Develop a case study on the conditions of a specific sectors of
the economy, describe its present condition and review its role in
promoting economic stability.
☛ Traditional Assessment
A. Encircle the letter of the correct answer.
1. Which of the following is considered part of the informal
economy?
a. retail store
c. cigarette vendor*
b. foreign trade
d. leading drugstore
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2. It is a science that deals directly with harnessing the country’s
raw materials derived from its vast natural resources.
a. farming
c.
b. livestock
d. investment
8. Which of the following does not fall under the components of
the underground economy?
agriculture*
3. It is acknowledged as having the biggest contribution in terms
of fish output in the Philippines based on 2007 statistics.
a. aquaculture*
c.
b. small scale fishing
d. municipal fisheries
10.
a. seaweeds*
unreported economy
b. illegal economy
d. registered businesses*
a. pollution
c.
global warming
b. deforestation
d. graft and corruption*
This government entity is tasked to take charge of the disposal
of government assets.
a. Department of Finance
b. cultured pearls
c.
c.
9. Which of the following does not directly pose a serious problem
to the agricultural sector?
commercial fishing
4. In 2003, the Philippines was listed as one of the biggest
producers of this aquatic product.
a. counter trade
b. Asset Privatization Trust*
shrimps and prawns
c.
d. crabs and other ornamental fishes
5. This agency is mandated by the government to provide sufficient and efficient facilities to ensure the easy transport and
distribution of fish harvest.
Bureau of Internal Revenue
d. Department of Interior and Local Government
11.
a. Department of Agriculture
The Department of Agriculture, through the CARP, launched
this program in 2002 to modernize the country’s agricultural
sector.
b. Bureau of Food Administration
a. Bayan-anihan CARP*
c.
b. Ginintuang Masaganang Ani Program
Philippine Fisheries Development Authority*
c.
d. Fisheries and Aquatic Resource Management Council
6. It was the country’s banner program for agricultural development under the Arroyo administration.
d. Agrikulturang Makamasa Rice Program
12.
a. Unlad Abaka MASA Program
What caused the slow implementation of the country’s CARP?
a. insufficient funding
b. Irrigation Development Program
c.
Coconut Farmers Food Access Program
b. peace and order problem
Ginintuang Masaganang Ani Program*
c.
d. Maunlad na Niyugan Tugon sa Kahirapan Program
7. The land reform program of the country was conceptualized
to place the ownership of land to the __________.
a. lessor
c.
foreigner
b. landlord
d. tenant or tiller*
opposition from landwoners
d. all of the above*
13.
Which does not fall under the service sector?
a. transportation
c.
telecommunications
b. housing
d. construction*
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14.
15.
16.
A component of the industrial sector that has been among
the top foreign exchange earners for the country.
a. mining*
c.
b. service
d. manufacturing
construction
In what form was the encomienda given as a reward for loyal
services rendered during times of war?
a. boletas
c.
land grant*
b. cedulas
d. special grant
Which of the following is not considered as the Filipino workers’ edge or advantage over other workers?
a. strong work ethics
b. bahala na attitude*
c.
being highly skilled
d. proficiency in the English language
17.
Which is not a good reason for forest conservation?
a. to prevent floods
b. to preserve the ecosystem
c.
to provide cover for illegal activities*
d. to provide sanctuaries for wildlife
18.
It is the government agency in charge of supervising the selling and buying of corporate stocks and securities issued in the
country.
a. Department of Finance
b. Bangko Sentral ng Pilipinas
c.
Department of Trade and Industry
d. Securities and Exchange Commission*
19.
It is the difference between a country’s exports and imports.
a. balance of trade*
b. balance of payments
c.
favorable balance of trade
d. unfavorable balance of payment
20.
Which of the following is not an example of a multinational
corporation?
a. Shell
c. Coca-Cola
b. Pfizer
d. Rural bank*
B. Modified True or False. Write T if the underlined word makes
the statement correct. If not, replace the underlined word to make
the statement correct.
__________ 1. Externalities are unintended consequences of
actions or policies which government seeks to
address and correct. (T)
__________ 2. The national budget contains the expenditures
for all public activities and the source of its
financing. (T)
__________ 3. When taxes and revenues exceed government
expenditures for a given year, a budget deficit
occurs. (budget surplus)
__________ 4. The cyclical budget is the difference between the
actual budget and the structural budget. (T)
__________ 5. Pump-priming is a policy of the government
to inject more funds into the economy. (T)
__________ 6. The law of absolute advantage states that
mutually beneficial exchanges are possible
whenever production costs differ prior to trade.
(comparative advantage)
__________ 7. Those goods and services whose use and benefits
are restricted to buyers only are public goods and
services. (private)
__________ 8. The tax levied on imported goods is called quota.
(tariff)
__________ 9. The summary statement of a nation’s transactions
with the rest of the world during a given period
of time is called the balance of trade. (balance of
payments)
__________ 10. Payment per time period for the use of capital
resources is called interest. (T)
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STAGE 3: INSTRUCTIONAL PLAN
3. Assign the students to conduct a panel discussion with the
theme, “The Past and Present Conditions of the Agricultural
Sector” as the focal point.
Chapter 10 The Agricultural Sector
Module 27 Agriculture and Development
a. Group B — The historical development of the country’s
land reform program, past and present
Module 28 Agrarian Reform Program
b
Group A — The status of the agricultural sector at present
c.
Group C — Strengths, weaknesses, opportunities and
thrusts of the agricultural sector/land reform program
✏ Activities and Strategies
A. Explore
Ask the students the following questions:
1. What agricultural ideas and concepts are contained in the
poem, “The Man With the Hoe” by Edwin Markham?
2. What products and type of activities are mostly found in the
agricultural sector?
3. Why is there a need to continually address the upliftment of
this sector?
4. How can the government uplift the living condition of those
involved in this sector?
B. Firm Up
1. Show pictures of varied products and activities found in the
agricultural sector. Let these pictures be the springboard for
the discussion of the topic.
2. With the use of the cluster map below, ask the class to identify
and describe each sub-sector.
Fish
Production
Agricultural
Crops
C. Deepen
1. Ask the students the following:
a. What significant role does the agricultural sector play in
the economy?
b. Why is it important to understand the contributions made
by this sector to the economy?
c.
How does the government alleviate the plight of those
involved in the sector?
d. Ask the students to read an article about the Forest
Management Bureau at i-learn.vibalpublishin.com.
2. Have the students answer the Review Questions on page 227
of the textbook.
D. Transfer
1. Have the students prepare a collage showing their vision for
Philippine agriculture five years from now. Discuss this in
class.
Agriculture
Forestry
4. Tell the students to read an article that discusses the
provisions of Republic Act 9700 or CARP Extension with
Reforms Law at i-learn.vibalpublishing.com.
Livestock
and Poultry
2. Ask the students to clip any news item about the land reform
program of the government and let them write their reaction
on the said article.
3. Have the students do Activities on page 227 of the textbook.
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E. Valuing
Ask: How would you feel if you watch TV or read in a newspaper that a flash flood happened because of forest denudation?
Explain your answer.
4.
d. Mitsubishi Motors
Corporation
✏ Materials
Textbook, pictures, collage, newspaper
Chapter 11 The Industrial, Service, and Informal Sectors
5.
Module 29 Industrialization and Economic Development
e.
Toyota Motor
Corporation
✏ Activities and Strategies
A. Explore
1. Have the students identify which company or corporation
has the following symbols or logos. Choose from column B the
answer.
B
A
1.
a. Manila Electric
Company
b. Petron Corporation
2.
3.
c.
Jollibee Foods
Corporation
2. Ask the students the following:
a. What idea or concept does the logo/symbol convey?
b. Based on these logos, what economic activities do they
perform within the industrial sector?
B. Firm Up
1. Guide the students in making a presentation of the topic
with the aid of a pie graph. Make use of the latest statistics
to reinforce the presentation. Include in the report the
following: sub-sectors in the industry, its contributions to the
economy, present condition and other issues related to it.
2. Students will portray assigned characters in the activity.
The activity will focus on the historical background of the
industry, contributions to the economy, present condition
and the problems it encounters.
Characters to play:
a. entrepreneur
b. DTI secretary
c. employed
d. DENR secretary
e. labor leader
f. mayor or governor
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3. Prepare a matrix or retrieval chart of the top 10 leading
companies in the industrial sector in the Philippines. Ask the
students to fill it out with the following information:
a. Name of industry
b. Owner
c. Income
d. Type of operation
e. Goods produced/services provided
f. Logo or symbol
4. Have the students answer Vocabulary on page 245 of the
textbook.
C. Deepen
1. Ask the students the following:
a. Why is the industrial sector considered a vital force in
fueling economic growth?
b. What challenges continually confront the industrial sector?
Why?
c. How should the government promote a vibrant and competitive industrial sector?
2. Have the students answer the Review Questions on page 245
of the textbook.
D. Transfer
1. The class may go on an educational tour of one of the top 10
leading companies in the industrial sector in the Philippines.
2. Have the students write a reaction paper about the tour.
E. Valuing
1. Let the students state their personal stand about this
statement: Industrial development vs. environment is a
dilemma the country’s leaders and economic planners
must face.
2. Have the students answer Valuing on page 245 of the textbook.
✏ Materials
Textbook, statistical data, retrieval chart, logos
Module 30 The Role of the Service Sector in the Economy
Module 31 The Informal Sector
✏ Activities and Strategies
A. Explore
Post on the bulletin board the classified ads section of different
newspapers. Then ask the following questions:
a. In what areas are vacancies common?
b. What are the qualifications needed for applicants?
B. Firm Up
1. Conduct a debate on the topic, “Will deregulation of the
telecommunications sector help the economy?”
2. Have the students share their views and exchange opinions
about the statement, “A progressive financial system is
important in achieving economic growth.”
3. Divide the students into groups. Let each group report about
the functions of the different institutions which help the
service sector. Use any graphic organizer in doing this. The
students may refer to Table 30.4 on pp. 254-255 of the textbook
for the list of the different government institutions.
4. Let the students conduct an interview of some people
participating in the informal sector and compare their reasons
for joining the informal sector.
5. Have the students answer Vocabulary on pp. 257 and 263 of
the textbook.
C. Deepen
1. Let the students answer the following:
a. Why is the service sector/informal sector an important
component of the country’s economy?
b. How does the government respond to the challenges faced
by the service sector and informal sector at present?
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2. Ask the students to read an article about a survey on the
informal sector in the Philippines. A link to this article can be
found at i-learn.vibalpublishing.com.
3. Have the students answer the Review Questions on pp. 257
and 263 of the textbook.
D. Transfer
1. Tell the students to go around their community and list down
the different activities under the informal sector that they see.
2. Have the students do Activities on pp. 257 and 263 of the
textbook.
E. Valuing
1. Let the students complete the following statement:
“If I were given the chance to improve an institution that
helps the service sector/informal sector, it would be ______
because _______.
2. Ask the students to write an essay on the topic, “What I can
contribute to improve the country’s service sector/informal
sector.”
3. Have the students answer Valuing on pp. 257 and 263 of the
textbook.
✏ Materials
Textboook, graphic organizer
Chapter 12
The Government and the Economy
2. After singing the song, let them describe the status of their
present living condition and that of their parents several years
back. Guide them in their discussion.
B. Firm Up
1. Divide the class into two groups. Assign each group one of
the following topics:
a. The resource allocation, regulatory, and redistributive
functions of the government in the economy
b. The distinct roles of the government in the economy and
its intervention during market failures
2. With the use of graphic organizers, identify and discuss
the spill-over costs and spill-over benefits of some economic
activities to the people.
3. Have the students share their views on the topic, “Is government intervention necessary to correct market failures?”
Conduct a panel discussion for this.
4. Present a video clip of the movie, The Pelican Brief or other
films with a similar theme. Conduct a socialized discussion
afterwards with the following topics:
a. Type of industry presented in the film
b. Its economic benefits to the government and to the
people
c.
Problems brought about by its operations
d. Solutions presented in the film
e.
Module 32 The Role of the Government in the Economy
Role of the government in maintaining harmony between
economic development and the preservation of both human
and natural resources
5. Have the students answer Vocabulary on page 270 of the
textbook.
✏ Activities and Strategies
A. Explore
1. Have one student lead the singing of the song “Masdan ang
Kapaligiran.” The first line starts with, “Wala ka bang napapansin sa iyong kapaligiran...”
C. Deepen
1. Ask the students the following:
a. Under what conditions can a government exercise its role
as “moral guardian” in the economy? Explain your answer.
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b. Why is it necessary for government to influence or
exercise control over a certain markets when it experiences
“market failures?”
2. Have the students answer the Review Questions on page 270
of the textbook.
D. Transfer
1. Gather news clippings that feature the distinct functions of the
government in the economy. Post these on the bulletin board
and encourage students to examine their content and write
an essay about such.
2. Let the students do Activities on page 271 of the textbook.
E. Valuing
Let the students share their view on this: When the quality
of life among people and their economic stability is in danger,
it is necessary for the government to intervene. As an individual,
how would you address such concern?
✏ Materials
Textbook, news clippings, graphic organizer, copy of the song
“Masdan Mo ang Kapaligiran”, DVD copy of Pelican Brief
Module 33 Government Budget
✏ Activities and Strategies
A. Explore
Miscellaneous 5%
Education 8%
Electricity/Water 12%
Food 50%
Housing 25%
Monthly Budget of Family A
Based on the pie graph, ask the students the following
questions:
1. How does Family A allocate its budget among its different
expenditures?
2. Which item on the pie graph has the biggest allocation?
Why?
3. Does the government exercise budget allocation too?
B. Firm Up
1. With the use of an “event chain,” describe the procedure in
preparing the national budget. This may be assigned to only
one group. The group will conduct an oral report after which
a socialized discussion follows.
2. Have the students conduct an interview of their local government heads. The students will ask them the following:
a. How do they allocate their budget?
b. What local agency/institution receives the biggest
appropriation and which one receives the smallest
appropriation?
c. Where do they derive their revenues and how do they
justify their budget?
The students will relate the result of their interview
with the present topic. They will discuss the similarities and
differences and how their local leaders solve the problem of
budget deficit.
C. Deepen
1. Ask the class the following:
a. Why is there a need to budget the country’s income among
its different expenditures?
b. What can the government do if the economy operates on
a budget deficit? budget surplus?
2. Show the latest government allocation of the national budget.
Ask the students to react on the budget based on the appropriation for each sector.
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D. Transfer
1. Let the students complete the following sentences:
a. If I were the DBM secretary, I would allocate the biggest
share of the budget to _____ because ______.
b. Given a huge amount of money, I would list down my
priorities as follows: 1. _____, 2. _____, 3. ______, 4. _____,
5. _____ because ______.
2. Have the students do Activities on page 279 of the textbook.
E. Valuing
1. Get the students’ reaction on this statement: “Keeping up with
the Joneses is a bad practice, therefore live within your means.”
2. Have the students answer Valuing on page 279 of the textbook.
✏ Materials
Textbook, pie graph, graphic organizer
Chapter 13
International Trade
Module 34 Why Nations Trade
✏ Activities and Strategies
A. Explore
1. With the use of an overhead projector, slides or a Powerpoint
presentation, show pictures of the country’s leading exports
and imports. Guide the discussion of the topic with the following questions:
a. Which products and services are found in the Philippines?
Why do we export them?
b. Which products and services are not found in the
Philippines? Why is it considered practical and economically efficient if we buy or purchase them rather than
produce them ourselves?
c. Examine our imports based on Table 34.4 on page 288 of
the textbook. How much are they priced relative to our
exports? What would be the scenario if a situation like this
often takes place? How will this affect the local market?
2. Based on the response of the students, formulate the conceptual framework of the topic for discussion.
3. Tell the students to read an article and play an interactive
game to know the reasons why countries engage in international trade. Go to i-learn.vibalpublishing.com.
4. Have the students answer Vocabulary on page 279 of the
textbook.
B. Firm Up
1. Have the students share their views and opinions on the topic,
“The Pros and Cons of International Trade.”
2. Conduct a talk show and discuss this topic: The Philippines
is relatively rich in both natural and human resources but is
still considered an economically poor country.
3. Build a scenario using this quotation: “What will the Philippines be like with a very positive BOP and without deficit?”
4. Divide the class into two groups. Conduct a debate on the
topic: Should the government protect the country’s economic
interest by imposing trade restrictions?
5. Essay Contest. Post the guidelines for this activity on the
bulletin board. Sample themes are the following:
a. Linkages Among Nations, A Call for Economic Survival
b. Global Economy in a Sinking World
c. Interdependency: A New Economic Order
6. Guide the students in making a case study of countries like
Taiwan, Japan, and South Korea which relied heavily on
foreign trade. Focus on the effects of such strategy on the
local industries.
C. Deepen
1. Let the students answer the following:
a. What underlying principles or laws regarding human
relations must be applied in the conduct of international
trade?
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b. In the long run, are the measures adopted by the
country to protect the economy from international pressure
justified? Explain your answer.
2. Have the students answer the Review Questions on page 291
of the textbook.
2. With the use of both Asian and world map, locate the
member-nations of international organizations such as
the APEC, AFTA, WTO, ASEAN, and GATT. Describe the
proximity of these nations to the Philippines.
B. Firm Up
D. Transfer
1. Ask the students to create posters with slogans depicting the
theme, “An Invitation to Foreigners to Come, Visit, and Invest
in the Country.”
2. Have the students do Activities on page 291 of the textbook.
E. Valuing
“No Man is an Island” is an adage that aptly describes how the
interdependency among nations paved the way for the creation of
regional and international trade alliances. Ask: How should the
government ensure that membership in such organizations will
advance the welfare of Filipinos? Submit an essay on it.
✏ Materials
Textbook, pictures, overhead projector, slides
Module 35 Exchange Rate and International Trade
Module 36 The Trend Towards Globalization
✏ Activities and Strategies
A. Explore
1. Assign the students to present at least 15 different types of
currencies from all over the world (play money may be used).
Identify where each came from and how it is known (e.g.
Thailand – baht; Vietnam – dong). Give its current exchange
rate against a currency of your choice (e.g. Philippine peso
versus US dollar). Be able to relate this to the topic to be
discussed.
1. Present a caricature of people gathered in different embassies
to search for greener pastures abroad. Pose this question:
“What drive Filipinos to look for work in foreign lands?”
2. Have the students present a skit illustrating how remittances from people working abroad help sustain the country’s
economic stability and how these remittances affect the
operation in the forex market.
3. Conduct a mock exploratory meeting of different heads of
state to discuss economic goals, strategies, mechanisms, and
measures for sustenance of economic stability and growth.
4. Call on students who are willing to acts as head of state. Each
of them will initiate, defend, or justify the economic programs
of their respective countries.
5. Have the students conduct a talk show and discuss this
topic: Are international trade alliances a bane or boon to the
economy?
6. Divide the class into groups. Ask each group to conduct a
documentary (if doable) or an investigatory report on any of
the following suggested themes:
a. With the era of globalization, where does the Philippines
go from here?
b. Future global economic challenges: Can Third World
Countries really cope?
c.
Setting the New Direction for the Philippine Economy:
Coping for Economic Survival
7. Have the students answer Vocabulary on pp. 295 and 303 of
the textbook.
43
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C. Deepen
1. Ask the following to the class:
a. Why is the country’s exchange rate system significant in
its trade relations with other countries?
b. Do the advantages of globalization outweigh its disadvantages? Explain your answer.
c. How can the government strike a balance between
economic security and stability while promoting environmental preservation?
2. Have the students answer the Review Questions on pp. 295
and 303 of the textbook.
D. Transfer
1. Let the students examine whether the following statements
can be categorized as bad news or good news. Have them justify
their stand.
a. BSP assures that the exchange rate will stay at the $1=
P44.00 level.
b. Filipinos abroad are coming home for holidays.
c. Authorities are watching black market operations.
d. Political bickering drives away foreign investors.
e. Investors look at Thailand as haven for investment.
2. Let the students fill in the chart with the correct data.
International Trade Organizations
Name of
Organization
AFTA
Goals/Objectives
Member
Nations as
of 2005
Projects/
Programs
Key
Growth
Areas
tourism
Growth
Rate
13.7 million tourist arrivals
(2003)
3. Have the students do Activities on page 295 of the textbook.
E. Valuing
Ask the students: If you were the president of the country,
would you encourage Filipino professionals to work abroad in order
to earn foreign currency, even if it will result in, among others,
brain drain? Justify your answer.
✏ Materials
Textbook, play money representing different currencies, Asian
and world map, caricature, retrieval chart
UNIT TEST
A. Write T if the statement is true. Otherwise, change the underlined
word/words to make the statement correct.
1. The Land Reform Code or Republic Act 3844 was enacted during
the term of President Diosdado Macapagal. (T)
2. Presidential Decree No. 27 placed the Philippine as a land reform
area during the term of President Ferdinand E. Marcos. (T)
3. The industrial sector transforms the agricultural or raw materials
into new products. (T)
4. In 2004, Central Visayas ranked first in the production of
non-metallic minerals. (T)
5. The mechanical and chemical transformation of inorganic substances into new products either by machines or by hand in
factories is attributed to the agricultural sector of the economy.
(manufacturing)
6. The selling of government-owned or controlled corporations to the
private sector is called deregulation. (privatization)
7. Multinational companies are enterprises which branch out to
many parts of the world to gain bigger markets for their
products. (T)
8. The application of science to practical human ends, increase productivity, and improve the way of life is called technology. (T)
9. The Trade Liberalization Act of 2000 encourages Filipinos and
foreigners to invest in the retail industry and provide consumers
with lower-priced but globally competitive products. (T)
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10. The National Housing Authority is the institution tasked to implement the comprehensive housing program of the government. (T)
B. Eumerate the following.
1. Reasons why the agricultural sector is important
a. source of livelihood
b. source of foreign earning
c. source of food and raw materials
d. as market for products of other industries
e. additional resources to other sectors of the economy
2. Give at least three agricultural program of the government
a. Ginintuang Masaganang Ani Program
b. Unlad Abaka Masa Program
c. Irrigation Development Program
3. Problems in the agricultural sector
a. deforestation
c. pollution
b. soil erosion
d. global warming
4. Components of the industrial sector
a. mining sector
c. construction
b. manufacturing sector
d. energy
5. Ways of disposing government assets
a. public bidding
b. negotiated sales
c. direct debt buy-outs
6. Agencies that promote the trade and industry sector
a. DTI
c. SEC
b. BOI
d. PEZA
7. Characteristics of the informal economy
a. low levels of productivity and employment
b. health and safety are always at risk
c. more labor-intensive
d. non-payment of taxes
e. workers are usually paid beloow the minimum wage
C. Match column A with column B. Write the letter only.
A
(k)
______
1. A budget with no
surplus nor deficit
B
a. informal sector
(e)
______
2. The unintended consequences of actions
b. Philippine Ports Authority
(j)
______
3. Occur when individuals involuntarily bear economic
costs without compensation
c.
(b)
______
4. Tasked to construct
and modernize ports
and water transport
in the country
(f)
______
5. The benefits of these
goods and services
are not limited only
to buyers
(i)
______
6. Refers to government’s injection of
funds to stimulate
economic activities
regulation
d. tariff
e.
externalities
f.
public goods
g.
Public Interest Theory
h. quota
i.
pump priming
j.
spill-over costs
k. balanced budget
(d)
______
7. Tax on imported
goods
(a)
______
8. A l s o k n o w n a s
“shadow economy”
(c)
______
9. Form of government
intervention when
the market fails
(h) 10. Quantitative restric______
tion on the number
of goods that may be
imported in a year
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APPENDIX
SCORING RUBRIC FOR CASE STUDY
Criteria
SCORING RUBRIC FOR GROUP REPORT
Indicator
Indicator
Content
•
Valid pieces of evidence to support
the study sources are cited
Presentation
•
Clear, accurate, and creative in
style
Score
1. Organization of topics for discussion
2. Logical presentation of data with the use of outline
Organization
•
3. Utilizes visual aids and thinking tools
Strong, interesting, and demonstrate a thorough understanding
of the topic
4. Topics are well-distributed among members; with group
moderator
5. Group moderator facilitates data and information
during the discussion
Range of Score Interpretation
4 = Outstanding
3 = Very Satisfactory
2 = Satisfactory
1 = Needs Improvement
Message
•
Conveys the theme of the particular study very effectively
Range of Score:
5 = Outstanding
4 = Very Satisfactory
3 = Satisfactory
2 = Needs Improvement
1 = Unsatisfactory
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Score
SCORING RUBRIC FOR ROLE PLAY
Criteria
Indicator
Script
•
Presentation
•
Characters
•
Theme
•
SCORING RUBRIC FOR ESSAY WRITING
Score
Well-written and with clear
organization of ideas
16-20
Shows creativity; draws interest
and impact from audience
15-11
Actors connect with the situation’s
main theme; are able to deliver
the message
6-10
Ideas are organized into one
common concept/theme
1-5
SCORING RUBRIC FOR ROUND TABLE DISCUSSION
Criteria
Presentation
Choice of words
Knowledge of topic
Preparedness of
participants
Indicator
•
•
•
•
Criteria
Coherence
1. Presentation of ideas is clear
2. Details are vivid and distinctively
unique
3. All other ideas lend support to the
main idea
Organization
1. Generally an organized set of
ideas
2. Data presented are taken from
various sources such as researcher
and real-life situations
3. Discussion of sub-ideas into one
main coherent idea is very clear
Mechanics
1. Logical presentation of sentences
2. Legible and clear use of words
or sentences
3. Grammatically correct, unique
writing style is evident
Score
Topics are organized
16-20
Word/s used are appropriate;
concepts are articulated through
the use of clear words and
language
15-11
Shows mastery of the topic or
subject matter
6-10
Shows rapport among participants
1-5
Indicator
Score
Scoring Legend
3 - all three indicators are observed
2 - only two indicators are observed
1 - only one indicator is observed
•
The total number of points represents the score in measuring
this performance-based activity.
47
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© Copyright 2010 by Vibal Publishing House, Inc. NOT FOR SALE.