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Republic of the Philippines, Department of Education, National Capital Region, , DIVISION OF CITY SCHOOLS – MANILA, Manila Education Center Arroceros Forest Park, Antonio J. Villegas St. Ermita, Manila, , Applied Economics, Contemporary Socio-Economic, Issues Facing the, , Filipino Entrepreneurs, , Source:https://www.carricka.land.com.au, , Quarter 1 Week 6 Module 6, Learning Competency,  Analyze the effects of contemporary socio-economic, issues affecting the Filipino Entrepreneurs.

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Learning Module for Applied Economics, , HOW TO USE THIS MODULE?, Before starting the module, I want you to set aside other task/s, that may disturb you while enjoying the lessons. Read the simple, instructions below to successfully enjoy the objectives of this kit. Have, fun!, , Follow carefully all the contents and instructions indicated, in every page of this module., Write on your notebook the concepts about the lessons., Writing enhances learning that is important to develop, and keep in mind., Perform all the provided activities in the module., Let your facilitator/guardian assess your answers using the, answer key card., Analyze conceptually the posttest and apply what you have, learned., Enjoy studying!, , PARTS OF THE MODULE, , , Expectations - These are what you will be able to know after completing, the lessons in the module., , , , Pre-test - This will measure your prior knowledge and the concepts to be, mastered throughout the lesson., Looking Back to your Lesson - This section will measure what learnings, and skills did you understand from the previous lesson., Brief Introduction- This section will give you an overview of the lesson., , , , , , , , Activities - This is a set of activities you will perform with a partner., Remember - This section summarizes the concepts and applications of, the lessons., Check your Understanding - It will verify how you learned from the, lesson., , , , Post-test - This will measure how much you have learned from the entire, module, , 2

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Learning Module for Applied Economics, LESSON, 6, , Contemporary Socio-Economic Issues, Facing the Filipino Entrepreneurs, EXPECTATIONS, , At the end of the sessionꓹ the learner should be able to:, 1. analyze the effects of socio-economic issues facing the Filipino Entrepreneurs;, 2. perform environmental analysis to help identify and solve economic problems; and, 3. develop skills in solving socio-economic issues that may harm the entrepreneurs and, the entire economy., , PRE-TEST, Have a good day! Before you equip yourselves with a new set of, knowledge, let us check your understanding about our next topic. Enjoy, answering!, Part I. Identification, Directions: Classify the following issues as to SOCIAL or ECONOMIC., Write S if the issue is related to social and E if related to economic. Write your, answer on the space provided before each number., _______1. Population size and growth rate, _______2. Exchange rate volatility, _______3. High Interest rates on loans, _______4. Inequality in wealth distribution, _______5. Unpredictable and extravagant lifestyles, _______6 .Health consciousness leading to unpredictable demands of products, _______7. Uncooperative attitude towards government’s policies, _______8. Negative attitude towards work, _______9. Price fluctuations, _______10. Government budget deficits, Great job! You have answered the first part of our activity., You may now proceed to the second part., , 3

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Learning Module for Applied Economics, , Part II. Contemporary Issues Facing Filipino Entrepreneurs, Case Problem: For several months now, everyone has been regulated by the, Bayanihan Act as an effective measure to fight the issues caused by COVID 19., There are protocols that everyone needs to comply while the community is in the, ECQ or GCQ or MCQ situation. In Manila, various economic issues and, problems contain everyone to live in a normal way., Directions: Please accomplish the chart. This will help you easily understand, our next topic. Below are some of the perceived issues and problems by the, Filipino Entrepreneursꓹ nowadays. Classify them according to PEST., , POLITICAL, , ECONOMIC, , SOCIAL, , TECHNOLOGY, , 1. irregularities on the implementation of the Bayanihan Act protocols 2., alleged corruption by barangay officials 3. restricted foreign trade policy 4., strict labor laws 5. tight environmental and resources laws 6. education, system, 7. poor infrastructure projects 8. inefficient health regulations 9., death rate 10. issues on amelioration distribution 11. inadequate, information for safety measures 12. lifestyle barriers 13. limited local, workforce 14. slow research and development activity of reporting COVID, patients 15. limited technological facilities 16. high interest rate 17. poverty, rate 18. unavailable credit opportunities 19. unemployment trend 20. price, fluctuations (source: GMA 7, You have answered the second part of our activity. That’s great! You may now look back, at our last lessons so you can answer effortlessly our next activity., , 4

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Learning Module for Applied Economics, , LOOKING BACK TO YOUR LESSON, Last topicꓹ we discussed different market structures that characterize an, economy. Understanding these structures will help the entrepreneurs stay stable and, competitive. These include perfect competition, monopolistic competition, oligopoly,, and monopoly. Each structure has its own set of characteristics, which in turn affects, the decision making of firms and the profits they can make. In perfect competition, it is, assumed that: (1) all firms maximize profits (2) there is free entry and exit to the, market, (3) all firms sell completely identical (i.e., homogenous) goods, (4) there are no, consumer preferences. In monopolistic competition, it is assumed that: (1) all firms, maximize profits (2) there is free entry, and exit to the market (3) firms sell, differentiated products (4) consumers prefer one product over the other. The oligopoly, structure of the market assumes that: (1) firms maximize profits, (2) oligopolies can set, prices, (3) there are barriers to entry and exit in the market, (4) products may be, homogenous or differentiated, and (5) only a few large firms that dominate the market,, and finally, the following assumptions are made for monopolies: (1) the monopolist, maximizes profit, (2) monopolies can set the price, (3) high barriers to entry and exit, (4), only one firm that dominates the entire market., The market structures can make strategic management decisions in order to, address economic issues., Let us check your retention on the knowledge you gained from last topic. Enjoy, answering the activities!, , Part I. Matching Type, Directions: Match Set A (Market Structures) to Set B (Market Characteristics)., Choose your answer for each item from the table below. Write the letter on the, space provided for each number., SET A (Market, Structures), 1.Perfect Competition, A., 2. Monopolistic, Competition, 3. Oligopoly, 4. Monopoly, , SET B (Market Characteristics), A. all firms in the industry sell or offer identical, goods or services, B. firms sell differentiated products, C. only a few large firms can dominate the market, D. only one firm can dominate the entire market, , Great job! You finished answering the questions! If you do not have, any questions, you may now proceed to the next activity., Enjoy answering., 5

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Learning Module for Applied Economics, , Part II. Identification: Market Structures, Directions. Read the questions carefully. Identify the type of market structure, for each item., 1), If Company XYZ competes with many firms in the industry but with, homogeneous product on their stores, what market structure does it enter?, _________________________________, 2), If Company XYZ competes with few large firms in the industry but with, differentiated products on their stores, what market structure does it enter?, _________________________________, 3), If there are several barriers on the entry and exit of firms in the industry, due to huge amount of capital needed, what market structure are they in?, ________________________________, 4), If Company ABC is the only provider of water supply in the locality, what, market structure does it join? ________________________________, 5), ABM Supermarket has joined many and small marketers in the industry, with several competitors selling the same products. What market structure did, it join? ____________________________________, Great! You finished answering the questions. You may request your facilitator to check, your work. Congratulations and keep on learning!, , BRIEF INTRODUCTION, COVID 19 has been affecting the business world since its occurrence., There has been economic contraction, corporate revenue losses, liquidity, stresses, jobless people and many more. The pandemic is just one of the many, issues and problems that the economies around the world are suffering, nowadays., The business world is very complex and its complexity creates several, issues and problems that can disturb the growth of the economy. Understanding, the contemporary socio-economic factors and their effects will help, entrepreneurs to recover from economic distresses and regain their positions in, the market., , 6

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Learning Module for Applied Economics, , Before we explore further our new lesson, let us read the article below. This, is a “think, learn and challenge” opportunity for you to connect more to the, ideas on the socio-economic impact of the COVID 19 pandemic that attacks the, whole world. Enjoy reading!, Socio Economic Impact of COVID 19, The UN’s Framework for the Immediate, Socio-Economic Response to the COVID 19, Crisis warns that “The COVID 19 pandemic is, far more than a health crisis: it is affecting, societies and econ-omies at their core., While the impact of the pandemic will, vary from country to country, it will most likely, increase poverty and inequalities., Without, urgent, socio-eco-nomic, responses, global suffering will escalate,, jeopardizing lives and livelihoods for years to, come. Immediate development responses in this, crisis must be undertaken with an eye to the future. Development trajectories in the, long-term will be affected by the choices coun-tries make now and the support they, receive.”, The United Nations has mobilized the full capacity of the UN system through its 131, country teams serving 162 countries and territories, to support national authorities in, developing public health preparedness and response plans to the COVID 19 crisis., Over the next 12 to 18 months, the socio-economic response will be one of three, critical components of the UN’s COVID 19 response, alongside the health response, led, by WHO, and the Global Humanitarian Response Plan. (UNDP 2020), Massive production disruptions that started in China have led to a lower supply, of goods and services that reduces overall hours worked, leading to lower incomes., Photo Credits: UNDP China, Source: https://www.undp.org/content/undp/en/home/coronavirus/socio-economic-impact-of-covid-19.html, , The entrepreneurs can make strategic management decisions in order to, address socio-economic issues., A strategic management tool to address, economic issues is the PEST analysis. It is a process of evaluating the external, socio-economic issues in a business. It looks at four relevant factors that affect, a business environment: Political, Economic, Social and Technological (PEST), factors. These factors may significantly affect a business., , 7

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Learning Module for Applied Economics, , Let Us Challenge Yourself: “Think, Learn and Challenge Opportunity”, Case Problem: According to UNDP (2020), assessing the effects of the COVID 19, crisis on societies, economies and vulnerable groups is fundamental to inform, and tailor the responses of governments and partners to recover from the crisis, and ensure that no one is left behind on this effort., Directions: Complete the chart. Determine the social and economic impacts or, effects of the COVID 19 crisis to the industries in your locality., , 1, 2, 3, 4, 5, , SOCIO-ECONOMIC EFFECTS OF COVID 19, Social Effects, Economic Effects, 1, 2, 3, 4, 5, Socio-Economic Factors and Their Effects To Entrepreneurs, , Most entrepreneurs consider the socio-economic factors in making, necessary financial decisions. Such factors are population size and, growth rate, wealth distribution, social classes, income distribution among, families, lifestyles and buying behaviour, health consciousness, spending habits, on goods and services and many more. These affect businesses on micro and, macro levels of the economy. The stockholders of a business are interested in, analyzing these socio-economic factors as these can significantly affect the, business environments. The firms, therefore, use a tool to analyze the, environments called the “environmental analysis”, Socio-Economic Factors, There are social factors that may affect the entrepreneurs which include:, a) population size and growth rate b) wealth distribution c) social classes d), income distribution among families e) lifestyles and buying behaviour of the, people f) health consciousness issues g) average disposable income h) attitude, towards the government, work buying habits, ethical concerns, cultural norms, and values, religion and beliefs i) education level j) attitudes towards saving,, investing, retirement, product quality and customer service., , 8

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Learning Module for Applied Economics, , Economic Factors, There are also economic factors that may affect the Filipino Entrepreneurs., These include: a) economic growth rate b) interest rate c) inflation rate c), exchange rate d) availability of credit e) spending behaviour f) government, budget deficits g) gross domestic product trends h) unemployment trend i) stock, market trends j) price fluctuations. Let us discuss some of the contemporary, socio-economic issues and their effects to entrepreneurs., Interest Rates, , Exchange, Rates, , Banking, institutions are, interested of, knowing the, status for interest, rates in the, economy to, determine their, lending practices; a good information for a, company that relies on debt capital to finance, projects., , When exchange, rates fluctuate,, they affect the, ability of a, company to pay, its suppliers. This, can also affect their profit margin and, the amount of resources they need to, remain financially stable., Economic Sluggishness/Depression, , Recession, Whenever an economy faces a recession, it has, the potential to change the attitude taken by, consumers toward their purchasing decisions., This may force companies to drop prices to stay, afloat., , Economic, depression is a, severe and long, term contraction, in economic, activity. It may, rise in, unemployment, rates and closure of many businesses. Poor, health services will expose the employees, on health risk; and the slowdown in growth, rates of GNP and income throughout the, world can cause the demand and supply, not to grow at similar rates., , Economic Rent, , Minimum Wage, , Increase in wage can, increase in consumer, spending capabilities, and the low-income, workers have a higher, spending capability., An increase in, minimum wages could lead to a higher, growth and contribute towards inflation, (higher costs for firms and higher spending, by the workers)., , Can cause to market imperfections and, lead to the rise of economic rents; it would, not exist if, markets were, perfect since, competitive, pressures would, drive down, prices., , http://immages.app.goo.gl/wKV6ff74v4cy, www.businessleadermagazine com, , Sources: https://int.search.tb.ask.com/search/AJimage.jhtml, https://int.search.tb.ask.com/search/AJimage.jhtml, https://int.search.myway.com/search/AJimage.jhtml, , 9

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Learning Module for Applied Economics, , MACRO AND MICRO ECONOMIC ISSUES IN THE ECONOMY, Economics deals with the utility maximization allowing individuals to improve, their economic welfare. However, there are certain issues that may hinder this, objective. We classify these issues according to macro and micro levels., The chart represents the micro and macro-economic economic issues that, affect the entrepreneurs and the entire economy., , https://www.economicshelp.org/blog/15276/economics/examples-of-economic-problems, , ECONOMIC ISSUES: MICRO LEVEL, There are economic issues on the micro level that can harm the, entrepreneurs. Some of these issues are the following:, 1., , Externalities., , The economic decisions can have external effects on other people,  If utility maximizes, it’s a waste of resources for entrepreneurs,  Externalities require government intervention. For example, taxes on, negative externalities (e.g. tobacco tax),  Solution to market failure (e.g. taxes), creates its own potential problems,, such as how much to tax? Will there be tax evasion?, 2. Environmental Issues, Over-consumption could cause serious problems for future generations,  Example, global warming, loss of non-renewable resources.,  The price mechanism doesn’t take into account these future costs,  Policies to reduce consumption may prove politically unpopular, 3. Volatile Prices,  A surplus in supply can fall in price which can cause lower revenue,  Volatile markets can cause swings in economic fortunes., 4. Inequality of Income Distribution,  There is an unfair distribution of resources.,  There is a diminishing marginal utility of wealth.,  If all wealth is owned by a small percentage of the population, this reduces, general welfare., 10

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Learning Module for Applied Economics, , ECONOMIC ISSUES: MACRO LEVEL, There are also economic issues on the macro level that can harm the, entrepreneurs. Some of these issues are the following:, 1. High Unemployment Rate, A swing in the business cycle causes high unemployment rate.,  A fall in demand for goods during a recession causes the laborers to, be removed from work.,  There is an imbalance between demand and supply of workers.,  A rapid change in labor markets, for examples, unskilled workers, unable to gain employment in a high tech economy.,  Unemployment is a waste of resources which leads to a very high, personal cost, such as low income and feelings of failure., 2 Recession, A recession is a period of negative economic growth and a decline in the, growth rate of the economy.,  It worsens problems of inequality and unemployment.,  It can create a negative spiral to business,  When demand falls, firms lay off workers,  May cause shutdown of companies,  The unemployed have less money to spend for goods (demand), 3. Inflation, High inflation can be a serious problem if prices rise faster than wages, and nominal interest rates.,  A rise in price may decline the wealth of the people,  If prices rise faster than wages, spending power will decline.,  A rapidly rising prices creates confusion and uncertainty on spending, and demand of goods.,  A decrease in quantity demanded due to rapidly rising prices can, cause firms to cut back on investment and spending, 4. Exchange Rate Volatility,  Exports fall and they can develop a large current account deficit.,  The overvalued exchange rate can cause a fall in economic growth., 5. Poverty Cycle,  The developing economies may be stuck in a poverty trap.,  Low growth and low saving ratios lead to low levels of investment and low, economic growth.,  Low growth and poverty cause low savings and investment to continue, 11

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Learning Module for Applied Economics, , ACTIVITIES, , Are you enjoying our lessons? Let us try to answer the other activities so, you can be more confident of your earned knowledge. Let us check your ideas, on the topics that we just discussed., Activity No. 1 CAUSE/EFFECT DIAGRAM ON SOCIO ECONOMIC ISSUES, , Directions:, , Below is a graphic organizer illustrating the socio-economic, issues that challenge the Filipino Entrepreneurs in your locality. State the, causes and effects of the macro and micro socio-economic problems that can, harm the local economy., , Cause/Effect, Cause/Effect, , SLow, adoptation of, Modern, Technology, , Cause/Effect, , Price, Fluctuations, , Cause/Effect, SocioEconomic, Factors, Affecting, Entrepreneurs, , Economic, Depression/, , Increasing, Unemployment, Rate, , Health, Disparity, , Cause/Effect, , Recession, , If you encounter any difficulty in answering the activity, do not hesitate to, consult your teacher or facilitator. She/he is always willing to assist you . Always, bear in mind that you are not alone in doing the tasks., , 12

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Learning Module for Applied Economics, Activity No 2. PROBLEM SOLVING (ACTION PLANS OR PROGRAMS), , Directions: As a citizen of your community, what can you do to solve or, improve the following economic problems? Rubrics: Focused on the problem or, Effectiveness 50%ꓹ Efficiency 30% and Useful ideas 20%, 1. What can be done to solve unemployment problem?, Recommendations, , 2. What can be done to improve poor quality of infrastructure?, Recommendations, , 3 What can be done to minimize inequality in income distribution?, Recommendations, , Activity No 3. ECONOMICS VOCABULARY, Directions: Describe the following socio-economic issues that may harm the Filipino, Entrepreneurs. You can be aided by your media and information literacies., SOCIO-ECONOMIC ISSUES, , DESCRIPTIONS, , 1 Tax evasion, 2 Economic stagnation, 3 Inequality in wealth distribution, 4 Health disparity, 5 Infectious disease, , 13

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Learning Module for Applied Economics, , REMEMBER, , Socio-economic issues are factors that have negative effects on, economic activity. There are socio-economic factors that can affect the, Filipino entrepreneurs, consumers, suppliers, investors and private and, public sectors. These include:, Social Factors, The social factors include population size and growth rate, wealth, distribution, social class per capita income, lifestyles and health, consciousness, attitude towards government, attitude towards work, buying, habits, ethical concerns, cultural norms and values, religion and beliefs,, education or leaning or training levels, customer’s attitudes towards, saving, investing, retirement, product quality and customer service., Economic Factors, The economic factors include economic growth rate, interest rate,, inflation rate, and foreign exchange rate, availability of credit, spending, behaviour, government budget deficits, gross domestic product trends,, unemployment trend, stock market trends and price fluctuations., We also classify these issues according to macro and micro levels. The, following represent the micro and macro-economic issues that affect the, entrepreneurs and the entire economy., ECONOMIC ISSUES: MICRO, LEVEL, , ECONOMIC ISSUES: MACRO, LEVEL, , The micro level economic, issues include, • Externalities, • Environmental issues, • Volatile prices, • Inequality of Income, Distribution, , The macro level economic issues, include:, , You’ve learned a lot from this module. Now, let us check your knowledge by answering, the activities below. Good luck!, , •, , High Unemployment, Rate, , •, •, •, , Recession, Inflation, , •, , 14, , Exchange Rate, Volatility, Poverty cycle

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Learning Module for Applied Economics, , CHECK YOUR UNDERSTANDING, Let us check your understanding on the topic. Have fun answering!, , Part I. IDENTIFICATION, Directions: Determine whether micro or macro-economic issue. Write MIC, if micro issue and MAC if macro issue., ___________1. Pollution due several public and private transportation, ___________2. Increasing unemployment rate, ___________3. Inadequate sources of water, ___________4 Economic depression, ___________5. Inequality of income distribution, ___________6. Poor quality of standard of living, ___________7. Monopoly of electric power source, ___________8. Import export barriers, ___________9. Unstable prices of products, ___________10.Poverty cycle among families, , Part II. WORD SEARCH PUZZLE, Directions: Locate from the chart some of the socio-economic issues that can, affect the Filipino Entrepreneurs and that can harm the economy., S, T, A, G, N, A, T, I, O, N, E, , A, R, A, E, T, S, Y, S, O, A, R, , C, P, L, T, S, K, U, I, K, B, T, , A, O, P, E, A, K, S, D, B, A, Y, , C, O, C, E, D, S, O, F, P, L, A, , D, E, P, R, E, S, S, I, O, N, T, , R, C, E, C, X, C, P, G, V, S, A, , S, , A, , C, , A, , C, , D, , R, , E, , X, , T, , E, , R, , N, , U, , S, , A, , C, , A, , C, , D, , R, , I, A, E, F, T, S, U, H, E, N, P, Q, N, R, , S, R, R, L, E, C, Y, J, R, M, A, O, T, R, , K S, S, I, S E, C T, R N, S D, O U, K V, T Y, A T, I, E, E R, W Y, S D, 15, , A, , C, , A, , R, X, U, A, F, L, B, A, Y, X, T, O, E, , A W, T E, A T, L I, G A, G F, L Q, Q W, O U, T E, Y A, U L, F I, , C, , D, , R, , S, , O, R, I, T, N, A, P, E, L, R, Q, G, C, , L, N, O, I, T, R, X, R, G, N, W, F, I, , B, U, N, E, M, P, L, O, Y, M, E, N, T, , P, I, N, S, T, A, B, I, L, I, T, Y, S, , D, E, P, R, E, S, H, U, T, N, S, A, D, G, , F, L, U, C, T, U, A, T, I, O, N, S, F, H

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Learning Module for Applied Economics, , POST-TEST, MULTIPLE CHOICE, Directions: Read the questions carefully. Encircle the correct answer., 1. If there is cyclical unemployment in the economy the government might:, a. increase interest rates, c. cut income tax, b. encourage savings, d. reduce government spending, 2. To reduce cyclical unemployment the government might:, a. increase the budget surplus, c. impose low interest rates, b. increase balance of payment, d. encourage savings, 3. The natural rate of unemployment is likely to fall if:, a. unemployment benefits increase, b. income tax increases, c. more training for the unemployed, d. geographical immobility increases, 4. What is the 'nature-focused' account of hunger?, a. no enough food to go around, b. hunger is a distribution problem, c. hunger is a part of human nature, d. none from ABC, 5. According to critical alternative views, poverty is a, a. monetary condition brought about by people's own laziness., b. monetary condition where people do not have enough to satisfy needs., c. monetary and non-monetary condition and people lack access to regulated, resources, opportunities and income., d. all of the options given are correct., 6. To boost economic growth the government is most likely to:, a. increase interest rates, c. provide incentives to invest, b. increase taxation rates, d. provide incentives to save, 7. Potential growth measures the:, a. growth of the fastest economy in the world, b. fastest growth an economy has ever achieved, c. present rate of growth of an economy, d. growth rate that could be achieved if resources were fully employed, 8. In a potential economic growth rate:, a. unemployment is likely to fall, c. demand is likely to fall, b. prices are likely to fall, d. imports are likely to fall, 9. In consumer behavior the culture, social class, and reference group influences, have been related to purchase and, a. economic situations, c. consumption decisions, b. situational influences, d. physiological influences, 10. Changes in consumer values have been recognized by entrepreneurs expanding, a. latest technology, a. health related, b. timesaving and convenienceb. communication, oriented, , 16

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REFLECTIVE LEARNING SHEET, , The influence of socio-economic status, particularly on healthꓹ is, assumed to begin in the family environments and continue through life. It, affects childhood conditions such as exposure to infectious agents or, viruses. Therefore, we are responsible for taking care of our “health” for it is, our ultimate “wealth”. Everything turns to be insignificant if we surrender, taking care of our health. Write something about it., _________________________________________________________________________________, _________________________________________________________________________________, _________________________________________________________________________________, _________________________________________________________________________________, _________________________________________________________________________________, _________________________________________________________________________________, , _________________________________________________________________________________, _________________________________________________________________________________, _________________________________________________________________________________, ___________________________________________________________________, , E-SITES, To further explore the concept learned todayꓹ and if it possible to connect the internet, you, may visit the following links:, United Nations website for the International Day for Eradication of Poverty provides, background information as well as valuable links http://www.un.org/en/events/povertyday/links.shtml, Poverty & Human Rights UNESCO’s Anti-Poverty projects http://en.unesco.org/themes/learning-live-together, , 17

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Learning Module for Applied Economics, , ANSWER KEY, , PRE-TEST, Part I. Identification, 1., 2., 3., 4., , S, E, E, S, , 5., 6., 7., 8., , S, S, S, S, , 9. E, 10.E, , Part II. PEST Analysis, POLITICAL, , ECONOMIC, , irregularities on the implementation of the, Bayanihan Act and alleged corruption by barangay, officials, , restricted foreign trade policy, unavailable credit, opportunities, strict labour lawsꓹ price fluctuations, tight resource & environmental law, limited local, workforce, high interest rate and unemployment, trend, , SOCIAL, , TECHNOLOGY, , education system, Inefficient health regulations,, high death rate, income/amelioration distribution,, inadequate information for safety measures,, poverty rate and lifestyle barriers, , poor infrastructure, slow research and development, (R&D) activity of reporting COVID patients and, limited technological facilities, , LOOKING BACK TO YOUR LESSON, Part I. Matching Type, 1. Perfect Competition, 2. Oligopoly, Part II. Market Structure, 1. Perfect Competition, 2. Oligopoly, , 3, 4, , 3., 4., , Oligopoly, Monopoly, , Monopoly, Perfect Competition, , 5. Perfect Competition, , ACTIVITIES, Activity I. Causes and Effects (the students may give their answers based on, observations from their localities), Activity II. Problem solving, (The students may recommend action plans or programs) Rubrics: Focused on the, problem or Effectiveness 50% ꓹ Efficiency 30%ꓹ Useful ideas 20%, 1. issue on unemployment, 2. issue on poor quality of infrastructures, 3. issue on inequality on income distribution, 19

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Learning Module for Applied Economics, Activity3. Economics Vocabulary, SOCIO-ECONOMIC, ISSUES, 1. Tax evasion, 2. Economic, stagnation, 3. Economic, inequality, 4. Health disparity, 5. Infectious disease, , DESCRIPTIONS, Illegal or underpayment of taxes to the government, Slow economic growth or economic depression, Unequal distribution of income and opportunity between or different, groups in a society (https://wol.iza.com), Inequalities in the provision of health care and health care access, across different racial ethnic and socio economic groups, (Mandalꓹ A. 2020), Disorders caused by viruses bacteria or fungi (https//www.science, direct.com), , CHECK YOUR UNDERSTANDING, Part I., 1., 2., 3., 4., , MIC or MAC, MIC, MAC, MIC, MAC, , 5., 6., 7., 8., , MIC, MAC, MIC, MAC, , 9. MIC, 10. MAC, , Par II. Word Search Puzzle (In no particular order), 1., 2., 3., 4., POST, 1., 2., 3., 4., , Depression, Externalities, Stagnation, Poverty, TEST, C, C, C, A, , 5., 6., 7., 8., , 5., 6., 7., 8., , Inflation, Fluctuation, Instability, Deficit, , C, C, D, A, , 9. Recession, 10. Unemployment, , 9. C, 10. B, , 20