ASSIGNMENT NO. 2 IN ECONOMICS WITH LRT
1. Write a SONA REACTION PAPER on the Fifth State of the Nation Address of President Benigno S. Aquino III. Follow the following guide and format.
Your reaction paper should consist of three parts: Synopsis, Analysis, and Reaction.
SYNOPSIS: This part of the essay includes a brief summary about the State of the Nation Address 2014. Details should include date and time SONA started, venue, number of attendees, etc.
ANALYSIS: In your analysis, focus on ECONOMIC CONCEPTS mentioned by the President such as labor and employment, investments, government savings and expenditures, etc.
REACTION: This part has something to do with your PERSONAL thoughts, feelings, and sentiments about the SONA. You may agree or disagree with points raised by the President.
2. When does market equilibrium happen and what does (P45, 150 kilos of rice as market equilibrium) mean?
3. What is the importance of studying elasticity of demand and supply for BOTH the consumers (households) and the suppliers (businessmen)?
4. Cite at least ONE PRODUCT OR SERVICE in our country where there is only ONE PLAYER or TWO or THREE COMPANIES that compete in that particular product or service. What do you observe in the price of the product and its quantity demanded and quantity supplied over time? Explain comprehensively.
5. Scenario: You are the President of the Philippines. What is the most pressing, most urgent, and most important reform will you implement in the country given the available resources and political culture we have? Explain.
Your reaction paper should consist of three parts: Synopsis, Analysis, and Reaction.
SYNOPSIS: This part of the essay includes a brief summary about the State of the Nation Address 2014. Details should include date and time SONA started, venue, number of attendees, etc.
ANALYSIS: In your analysis, focus on ECONOMIC CONCEPTS mentioned by the President such as labor and employment, investments, government savings and expenditures, etc.
REACTION: This part has something to do with your PERSONAL thoughts, feelings, and sentiments about the SONA. You may agree or disagree with points raised by the President.
2. When does market equilibrium happen and what does (P45, 150 kilos of rice as market equilibrium) mean?
3. What is the importance of studying elasticity of demand and supply for BOTH the consumers (households) and the suppliers (businessmen)?
4. Cite at least ONE PRODUCT OR SERVICE in our country where there is only ONE PLAYER or TWO or THREE COMPANIES that compete in that particular product or service. What do you observe in the price of the product and its quantity demanded and quantity supplied over time? Explain comprehensively.
5. Scenario: You are the President of the Philippines. What is the most pressing, most urgent, and most important reform will you implement in the country given the available resources and political culture we have? Explain.
