The document describes 4 situations that occur simultaneously after taking a bath: 1) washed clothes get wet in the rain, 2) cooked rice is burning, 3) phone is ringing, and 4) younger brother is crying. It asks you to prioritize which situation to address first, number them 1-4, and explain the basis for your choices. It also asks if you've experienced a similar situation and how you would make decisions with multiple competing situations.

3. You have just finished
taking a bath when
these situations happen
at the same time.What
particular situation will
you address first?
Number the situation 1-
4 based on your
prioritization.

4. A sudden rain falls wetting your almost dried
washed clothes outside

5. You smell your cooked-rice burnt in fire

6. You hear your phone ringing.

7. Your younger brother is crying in his crib who is
under your care while your parents are away.

8. Which is which?

12. Is it possible for you to do all the
task at the same time?
What is your basis in choosing
what to do first before the other?

13. Have you been in a situation similar to the
one presented? What particular situation?
How will you come up with a decision if
you are in the middle of several situations
that you need to make or have a choice?
Explain.

14. Activity 2 “5 Pics One Word”
In this activity, there are 5 pictures, all of which shared
a word in common. Your goal is to figure out the
common word based on word length provided to you.

17. “Concepts and Principles
of Economics”

19. Economics
- a science concerned with the process or system by
which goods and services are produced, sold, bought.
A social science concerned chiefly with description and
analysis of the production, distribution and consumption of
goods and services.
It comes from the Greek word oikonomiya that came from
the words: oikos meaning household and nomos meaning
to govern/manage.

20. Scarcity
- a very small supply. The state of
being scarce
- a falling short of an essential or
desirable amount or number.
Scarcity defined…

21. - is the basic economic problem that exists because we as humans
have unlimited wants that cannot be met by the limited amount
of resources our world has. Any good or service that has a non-
zero price is considered scarce. It will cost you something to
consume that good or service. Without scarcity, there would be
no reason to study economics. People would consume everything
they could possibly consume and not have to make choices or
trade- offs between goods and services.
Scarcity defined…

22. IMPORTANT CONCEPTS
AND PRINCIPLES OF
ECONOMICS

23. Trade-off – Is the choice or sacrificing a thing
in exchange of the other. Trade-off is very
important because through this we can
weigh the choices to be made to come up
with the best decision. Example: Will you
study your lesson or rather play?

24. Opportunity cost – the
benefit you miss when you
make a choice.

25. Incentives –

26. Marginal thinking – there was a saying
in economics “Rational people think at
the margin” meaning an individual
examines the additional outcome it
may be an expense or a benefit from
the decision being made.

29. SCARCITY
what to
produce?
how to
produce?
for whom
to produce?
how much
to produce?

31. RATIONAL
DECISION
opportunity
cost
trade-off
marginal
thinking
incentives

32. Activity 3 “Mind Mapping”
Direction: Arrange the jumbled figures of
the mind map. Write the given concept
inside the text box. Use the arrows and
lines as connectors and guides.

33. MIND MAP
Concept
Peoples unlimited
needs and wants
Economics Scarcity/shortage
of resources
Jumbled figures

34. MIND MAP INTHE STUDY OF ECONOMICS
?
? ?

35. MIND MAP INTHE STUDY OF ECONOMICS
ECONOMICS
? ?

36. MIND MAP INTHE STUDY OF ECONOMICS
ECONOMICS
Peoples unlimited
needs and wants
Scarcity/shortage
of resources

37. Activity 4 “Complete Me”
Direction: Based on the individual roles, list down
the importance of economics to their daily lives
IMPORTANCE
OF ECONOMICS
As a student As a member of
the family
As a member of
the society

38. Activity 5 “Essay Writing”
Direction: Reflect on the concept and
principles of economics. Write an essay
about its importance and benefits.

39. Rubrics for Essay Writing
Components 5 4 3 2 1
Ideas The paragraph is
fully focused and
contains a wealth of
ideas
The paragraph is
consistently
focused and
contains ample
ideas and
explanations
The paragraph is
sufficiently focused
and contains some
explanations
The paragraph is
minimally focused.
The provided
explanation is
vague or general
The paragraph
shows little or no
focus and the
explanation is
unclear, irrelevant
or repetitive
Content The student
displays substantial
content which is
evident and reflects
an advance critical
thinking skills.
The language and
tone of the
paragraph shows a
good content which
is evident as a sign
of learning.
The language and
tone are not that
substantial, ideas
are not adequate
but may be simple
or ordinary. Some
sentences variety is
evident
The language and
tone are uneven.
Word choice is
simple, ordinary or
repetitive.There is
minimal variation in
sentence length
and structure
The language and
tone are
inappropriate.Word
choice is incorrect
or confusing.The
response is
incomplete or too
brief.
Reflective meaning The student
demonstrates full
understanding of
each topics and can
easily project
critical thinking
towards application
The student
demonstrates
knowledge of the
topics. Errors are
minor and do not
interfere with
meaning
The student
demonstrates
sufficient
knowledge of the
topics. Errors may
interfere in the
meaning but are
not out of topic.
The student
demonstrates
minimal
understanding or
show less interest.
Errors are frequent
and interfere with
meaning.
The students lack
understanding of
the subject. Errors
are pervasive.The
response is
incomplete or too
brief.

40. ASSESSMENT
•Direction: Read and understand the
questions below and choose the letter of the
correct answer. Encircle the letter that
corresponds to your answer.

41. 1.What is the most important objective of economics as a social
science?
a.It can cater wants of wealthy individuals despite of a large
number of poor families.
b.To alleviate the level of living of all the people within the
country.
c.To study different ways to increase the national income
d.To globally produce goods and services that can help other
countries

42. 2. There are three main questions that answers economics. Which of
these are NOT included in the group?
a.what are the goods and services needed by the people?
b.In what way goods and services are produce?
c.For whom goods and services be produce?
d.How to conserve the raw materials for production?

43. 3. The scarcity of resources such as natural resources, human
resources and capital resources is inevitable due to
___________________.
a.Persons needs and wants are unlimited while the resources are
limited.
b.Typhoons and other calamities or fortuitous event that may destroy
the resources.
c.Capitalist who hoards the products that are being sold in the market.
d.Improper use of natural resources in a wide scope.

44. 4. The word economics came from the Greek words oikos and nomos
which means ____________.
a.Business management
b.Trading and merchandising
c.Household management
d.Conservation

45. 5. Its important and beneficial for the youth to study economics. What
is the best outcome that you gain in studying economics?
a.Memorize the concept of economics to easily pass the college degree
b.To become a critic of the government
c.To study the moves, actions, scientific methods and procedures that
may help you to come up with a rational decision now and in the
future
d.Can have the opportunity in teaching economics.

46. Answer key

47. 1.What is the most important objective of economics as a social
science?
a.It can cater wants of wealthy individuals despite of a large
number of poor families.
b.To alleviate the level of living of all the people within the
country.
c.To study different ways to increase the national income
d.To globally produce goods and services that can help other
countries

48. 2. There are three main questions that answers economics. Which of
these are not included in the group?
a.what are the goods and services needed by the people?
b.In what way goods and services are produce?
c.For whom goods and services be produce?
d.How to conserve the raw materials for production?

49. 3. The scarcity of resources such as natural resources, human
resources and capital resources is inevitable due to
___________________.
a.Persons needs and wants are unlimited while the resources are
limited.
b.Typhoons and other calamities or fortuitous event that may destroy
the resources.
c.Capitalist who hoards the products that are being sold in the market.
d.Improper use of natural resources in a wide scope.

50. 4. The word economics came from the Greek words oikos and nomos
which means ____________.
a.Business management
b.Trading and merchandising
c.Household management
d.Conservation

51. 5. Its important and beneficial for the youth to study economics. What
is the best outcome that you gain in studying economics?
a.Memorize the concept of economics to easily pass the college degree
b.To become a critic of the government
c.To study the moves, actions, scientific methods and procedures
that may help you to come up with a rational decision now and in
the future
d.Can have the opportunity in teaching economics.

52. ASSIGNMENT
Compose a song, poem or short story
that describes the meaning and
concept of economics.

53. Rubrics for scoring
Criteria The student
demonstrates
knowledge of the
topics.
(15 points)
The student
demonstrates
sufficient knowledge
of the topics.
(10 points)
The student
demonstrates
minimal
understanding of the
topics.
(5 points)
Ideas
Content
Organization