Economics with Taxation

In: Social Issues

Submitted By marylord
Words 261
Pages 2
West Visayas State University- Himamaylan City Extension Campus
Bgry. Caradio- an Himamaylan, Negros Occidental

Answer the following questions in a 1 whole yellow pad. To be submitted next meeting. A. Review Questions 1. What is demand? 2. How could the Law of Demand help the consumer in deciding how many units of a commodity to purchase? 3. Why does demand rise when buyers’ income rise? 4. How does knowledge of the demand schedule help in the examination of the economy?

B. Activities. 1. Find an empty box. Wrap it so that it becomes attractive to buyers. Explain to the class (next meeting) how the manner in which a commodity is wrapped or packed can affect demand for that commodity. 2. How would you decide in the following situation?
You saved some amount of money from your daily allowance because you were planning to buy flowers and give it to special friend during Valentine’s Day. But a few days before Valentine’s Day, you had a school project. You had no money to buy materials for the project except the money you saved for the flowers. Which would you buy: the flowers of the materials for the project?

C. Draw the demand curve of the following situation. 1. The price of sugar will increase next month. What will happen to the demand for bread this month? 2. What would happen to the demand for Havianas slippers if the price of Ipanema slippers were doubled? 3. Rice farms were damaged by the typhoon Yolanda, what would be the demand for rice?


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