Danell L.

Lita Managerial Economics

1 BSA (Non-ABM) August 22, 2019
1. According to the internet, Economics provides a framework
for understanding the actions and decisions of individual,
businesses and governments. It provides a means to
understand interactions in a market-driven society and for
analyzing government policies that affect the families, jobs,
and lives of citizens.

a) Transportation Sector is a category of companies that

provide services moving people, goods, or the
infrastructure to do so.
b) Health Sector is technically the sector of the economy
made up of companies that specialize in products and
services related to health and medical care.
c) Education is a system wherein people are being acquired
to attain it to have a better future. In our economy, people
must have a high educational attainment so that it would
be a good credential for them to be able to hire in a good
company.
2. Economists often study historical trends and use them to
make forecasts. They do some research and analyze data
using a variety of software programs while Managers are
responsible for overseeing a department or group of
employees within a specific organization or company.
3. Microeconomics is the study of the economics at an
individual, group or company level. It focuses on issues that
affect individuals and companies while Macroeconomics is
the study of a national economy as a whole. These two are
 related to each other since both of them are the studies of
economics. The impact of each one affects each other.
4. These are the other law of economics:
a) Law of self interest. On this law, people work for their
own good.
b) Law of competition. Competition forces people to make
a better product.
c) Law of supply and demand. This implies when enough
goods would be produced agt the lowest possible price to
meet demand in a market company.
5. Therefore I can conclude from this statement that Price
depends upon the economic status of the society.
6. Managerial Economics is the concept that must be used by
the managers since it is the study of how this group of high-
position people study the economic principles and analyses
as well as quantitative tools in making an effective business
and managerial decisions.
7. On this period, I chose and viewed the social accounting
report of the DOLE organization specifically the Bureau of
Workers with Special Concerns. According to the Director,
Atty. Ma. Karina Perida- Trayvilla, it continues to fulfil the
crucial role in championing the rights of workers to decent
work and productive employment. Another strength is that
the BWSC set forth the recognition of their steadfast
partners in advocating family welfare and child- labor free
communities.
8. According to the PSA, the National Income Accounts is one
of the major macroeconomic statistics compiled by the
Philippine Statistics Authority and it is said that on the fourth
quarter or 2014, the country’s GDP accelerated to 6.9% from
 6.3% in the same period of 2013. The GNP was ranged into
85-89,000 USD.
9. I based this information from the discussion paper of Miss
Sandra M. Leitner entitled “The Business Cycle in the
Philippines.” She included on her research this information
about the business cycle in our country that has been
effective from the year 1981 until 2003. First was the
volatility. With the respect to the inflation rate and money
supply, she said that it is four times and two times larger in
Asian economics. Second were co-movements. Lastly was
the persistence.
10. Wage Inflation is the type of inflation that is currently
happening in our country right now. This occurs when total
demand for goods and services in an economy exceeds the
supply of the same time. According to the internet, the
inflation value was 3.2 and its annual percentage change is -
65.32%.