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Economics: Scarcity & Solutions

The document discusses scarcity, trade-offs, and opportunity cost in the context of the COVID-19 pandemic in the Philippines. It describes how families are experiencing food shortages under quarantine restrictions. The government distributed vegetable seeds for people to plant to address limited food stocks. This introduced an opportunity cost by providing a long-term food source over simply distributing limited vegetables. However, not all families may have the means to plant seeds. Moving forward, the government and public must consider additional factors to better cope with scarcity and improve lives during the crisis.

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Cristaiza R. Dumpit
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329 views4 pages

Economics: Scarcity & Solutions

The document discusses scarcity, trade-offs, and opportunity cost in the context of the COVID-19 pandemic in the Philippines. It describes how families are experiencing food shortages under quarantine restrictions. The government distributed vegetable seeds for people to plant to address limited food stocks. This introduced an opportunity cost by providing a long-term food source over simply distributing limited vegetables. However, not all families may have the means to plant seeds. Moving forward, the government and public must consider additional factors to better cope with scarcity and improve lives during the crisis.

Uploaded by

Cristaiza R. Dumpit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ACTIVITY 2: SCARCITY, TRADE OFF, OPPORTUNITY COST

Get a copy of a news item that is related to any economic issue. Attach/ Paste it on the
space provided then answer the questions that follow. ”
Guide questions:

1. How is the news related to problem of scarcity? Explain. (minimum of 5 sentences)


“ ”

The news stated that we are having a food shortage for the families of the filipino in
the Philippines as we experience quarantine. Everyone cant go outside as we are in
quarantine to prevent the spread of the virus. Due to that a lot of families has
experienced shortage of food stocks as time pass by. The government gave out
vegetables seeds that they can plant to give them food supplies. Families can plant
these and have a food supplies.

2. “ How do you relate the concept of trade off or opportunity cost to the news clip? ”

Explain. (minimum of 5 sentences)


If the government just gave out vegetables, it will be very limited. The food supplies will not
last very long. They made a decision, an alternative for food supplies, to just give out
vegetables seed. Doing this, as time passes by families will have food supplies. For a long
period of time they can have something to eat.
3. In your opinion, how should the government deal with this problem? How should the
“

Filipinos cope in this issue of scarcity and improve the lives of the people? (minimum
”

of 8 sentences)
The government made a wise decision to give out vegetable seeds. But they didn’t think
about the factor of families that has no pots to plant the seeds. It will also take a loner time
to harvest food supplies. Filipinos that have been given the seeds should take care of it as
this will be their food supplies as we are having a food supplies shortage.
“ You will be graded based on the following rubrics :
”

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