Assignments 1 and 2 in Economics with Land Reform and Taxation (Tutorial Class, 2nd Sem, AY 2011-2012)

Assignment 1 in Economics with Land Reform and Taxation

1. What is economic problem? Cite ONE economic problem our country is facing and using the three basic economic questions, suggest some solutions to this economic problem.

2. Evaluate the performance of President Benigno Aquino III in terms of our economy.

3. What is the importance of studying economics?

Assignment 2 in Economics with Land Reform and Taxation

1. Explain the Law of Demand and Supply.

2. If the price of gasoline keeps on increasing in the next three months, what do you think would happen to the demand of gasoline? What will happen in the supply of gasoline? Explain.

3. How will use apply the concept of opportunity cost in your life as a student? Give a concrete example.