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November 12, 2022

Define the following terms

Creative Writing

Define the following terms:

1. Economics

2. Microeconomics

3. Macroeconomics

4. Equity

5. Land

6. Production

7. Mixed Economy

8. Capitalism

9. Opportunity cost

10. Communism

11. Based on your personal observation, make a short discussion of the current status of the Philippine economy:

Guidelines: 

Government system and its performance:

12. Describe the difference between demand and supply.

13. In what ways do the forces of demand and supply affect its curve?

14. How does the law of demand and supply affect the market?

15. How does equilibrium occur in the market?

16. What are the price controls of the government?

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