Melc 3 Applied Economics

APPLIED ECONOMICS
Quarter 1 – Week 3-4

Learning Activity Sheet
Name: __________________________ Grade & Section: _____________
MARKET DEMAND, SUPPLY & EQUILIBRIUM
I. Situation Analysis: You are planning to buy a new cellphone by next month. List down 5
different factors or reasons that will affect your decision accordingly.
Factors/Reasons affect your decision
To buy Not to buy
II. Graph Analysis: Please analyze the graph and answer the questions below.
1. Locate the equilibrium point on the demand and supply graph.
Put a point on the graph
2. If the price is above the equilibrium level, what could you
predict with the demand and supply?
_____________________
3. If below the equilibrium point, what could you predict with the
demand and supply?
_____________________
III. Fill In the Blanks: Analyze the following statements carefully.
1. The law of ______________________________ applies during online sales of shoes; that is when
consumers rush to buy products at 50% discounts.
2. The law of _______________________ applies when the producers supply more pineapple juices at a
higher price; selling at higher quantity at a higher price increases revenue.
3. The ________________explain the interaction between the sellers of a resource and the buyers for that
resource.
4. The _______________________ states that, higher the price, the higher the quantity supplied.
5. A movement refers to a change along a _________________.
6. When Supply and demand are balanced, it is called ____________________.
7. The _______________________________________states that ―the higher the price, the lower the
quantity demanded.
IV. Banana Pie “What if?” - If the price of a product increases, quantity demanded will decrease
and quantity supplied will increase. If the price of a product decreases, quantity demanded will
increase and quantity supplied will decrease. The forces of supply and demand determine
prices, which are measures of the relative scarcity of different products. Analyze the following
statement. Write the possible effect (Increase, Decrease, No Change) in supply and price.
Statement Effect In Supply Effect in Price
1. Bananas were found to cure the COVID-19.
2. People stopped buying banana pie and started buying more
mango pie.
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3. Banana pie advertisements on television made more people buy
banana pie.
4. The weather was bad and not many bananas were produced.
5. Foreign countries started importing banana pies at a cheaper
price.
V. Analyze the demand and supply curves and answer the questions that follows.
1. ____________How many items does a consumer want to purchase if its price is ₱150.00?
2. ____________ At what point does the consumer want to purchase 100 units?
3. ____________At what price does the consumer want to purchase 10 units?
4. ____________ Is there an increase in quantity demanded when the price of the good decrease from
₱150.00 to ₱100.00? If yes, how many percent is the increase? If no, how many percent is the decrease?
5. ____________What can you say about the quantity demanded as the price increases?
6. ____________How many units does the producer wants to sell at a price of 150.00?
7. ____________From point A to D, quantity supplied increases by how many units?
8. ____________How much is the increase in price from point D to point G?
9. ____________What happened to the quantity supplied when the price decreases?
10. ____________Considering the supply and the demand curve, at what price does the number of units
demanded by the consumer is the same with the number of units produced by the supplier?
Assessment:
A. Multiple Choice. Choose the letter of the best answer. Write the chosen letter on the space provided.
_______1. Law of demand states that, other things equal, when the price increases
a. quantity demanded decreases
b. quantity demanded increases
c. quantity demanded will increase or decrease
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d. quantity demanded will not increase nor decrease
_______2. If consumers desire to buy more of a certain product at a possible price, that increase in demand
is shown as
a. a shift of demand curve to the right. c. a shift of demand curve upward.
b. a shift of demand curve to the left. d. a shift of demand curve downward.
_______3. Improvements in technology enable firms to produce units of output with fewer resources.
Because resources is costly using fewer of them will
a. lowers production costs and increase supply. c. lowers production costs and decrease supply.
b. higher production costs and increase supply. d. higher production costs and decrease supply.
_______4. A change in supply means a change in the schedule and
a. a shift in the demand curve. c. a shift of the supply curve.
b. no change in the demand curve. d. no change in the supply curve.
_______5. An increase in the price of electricity bill will force you to:
a. increases your demand for kerosene heaters and coal.
b. increases your demand for light bulbs and aircon.
c. increases your demand for stereos and karaoke.
d. increases your demand for TVs and use of gadgets.
B. From the word/words given below, choose what is being described in the sentence.
a. Shortage d. Supply Curve g. Surplus j. Market
b. Equilibrium e. Quantity Demanded h. Demand Schedule k. Ceteris Paribus
c. Demand Curve f. Quantity Supplied i. Supply Schedule l. Price
_______1. It refers to the number of goods that the consumer is willing to buy.
_______2. It happens when the number of goods that the producer can produce exceeds the equilibrium
quantity.
_______3. A table that shows the quantity demanded for a product at a given price.
_______4. It refers to amount of goods that the producer is willing to sell.
_______5. It is the point where the quantity demanded, and the quantity supplied meets.
_______6. It is where the buyer and the seller meet.
_______7. It is a graphical representation showing the relationship of price and demand.
_______8. It is a graphical representation showing the relationship of price and supply.
_______9. A table that shows the quantity supplied in unit at a given price.
_______10. It is an assumption that all other things are the same.
C. Indicate the effects of the given statements on the demand and supply of a good/product based
on the following outcomes. Write the letter of your choice on the space provided.
Write A if the Demand increases and B if it Write A if the Supply increases and B if it
decreases. decreases.
_____1. Increase in salary _____1. New discovery of gold mines
_____2. The new Iphone 13 is out in the market. _____2. Decrease in the price
_____3. Vitamins C during the pandemic. _____3. Improved technology of the supplier
_____4. Oil price hike _____4. Typhoon Karla greatly affects the
_____5. Demand in facemask during the pandemic agriculture industry.
_____5. Supply of alcohol during the pandemic.
Prepared by: Checked by:
CLARISE D. LAUREL MYLA V. COMBALICER, EdD

Subject Teacher Principal II

Melc 3 Applied Economics

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APPLIED ECONOMICS

Quarter 1 – Week 3-4

MARKET DEMAND, SUPPLY & EQUILIBRIUM

Prepared by: Checked by:

CLARISE D. LAUREL MYLA V. COMBALICER, EdD

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