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Which factors affect the changes of needs and wants as a time passes by or as a person grows older?
AGE
Who formulated the famous Hierarchy theory about human needs?
Abraham Harold Maslow
Which of the following hierarchy needs refer to this situation, the government under the new administration of President Ferdinand “Bongbong” Marcos assures the Filipino people that there is enough supply of rice in the country?
Physiological Needs
What will happen when there is lack of sufficient resources to satisfy all needs and wants?
Scarcity
What is safety needs?
protection from violence, family security, health and job.
What is scarcity?
the inability to satisfy the unlimited wants and needs of people
What will happen when there is a lack of fresh water resources to meet the standard water demands?
Water Scarcity
It refers to lack of sufficient resources to satisfy all needs and wants.
Scarcity
What type of resource is a tree?
Natural Resource
What are the things called that are made in factories and then sold in stores?
Goods
What economic principle explain the relationship between the scarcity of a resource and its value?
Law of Scarcity
What is a natural resource?
Something from nature that is useful to people.
As a student, what resource do you use to meet your important needs?
Financial support of the parents.
Economics helps you prioritize your needs and learn to conserve the _______.
Resources
What are your most important needs as a student?
Basic needs like food, clothing, shelter, and the materials for schooling.
