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Activity: Weighing The Market

This activity asks students to weigh the pros and cons of different economic scenarios and their impacts. Scenario A discusses converting farmland to real estate, which could attract investors but displace farmers. Scenario B examines online international shopping, providing convenience but higher costs. Scenario C considers importing cheaper rice from Taiwan, saving money but affecting local farmers. Scenario D presents relocating after job loss overseas, allowing higher pay but family separation. Scenario E reviews impacts of financial crises on retirement funds. For each, students must list positive and negative effects to reach a considered judgment.

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CHARLES VINCENT PACO
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31 views

Activity: Weighing The Market

This activity asks students to weigh the pros and cons of different economic scenarios and their impacts. Scenario A discusses converting farmland to real estate, which could attract investors but displace farmers. Scenario B examines online international shopping, providing convenience but higher costs. Scenario C considers importing cheaper rice from Taiwan, saving money but affecting local farmers. Scenario D presents relocating after job loss overseas, allowing higher pay but family separation. Scenario E reviews impacts of financial crises on retirement funds. For each, students must list positive and negative effects to reach a considered judgment.

Uploaded by

CHARLES VINCENT PACO
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Activity: Weighing the Market

The history of the global market brought positive and negative effects through time. At this point,
markets will be assessed through your own perspective provided that you already had a good grasp of
the different concepts in economic and financial globalization. This activity will help you understand the
benefits and harms of global economic processes, structures, and technologies.

1. Listed below are the scenarios that have to do with the economy. Discuss the major impacts of
these scenarios whether they are positive or negative (for you, for the country, or for the
Filipinos) (10pts each)

Scenario A. Agriculture is the main source of employment in your home province. The government has
recently decided to develop the farmlands into real estate and exclusive subdivisions in order to attract
foreign investors to the country.

Positive:

Turning Farmlands into real estate and exclusive subdivisions will help the country’s economy to
grow if foreign Investors start investing it could create new job opportunities reducing the
unemployment rate in the province.

Investing money in a business, whether in the form of technology or money, will undoubtedly
contribute to economic progress. If business people invest enough, they will be able to manufacture
more items and provide more job possibilities for the general public (laborers or staff members). When a
country's employment opportunities grow, so does its workers' income and standard of living. When the
standard of life rises, the purchasing power of workers (laborers or employees) rises with it. Workers and
the general public will consume more products from business owners. As a result, business people will
benefit as well. At the same time, the country's economic situation will change. It's behaving just like a
chain.

Negative:

Farmers will lose their principal source of income because agriculture is their primary source of
employment. And food supply will be shifted from the local or domestic to imported, which is far more
expensive than locally produced food.
Scenario B. You decided to purchase a new shirt through an online shop based in London.

Positive:

It will be more convenient for me because I will not have to go to the mall to get a new shirt, and
it will save me time and effort.

Negative:

Because the item will be purchased online and from another country, there will be a shipping fee
added to the original price so it is more expensive. It will also take time to get your item.

Scenario C. The Philippine government is being pressured by the current economic crisis to import rice
from Taiwan and other nearby countries in the region.

Positive:

When compared to Japanese rice, importing rice from Taiwan and other adjacent nations will
save the Philippines money. Taiwanese rice is much cheaper and of comparable quality. This means that
restaurants can have Taiwanese rice for a lower price but with a similar quality to Japanese rice.

Negative:

Because of the importation of Taiwanese rice, the local distribution of local rice would be
altered; the government and the general public may prefer the cheaper Taiwanese rice over the locally
produced rice, resulting in local farmers losing money. Although I believe that the use of Taiwanese rice
will be situational, because there are several types of rice in the kitchen, each of which shines in its own
category. Some rice is good for fried rice, such as jasmine rice with long grain, while others are good for
sushi, such as japanese rice with short grain.
Scenario D. A Multinational Corporation decided to close. Unfortunately, your father is one of its many
employees whose work has been terminated. However, he could still be employed if he were to accept
the offer to move or relocate to another country.

Positive:

If he accepts the offer, he will be able to work and travel overseas, allowing him to earn more money.

Negative:

If he accepts the offer, he will have to adjust to a different culture, customs, climate, and weather. He
must make a sacrifice and be apart from his family.

Scenario E. The global financial crisis has affected the investment funds of your mother that she can use
for her retirement.

Positive:

The world does not end because of the Global Financial Crisis. Rather than waiting for things to
return to normal, we can use these to explore for new opportunities.

Negative:

Due to the cases that have been discovered and spread over the world since the beginning of
COVID-19, the global economy has been in decline. The pandemic affected everyone, even small and
large enterprises, which were forced to halt or reduce their operations during the peak of the epidemic.
This simply demonstrates how everyone will be affected by a global financial crisis, including the
economy, equities, markets, finances, and enterprises.

2. How did you decide for each scenario? What are the pros and the cons that you list down before
you came up with the final judgment? (10pts)

My thought process before making a final judgment for each scenario is to first determine who
will benefit the most from it or who will be the most affected by it. Then I made a list of each scenario's
good and negative effects. Finally, I go over my answers to determine if my reasoning is sound and moral,
and if it is not, I make changes.

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