Applied Economics

1. Using a pie chart, show your regular allowance for the week and how you budget this for your
school and personal expenses.

Weekly Expenses

500 Php per week or 100 Php per day

48 Php: Fare

25 Php: Food

17 Php: Savings

10 Php: Other Necessities

2. Talk to the person who prepares the household budget for the family, it could be your mother
or your father. Make a list of all the basic expenses for one month. Then ask the budget
percentage for each of these expenses.

Monthly Expenses Percentage

Food Expenses 44%

Personal Care Expenses 27%

Transportation 18%

Home Expenses 8%

Health Care Expenses 3%

3. Assume that your family's budget is only 500 Php a day. Figure out with the help of your
mother what it can buy. How much can you set aside for monthly rental or housing loan
repayment with the foregoing budget? Imagine the kind of house your family can afford to rent
with the amount in the foregoing. How do you compare this house with what you see in the
slum areas?

To Buy:
The house that our family can afford
Rent to rent is more convenient, comfortable and safety
- 100 Php
than what we see in slum areas. It is because the house that we can afford is far from the bad
happenings unlike in2the
kgs.slum
rice areas which
- 100 isphp
often placed among the places the vulnerable to
natural disasters and floods. Also, it is more safety because the buildings are in good condition
Asstd. Veggies - 50 Php
unlike in the slum areas that buildings are in bad condition.
I kg. meat - 150 Php
4. Enumerate five common public goods and services government provides with the taxes we
pay. Are the benefitsOther
of these public -goods
necessities and services worth the taxes your parents pay?
100 Php
Explain.
Total: 500 Php
The five common public goods and services government provides with the taxes we pay are
highways, sanitation, libraries, police services and fire protection. I could say that the taxes that
my parents are paying are worth it because the government make sure or they doing their best
to provide to us the public goods and services that we need. Example, when there is a fire the
bureau of fire protection are always to the rescue to help those people who in need.