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1. In your understanding, what is the importance of studying applied economics? 2. Think of a recent case during COVID-19 pandemic in which decision by

1. In your understanding, what is the importance of studying applied economics?

2. Think of a recent case during COVID-19 pandemic in which decision by the Philippine Government was constrained by the scarcity of resources. How does government resolve the scarcity of resources during pandemic?

3. Why do you think scarcity affects both poorest and richest person in the Philippines. Explain.

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