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ACTIVITIES Activity 1: Economics and Applied Economics Directions: Give at least 3 dierences and similarities of economics and applied economics. Write your answer using Venn diagram. Economics Applied Economics Activity 2: Positive vs Normative Directions: Give examples of positive and normative economics. Write your answer in the table. @ VALUING I Know What is Happening! Directions: Give one economic theory. Apply this theoryr to evaluate a certain economic activity. Example: Economic Theory: Law of Demand The law of demand states that as price increases, all other things are being constant, the quantity demanded will decrease. Real World Scenario: Due to the price increase of pork, consumers hesitate to buy more. According to them, they will go for chicken which is cheaper compared to pork. \"\" \""" 8\"\