Apat na Batayang Katanungang Pang-ekonomiko

Educational flashcards covering the four basic economic questions, the concept of scarcity, and the Production Possibilities Frontier (PPF) model.

What to produce? (Ano ang Ipoprodyus?)

The economic question that identifies which products or services should be created based on the needs and demand of the society using limited resources.

How to produce? (Paano Ipoprodyus?)

The selection of production methods involving technology, machinery, or manual labor to determine the resulting cost and quality of goods.

For whom to produce? (Para Kanino Ipoprodyus?)

The decision regarding who will benefit from the products based on the distribution of income and the purchasing power of the population, such as the mass market versus a high-end market.

How many to produce? (Gaano karami ang Ipoprodyus?)

The determination of the exact quantity of products to be made to avoid a shortage or a surplus supply in the market based on demand.

Efficiency

The primary goal of determining how to produce, which focuses on achieving the lowest cost possible while maintaining production standards.

Scarcity (Kakapusan)

The fundamental economic condition of limited resources that necessitates answering the four basic economic questions for proper decision-making.

Production Possibilities Frontier (PPF)

A model that illustrates strategies for using factors of production to create combinations of products, assuming only two products are being made within a community of limited resources.

Economic Decisions

Choices guided by the four basic economic questions to ensure the proper use of resources and the improvement of production and distribution.

Shortage and Surplus

Market conditions that are avoided by correctly answering the question of how many products to produce.

PPF Example: Option A

A production strategy on the frontier where $0$ units of food are produced and $1000$ units of housing are produced.

PPF Example: Option F

A production strategy on the frontier where $500$ units of food are produced and $0$ units of housing are produced.