Market Economy (group summary)

Ours is a presentation about the two different situations faced by our market economy- surplus and shortage.

Act I: “Surplus”

                           Characters: Daphne Kaamino

Alma Legaspina

LJ Sayson

Leah del Gado

Daphne was thinking on how to spend her New Year effectively. Since she is such a bookworm, she decided to read 10 books in a week, as her New Year’s resolution. However, she realized that she has only php100 in her pocket, and she pondered how’d she purchase 10 books for only a hundred peso bill. She, then, called her friend, LJ, to ask advice. LJ told her to go a book sale at Victoria Plaza and check out “Leah’s Book Shop” for cheap readings. Earlier, “Alma Publishing Company” has disposed a handful of old and unnecessary books to “Leah’s Book Shop”. Luckily, it was just on time that Daphne arrived there. The books were really sold at lower price due to over production yet less demand from the buyers. Surplus now happens here when there was less demand of books from “Alma Publishing Company” and more supplied given to “Leah’s Book Shop”. Finally, Daphne’s 100 bill has purchased a lot. It even exceeded her expectations and thus gave her relief in fulfilling her New Year’s resolution. 

ACT II: “Shortage”

Characters: Alma Legaspina

Belle Babista

LJ Sayson

Bea Diaz (absent)

Alma, a cosmetic dealer, has sold a lot of cosmetics to her daily customers. With her few remaining products, she decided to sell those in a higher price. Her first customer that day, LJ, didn’t compromise to it, however, Belle, who knew more about business matters, and knew that Amla’s products are imported and high in quality, she pursued in buying those. Thus, although there is a shortage in producing cosmetics, there is still a solution through and by means of increasing the price of the products.