Grade 12 Business 3 (Business Economics)

Content standard

The learners demonstrate an understanding of the key concepts, principles, and practices in business economics, and apply this knowledge to formulate strategies and make well-informed decisions within the business environment.

Performance standard

Learners propose an appropriate business economics strategy or intervention in addressing a particular economic challenge within a local business setting.

Learning competencies (8)

• BUSECO-G12-Q1-01

  define the fundamental concepts and basic principles of economics

• BUSECO-G12-Q1-02

  examine the basic economic problem in relation to economic goals and business decision making

• BUSECO-G12-Q1-03

  demonstrate the steps in effective, efficient, and data-driven decision making

• BUSECO-G12-Q1-04

  discuss the market structure and its characteristics

• BUSECO-G12-Q1-05

  analyze the market force of demand and supply to determine optimal pricing and output decisions for a firm

• BUSECO-G12-Q1-06

  analyze the cost-minimizing and profit maximizing strategies of the firm for efficacy of short-run and long-run production

• BUSECO-G12-Q1-07

  evaluate the impact of elasticity on revenue and its role in optimal pricing decisions

• BUSECO-G12-Q1-08

  analyze consumer expenditures and their effect on consumer behavior

Content standard

The learners demonstrate an understanding of the socio-economic concerns in the business macroenvironment and their interaction with the attainment of a sustainable economy.

Performance standard

Learners develop an innovative and sustainable business solution that addresses a socioeconomic challenge in the community.

Learning competencies (8)

• BUSECO-G12-Q2-01

  analyze government policies

• BUSECO-G12-Q2-02

  apply the concept of Pareto Principle, cost-benefit, and risk-benefit analysis in business decision making

• BUSECO-G12-Q2-03

  analyze the demographic challenges in the business environment

• BUSECO-G12-Q2-04

  discuss how wages are determined in relation to the dynamics of labor supply and demand

• BUSECO-G12-Q2-05

  discuss the impacts of inflation

• BUSECO-G12-Q2-06

  analyze impacts of changes in exchange rates, international trade organizations, and other trade barriers on domestic and international markets

• BUSECO-G12-Q2-07

  assess the factors contributing to the rise of emerging markets, multinational corporations and conglomerates, and business process outsourcing

• BUSECO-G12-Q2-08

  evaluate the challenges, opportunities and impact of technological advancement and innovation on the emergence of digital markets and the knowledge economy