1 BUSINESS ENTERPRISE SIMULATION 1

1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

I. CONTENT STANDARD IV. MOTIVATION

In this module, the learners will experience actual management execution My Dream Business!
and decision making by executing their business plans. 1. What is your dream business? Imagining that you have been given 1
million to start a business, what will your business be? How are you going
II. LEARNING OBJECTIVES to spend your capital to start a business? Create a breakdown of how
At the end of this module, the learners will be able to:
you are going to spend your capital or budget and explain why you have
a. scan the market and identify potential business opportunities to
allocated that amount for such items (product development and
capitalize on;
research, supplies, equipment, location and store, promotion and
b. use appropriate analysis framework and methodology in choosing a
marketing strategy, and monthly operations cost).
product which is feasible in terms of the market, operations, and
Name of business: _____________________________________________________
financials;
Type of business: ______________________________________________________
c. choose the appropriate methodology (research, sampling, and data
Product Development and Research:
processing) in determining the demand and market acceptability of
______________________________________________________________________________
proposed product;
______________________________________________________________________________
d. draw conclusions and formulate recommendations; and
______________________________________________________________________________
e. prepare a strategic plan outlining the competitive environment and
Supplies:
focusing on the appropriate competition strategy.
______________________________________________________________________________
HOW TO LEARN FROM THIS MODULE? ______________________________________________________________________________
______________________________________________________________________________
1. Read and follow the instructions very carefully. Equipment
2. Take the pre-test (the number of items varies depending on the topic) to ______________________________________________________________________________
determine how much you know about the lessons in the module. ______________________________________________________________________________
3. Check your answers against the correct answers provided at the last ______________________________________________________________________________
page of the module. Location and store:
4. Be very honest in taking the test so you know how much knowledge you ______________________________________________________________________________
already have about the topic. ______________________________________________________________________________
5. Perform all the activities, as these will help you have a better ______________________________________________________________________________
understanding of the topic.
6. Take the post-test to assess how much you learned in the module Promotion and Marketing Strategy
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

STA. LUCIA ACADEMY - 09693239648 Page | 1

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

Monthly Operations cost (such as utility bills, salary of employees, daily LIABILITIES
expenses): Liabilities entail an organization’s legal and financial responsibility
______________________________________________________________________________
and obligation. These are things an organization spends on – these
______________________________________________________________________________
are, but not limited to, accounts payable, loans, and mortgages.
______________________________________________________________________________
Liabilities, like assets, are classified into two types: current liabilities
V. DISCUSSION (which are short-term liabilities usually transacted within a month or
Reading 1: Accounting Concepts and Terminologies so, such as account payables0; and long-term liabilities, which take
Managing your finances, learning to properly allocate them, and longer to pay (examples: mortgages, bank loans).
minimizing cost is what keeps a business afloat. Accounting keeps
your business from sinking. BALANCE SHEET
It is necessary to stress that accounting is not a one-time thing. It According to business authors Mary Jane Byrd and Leon Megginson,
is a way of life. For the non- accounting savvy, even if you already the most basic accounting truth is “the total of liabilities (plus owners’
have an account, it is still necessary to review your own accounting equity) always the total assets of the firm.” The balance sheet is the
records to make sure that you do not fall victim to theft or fraud. accounting document that shows the balance between these two
worlds. Byrd and Megginson adds that the balance sheet is the tool
Accounting Terminologies that shows the “financial health” of your organization.
In order to understand how accounting, as a process, identifies,
measures, and communicates financial information through the MIKAELA ELISE ENTERPRISES
completion of a financial statement, here are basic accounting BALANCE SHEET
December 13
concepts or terminologies that you need to know. These concepts will
Assets Liabilities &
also help you keep track of the financial standing of a business.
Equity
Cash P25,00 Liabilities P10,000
ASSETS
Total P25,000 Owner’s Equity P15,000
Assets are properties, resources, possessions, or goods that an
Assets
organization owns. These include, but are not limited to, land,
Total Liabilities and P25,000
equipment, and accounts receivable. Accounts receivables are billed
Owner’s Equity
transactions in which we expect money to come in. assets are
classified into two types: current (which are changing money, accounts The balance sheet shows whether you are spending too much or too little,
receivables); and fixed (which are constant: land and equipment). based on whether there is a tip in the scale. The word here is “balance.”

STA. LUCIA ACADEMY - 09693239648 Page | 2

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

TRANSACTION Example:
A transaction is an activity that involves money in exchange of
goods or services. We often hear the term transaction when we deal MIKAELA ELISE ENTERPRISES
with banks (bank transactions, bills payment transactions, loan BALANCE SHEET
transactions, and the like). DECEMBER 13
Sales P100,000
PROFIT Operating Expenses P80,000
Profit or income is the difference between what have you earned Income before tax P20,000
(revenue) and what you have spent (expenses). Less Income tax P6,000
If your profit rises after an accounting period, then you have Net Income after taxes P14,000
“gains”. You gain by earning more than you spend. If your profit decreases
after an accounting period, then you have incurred “losses.” You incur
losses by spending more than what you earn. Reading 2: Bank and Financial Currency
The General Profit Formula is as follows: Investing is about building a better future for you, your family, or
Profit (Income) = Earnings (Revenue) – Expenses business. In financial terms, investing is the process of buying a bond,
51,500.00 = 54,000.00 – 52,500.00 stock, treasury bills, or real stare in exchange of financial return or profit
over time. The long-term profit that your financial investments can finance
your retirement, pay for the tuition of your children, and even allow you to
open a business (for example, a small convenience store). The reason is
investments, such as stocks and bonds, offer stronger financial returns
compared to the modest gains or interests that you earn in maintaining a
savings account. However, investing also requires taking risks and making
wise decisions, similar to starting a business.
Aside from cash or money, businesses and individuals may go into
financials investments for profit. These are securities, stocks and insurance.

INCOME STATEMENT SECURITIES

Also known as Profit and Loss Statement that shows an These can be in the form of treasury bills, notes, and bonds. These
organization’s operational earnings and expenses. are government issued and are sold by the government to raise funds.

STA. LUCIA ACADEMY - 09693239648 Page | 3

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

Through the purchase of securities, you earn after your security matures A checking account lets you pay bills and make purchases using a
and you receive the money with interest. Interest is the difference between debit card or paper checks instead of paying cash. [Link]
the purchase price and the actual price. defines a checking account as a “’deposit account held at a financial
institution that allows withdrawals and deposits. A checking account is a
STOCKS “very liquid and can be accessed using checks, automated teller machines,
Stocks are another form of investment that can be purchased and electronic debits, among other methods.”
through the Philippine Stock Exchange. Stocks are “ownerships” in a
company. These are paid out through dividends when a company is As a kind of saving account, a time deposit earns a fixed interest
profitable. You can also earn by buying and selling stocks during rate when it reaches maturity. For example, if you put P510, 000 in a time
appropriate times. deposit account with a fixed term of one year, then your money will earn
an interest after the end of one year. You can then withdraw your P510,
INSURANCE 000 and its interest or you can again deposit account is much higher
Insurance and pension plans are alternative means of earning. compared to the interest earned in an ordinary savings account.
After making premium payments in a given period of time, the insurance
company provides the insured a coverage (for health or death) and either LOANS
gives the insured a pension during their twilight years, or provides According to Investor [Link], a loan “is an arrangement in
dividends when the insurance company is profitable. With these other which a lender give money to a borrower.” In this arrangement, the
types of investments and currencies, it would be best to always deal with borrower promises to repay the money and its interest at an agreed
trusted financial institutions. Always consult and trust the experts. period of time. Lenders charge a fee, which is called interest, to earn a
profit and offset the risk that a borrower will not pay a loan.
DEPOSITS
A bank provides a means to save our money and grow it (with
little interest). We can save money through savings account, checking Loans can be typically classified as secured or unsecured. A secured loan
accounts, and time deposits. Opening a savings account lets you store requires a borrower to pledge an asset (such as a house or land) as a
and grow your money in a bank for future use. The bank pays you a small collateral for the loan, according to [Link]. If the borrower does not
amount of cash, technically called an interest, when you store your money pay the loan after an agreed period, then the lender can claim the asset or
in a savings account. According to [Link], a savings account property that the borrower put off as a collateral. Examples of secured
is “an interest-bearing deposit account held in a bank or another financial loans are mortgages and car loans.
institution that provides a modest interest rate”.

STA. LUCIA ACADEMY - 09693239648 Page | 4

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

An unsecured loan does not require any collateral from the

borrower. This loan is issued based only on the borrower’s
creditworthiness- that the borrower has the ability to pay or a high credit Reading 3: Economic Concepts
rating-as such this loan is also called as a personal loan or signature loan. You may recall principles in economics as you learn more about
As unsecured loan has a bigger risk to the lender because if the borrower business. One such principle is the theory or law of supply and demand.
does not pay back the loan, the lender cannot take anything as collateral. Why do we go into business? Some would say that, of course it is to
A credit card is an example of an unsecured loan. There are different types become financially wealthy and independent. Others would say that want
of a loan such as salary or personal loan, auto loans, housing loan, to chase their dreams and focus on their passions and leave their 40=
technology or gadget loans and business loans. hour-a-week. Then, of course, it is also because we see a need in society
that has to be filled.
INSURANCE
Merriam-Webster Dictionary defines insurance as “an agreement The law of supply and demand states that “for a market
in which a person makes regular payments to a company and the economy to function, producers must supply the goods that consumers
company promises to pay money if the person is injured or dies, or to pay wan” (Source: [Link]/the-law-of-supply-and-demand).
money equal to the value of something (such as house or car) if it is This interaction defines the effect that availability and need has on the
damaged, lost, or stolen.” costs of goods, products, and services.
Given the definition above, the insurance serves as a protection Here is an example of how a change in the internal company
from monetary loss or hardship. For example, a breadwinner of the family system can affect supply. In 2014, the Philippines had #ChickenSad
often acquires a life insurance to ensure his or her family has a stable moments when Jollibee Food Corporation migrated from its Oracle IT
future or protect his or her family from financial loss in case he or she dies system to SAP. The Jolli-glitch affected the delivery of popular products on
prematurely. Thus, if the breadwinner dies, his or her family will be able to its menu and also resulted in the closure of 72 of its outlets. The migration
receive an insured amount from the breadwinner’s group life insurance, and the loss in sales translated to monetary losses.
car insurance, housing insurance, health insurance, liability insurance, and
general insurance.

REMITTANCE SUPPLY
This is a means to transfer from one person to another (local or Supply pertains to the goods, products, or services that an
international) via a bank facility. Remittance include a fee for the service. organisation produces. Several factors affect supply: the ability to produce

STA. LUCIA ACADEMY - 09693239648 Page | 5

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

the product/good/service, cost of production (i.e labor, resources, of supply by the Manila Electric Company (MERALCO) and the National
materials), competition in the current market, availability of the resource or Power Corporation (NAPOCOR). The lack of supply is caused by the
material in question, laws and regulations, internal company systems, and limited players in the market and the kind of energy being used, which has
sometimes, even nature. been exhausted. MERALCO has a monopoly over the distribution of
electricity in the Philippines. Its power source often comes from natural
DEMAND gas facilities, which can be exhausted and are limited. Again, when there is
A demand is a need by the customers for goods, products, and more supply than demand, we can expect prices of goods, products, and
services. Demand is affected by the quality of a product, the availability of services to decrease.
substitutes for a product, and the price of complementary or other
versions or models of the products. COMPETITION
Economies thrive in healthy competition. Competition means that
PRICE there are other players in the market- other entities selling similar or the
Price is reflective of both supply and demand. An increase in the same product. If there is more competition, players have the chance to
price of a product or service affects the desire to get the product; thus, the innovate to make their products more appealing than their fellow
demand for the product will lessen. competitors. If there are few to zero competitors, then there is a
When the price lessens, the demand for the product or service monopoly on the market, which may be good for the organization, but it
increases. This is the Law of Demand in its simplest form. The Law of is not healthy, as given in the case of MERALCO in the Philippines.
Supply on the other hand states that if the price of the product or service
is high, the higher the quantity of the supply. And when the price of the A competitive market is evidenced by the cost of gadgets from
product or service is low, the supply for the product or service lessens as brands, such as MyPhone, Alcatel, Starmobile, Cherry Mobile, Torque, O +,
well. and ZTE. Most android gadgets that are not in competition with Apple or
Sometimes the demand is greater than the supply, other times Samsung are low cost because there are other players in the market that
there is greater supply than demand. When there is more demand than provide similar services, products, or goods; hence the players can only
supply, we can expect prices of goods, products, and services to increase. differentiate themselves from their competition by improving their
Inversely, if there is more supply than demand, we can expect prices of aftersales service, providing innovations in their products, and eventually
goods, products, and services to decrease. (e.g. , go on sale, discounts, lowering their prices.
promos, or price drop); or depending on the goods, products, and
services in question to remain the same.
For example, in the Philippine, the price of electricity rapidly
increases in the face if the increased demand by consumers and the lack SUPPLY AND DEMAND

STA. LUCIA ACADEMY - 09693239648 Page | 6

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

The Demand and Supply Model further demonstrates that people are naturally conformists, people would traditionally follow
when the price of a product or service increases, the demand for the good or comply based on social pressures.
decreases (lessens in quantity) while at the same time the supply of the
product or service increases in quantity. b. Social
Demand slopes downward, while supply always slopes upward. This factor generally falls into three categories: reference
Equilibrium is encountered when there is a perfect balance in both supply groups, family and social roles and status.
and demand. That means that the amount of products or services
supplied is exactly the quantity being demanded. Reference groups are groups outside of family or
A shortage occurs when the supply does not meet the demand for relatives that a person belongs to. This is often related to social
the products or services. There is a surplus when there is too much supply origin, age, place of residence, work, school, hobbies, and the like.
and too little demand. An example of reference groups relating to age would be
Generation X, Millenials, and Baby Boomers. A reference group is
CONSUMERS connected to your place of residence when you speak the dialect
What makes a consumer choose a product or service? of your community or you came from the same province as the
Based on the research authored by Pinki Rani in the International other members of the community. Work or school: An example
Journal of Current Research and Academic Review (volume 2 issue 9, would be if you are a Green Archer or a Blue Eagle. Hobbies and
September 2014; [Link]), the buying behaviour of a consumer is other activities of leisure would include people who are gamers,
influenced by four major factors: cultural, social, personal, and clashers (Clash of Clans players), Pokemon trainers (players of
psychological. Pokemon), Potterheads (people who like all things related to the
Harry Potter Universe), or simply Kawaii (defined as “cute: in the
a. Cultural context of Japanese pop culture).
Culture is part of every society. It influences a person’s
behaviour and what an individual wants. Culture includes sub- Family is the core social structure of an individual. It is its
cultures, which are shared values, experiences, beliefs, and influencer, we often become what our parents or siblings are; the
lifestyles of people. Sub-culture includes social classes or the social authority our family-elders have on us are direct and indirect.
hierarchy, such as the socioeconomic classes or ranking of people. From your speech, diet, to your lifestyle, your family influences
you. Let us say your parents only speak English at home, hence,
your first language would be English. If your parents are religious
Cultural trends are classified under this factor wherein and often bring you to church or prayer meetings, you would
whatever is “in” or “trending” is what people conform to. As most

STA. LUCIA ACADEMY - 09693239648 Page | 7

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

somehow adopt a similar eating habit as the availability of other lower priced items; if you have high income, then you may afford to
foods would be limited. purchase higher priced items.

Social roles and status is the person’s ranking or Lifestyle, as earlier mentioned, influences a person’s buying
position within his or her social network or structure. An older behaviour depending on his or her society or surroundings. This is
sibling (ate or kuya) will always have the “say” or leadership role determined by the variables that shape the consumer’s world.
when it comes to his or her other siblings, while the baby of the
family (bunso) is often treated with a certain amount of care. Personality and self-concept. Personality is the
combination of characteristics or qualities that form a person’s distinct
c. Personal character. For example, two people enter a swim suit store.
Personal factors include age, occupation, economic Considering their body type is pretty much the same, but one person
circumstance, lifestyle, personality, and self-concept. This factor is is self-confident while the other is shy. Between the two, who would
not necessarily “fixed” as most of the variables indicated are purchase a stunning swimsuit and who would purchase a simpler-
changing. notice-me-not me?
Age is illustrated as follows: our wants and desires at the
age of seven are different from that at the age 17, at the age 77, d. Psychological
so on and so forth. As a seven year old, we could have been Psychological factors that affect our buyer behavior are
happy with anything colourful or that lights up. At the age of 17, motivation (see: Abraham Maslow's Hierarchy of Needs), perception,
we desire more flashy or trendy things; at the age of 37, we might learning, beliefs, and attitudes.
not often give in to our impulse and consider other things that we
will need over what we desire; and at the 77, if we are lucky Motivation is the expression of a need or general desire to do or
enough to reach that age, we give in to what we have not achieve something. Maslow's Hierarchy of Needs is a motivational
experienced and try to fulfill bucket-lists. theory that shows a five-tier pyramid of human needs, from the most
basic needs (bottom) to the highest psychological need (top). Maslow
Occupation affects buying behaviour. For example, a student believed that people are motivated to achieve certain needs:
would buy school supplies while a housewife would be looking at deficiency needs and growth needs.
things for her home or family.
Deficiency needs are needs that motivate people when they are
Economic circumstance modifies a person’s buying unmet. These are the first four levels of the pyramid, from the bottom
behaviour. For example, if you have low income, you would purchase going to the top: Physiological needs (food, water, warmth, rest)

STA. LUCIA ACADEMY - 09693239648 Page | 8

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

and safety needs (security, safety) make up the first and second levels who make use of the current hashtags, trends, or fads are often
of the pyramid. These are also known as the basic deficiency needs. noticed.
Belongingness and love (relationships, friends) and esteem needs
(prestige and sense of accomplishment) are the third and fourth layers Learning changes individual behavior as the person progresses in
of the pyramid also known as psychological deficiency needs. The life through the acquisition of knowledge, information, and experience.
growth need is the top need known as self-actualization or the You learn not to touch hot objects if you have been burned. You learn
achievement of one's full potential, including creative activities. To that the color RED often means STOP, while GREEN means GO.
further illustrate, a person who has not met his or her physiological
need for food (i.e., the person is hungry) will be motivated to find Belief and attitude is what a person sees and accepts to be true,
something to eat. Business owners make the most out of these needs right, and valued that came out from the influence of his or her social
by appealing to people's inherent desire to satisfy them; hence, sales, structure, experience, and learning. For example, you cannot force a
marketing, and advertising promotions are made to appeal to these feminist to purchase a product or service that is designed to appeal to
needs. misogynists.

For example, you are hungry, you want to eat fried chicken, but Synthesis
which one will you get: Sarap-to-the-bone goodness, Finger-lickin' In order to become a successful business owner, one would need to be
familiar with the law of supply and demand, as well as the buying behavior of his
good, or Crispy-licious and Juicylicious chicken? Or you would like to
or her consumers. Basically, this is in relation to knowing your consumer. Your
open a bank account, do you choose a bank that makes the best
market is your lifeblood. Who are you catering to? Will your product or service
happen, makes you feel that you deserve better, a bank that finds
have a market? Will the price of the product or service appeal to your market?
ways, or one that makes you feel that you're in good hands? Are you a frontrunner or do you have competition? How is your competition
faring? If your competition is lagging, where are they missing out? What is it that
Perception means of understanding, interpreting something. It is they are doing wrong so that you can avoid it? What makes your customer tick? A
how we see things. Companies need to break through how consumers successful business owner is never complacent. A successful business owner
usually perceive things and bring something to their attention. In the always has his or her ear to the ground and knows the pulse of the market
digital age, it is both easy and difficult to bring things to the forefront competition wise or customer wise.
of our minds. For example, when browsing the Internet, banner or
pop-up advertisements are often seen as an annoyance so most ads References:
get ignored because of this. Same thing when on the Internet, our
interests are piqued by whatever is "#trending," and so companies

STA. LUCIA ACADEMY - 09693239648 Page | 9

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

VI. PRACTICE

Name: __________________________________________________________________________________________________

Grade & Section: ________________________________________________________________________________________

After studying basic accounting, banking, and economic concepts, how are you going to make your business grow (business you identified in the
pre-assessment/motivation) and improve it? Answer the following questions.

1. Who are the target audience of your business and why?

____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

2. What are the strengths and possible weaknesses of your business?

____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

STA. LUCIA ACADEMY - 09693239648 Page | 10

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

VI. PRACTICE

Name: __________________________________________________________________________________________________

Grade & Section: ________________________________________________________________________________________

Instruction: Define the following terms.

1. Accounting
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

2. Assets
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

3. Liabilities
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

4. Balance sheet
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

5. Loans
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

STA. LUCIA ACADEMY - 09693239648 Page | 11

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

VI. PRACTICE

Name: __________________________________________________________________________________________________

Grade & Section: ________________________________________________________________________________________

Instruction: Answer the following questions.

1. How does the bank operate and earn money?

____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

2. What is the difference between a savings account and a time deposit account?
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

3. Which is more advisable to use, a secured loan or an unsecured loan? Explain your answer.
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

4. What is the law of supply and demand?

____________________________________________________________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________________________________________________________

STA. LUCIA ACADEMY - 09693239648 Page | 12

1 BUSINESS ENTERPRISE SIMULATION 1
1 1
MODULE 3: Money Talk and How to Start a Business and the Business Plan Key Concepts from the ABM Strand Subjects Weeks 5 and 6 (3rd Quarter)

____________________________________________________________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________________________________________________.

STA. LUCIA ACADEMY - 09693239648 Page | 13