A terrible quake with magnitude of 5.9 hit Cebu urban center on Tuesday, October 5, 2011, collapsing buildings and causing widespread panic passim the region. The quake of which the epicenter was approximately 30 km aside from the Bacolod swoop killed almost 6,000 flock and left more than 200,000 people homeless. The earthquake destroyed the farmlands, which is the primary source of resource and income. It caused a commodious ebb in the factors of production. Factors of products ar the inputs to create goods and go out work. This complicate land, which is all natural resources, labor (the workforce, they get paid), neat which sens be physical (equipment), human capital (acquired skills and cognition from facts of life and experience) and financial capital (the money that you need), entrepreneur and technology. The earthquake greatly come downs the physical capital. Damaged buildings would moderate to a huge rock-bottom of manufactured goods like firened goods. Moreover, hospitals, schools, restaurants and malls argon destroyed, which decrease the services provided. non only those, all of the materials were broken and at this here and now the government would focus more on providing relief procedure rather than buying new equipment.
This way that the lack of equipment would result to inefficient and less production. The earthquake too affects the farmlands across the region. Crops and trees are destroyed, which would result to scarcity of resources. Scarcity is when thither is limited tote up of goods and services to meet the demand. Not only that the field are damage that would probably plight! a long condemnation to be frigid. Due to the decrease of available resource and capital the PPC would shift down. A PPC (production orifice curve) is curve showing the uttermost combination of goods and services that can be produced from a fixed amount of resources in a given period of time.If you destiny to get a safe essay, order it on our website: OrderCustomPaper.com
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