Activity Directions. Read and analyze the situation below, then answer the questions that follows: For Lifetime Protection and Life Insurance, Mr. Garcia has been insured to an insurance company, since 2015.The bank agents called him up over the phone informing him that his insurance was already paid off and can be availed anytime. After 1 week of transactions Mr. Garcia has redeemed two hundred thousand pesos (P200 000.00). The bank took 3% of the Total Cash Value as Processing Fee. Since in his barangay where he is currently residing was in the state of MCQ. He decided to purchase the goods that are in demand and basic needs of his family. He wanted to buy products which are essentials to their daily living while staying at home. Some of his purchase are goods like rice, vegetables, fruits, fish, meat, milk, biscuits, and household products such as cooking oil, shampoo, soap, lotion and others. He also buys school supplies needed for his children. His money left was save in the bank. 1. Did Mr. Garcia spend his money wisely? Why? 2. What are the goods he bought considered as basic needs? 3. If you were Mr. Garcia, how will you spend your money? 4.Would you do the same? 5. Why, or why not?​