Economic Institution

Question 1

which can be viewed as a social institution organized around production, consumption and distribution of goods and services

Answer 1

ECONOMY

Question 2

It operates in generally predictable manner.

Answer 2

ECONOMY

Question 3

Primarily consists of taking directly from earth and using without much processing, as in hunting, gathering, farming, and mining

Answer 3

PRODUCTION

Question 4

Involves making something from raw materials, such as pottery, automobiles, or nuclear weapons

Answer 4

PRODUCTION

Question 5

Involves providing assistance and information and cover activities from baby-sitting to international banking, to sports to entertainment

Answer 5

PRODUCTION

Question 6

means that giving of gifts obligates the recipient to return something similar value

Answer 6

RECIPROCITY

Question 7

it will require a centralized government with its rulers to collect taxes and demand payments and decide how to allocate this wealth in order to maintain their own power.

Answer 7

REDISTRIBUTION

Question 8

in which the worth of any item depends on how much others are willing to pay for it, which in return, depends on how many other buyers and sellers there are in the marketplace

Answer 8

FREE MARKET SYSTEM

Question 9

A bank transfer lets you move money from one bank account to another. It’s usually instant, free and done using mobile or online _____, over the phone or in branch.

Answer 9

banking

Question 10

A deed is the legal document that transfers legal title of real estate from one person or entity to another.

Answer 10

REAL ESTATE

Question 11

means a transfer of a receivable by agreement, or the creation of a right in a receivable by agreement, to secure payment or other performance of an obligation, regardless of the way in which the parties have described the transaction, the status of the transferor or transferee

Answer 11

SECURITY TRANSFER

Question 12

The exchange of goods and services through a market.

Answer 12

MARKET TRANSACTION

Question 13

provide the basic data used at the Bureau of Economic Analysis to begin the estimation of GDP

Answer 13

MARKET TRANSACTION

Question 14

An establishment not owned and controlled by the government

Answer 14

NON-STATE INSTITUTIONS

Question 15

Place or institution where people place or deposit their money or savings with corresponding interest on a given period of time, or assets for safekeeping.

Answer 15

BANKS

Question 16

Is a legal entity owned and democratically controlled by its members Members have a close association as producers and consumers of its product

Answer 16

COOPERATIVES

Question 17

3 main function banks:

Answer 17

1. Banks are depository of savings.
2. Banks are largely responsible for the payment system
3. Banks issue loans to both People and companies

Question 18

group of people authorized to act as single entity and recognized by the law as ________

Answer 18

Corporation

Question 19

ability to issue stock; owners are stockholders (for profit)

Answer 19

STOCK CORPORATIONS

Question 20

Owners are members of the Corporation (not-for-profit)

Answer 20

NON-STOCK CORPORATIONS

Question 21

7 Coorperatives Principles

Answer 21

1 Voluntary and open membership
2. Democratic member control
3. Economic participation by members
4. Autonomy and independence
5. Education, training and information
6. Cooperation among cooperatives
7. Concern for community

Question 22

Consist of workers and union leaders, united to protect and promote their common interest

Answer 22

TRADE UNIONS

Question 23

represents of only one company and no connection with the other unions (house union)

Answer 23

COMPANY UNION

Question 24

thick represents workers from several companies in the same industry. (industrial union)

Answer 24

GENERAL UNION

Question 25

represents skilled workers in a particular field such as carpentry or welding

Answer 25

CRAFT UNION

Question 26

Purpose of Trade Unions

Answer 26

1.Negotiate wages and working conditions
2. Regulate relations between workers and employer
3. Take collective action to enforce the terms of collective bargaining
4. Raise new demands on behalf of its members
5. Help settle their grievances

Question 27

Biggest confederation of labor federations in the Philippines

Answer 27

TRADE UNION CONGRESS OF THE PHILIPPINES (TUCP)

Question 28

Issues that motivates advocacy networks

Answer 28

1.Human rights
2. Consumer rights
3. Women’s rights
4. Environmental rights
5. International peace

Question 29

They campaign on behalf of principled causes, sets of values and ideas, vulnerable constituencies or environments. provides a voice for civil society

Answer 29

ADVOCACY GROUPS

Question 30

An organization with an international membership, scope or presence

Answer 30

INTERNATIONAL ORGANIZATION

Question 31

international non-profit organizations and worldwide companies such as World Organization of the Scout Movement, Int’l Com one of the Red Cross.

Answer 31

INTERNATIONAL NON-GOVERNMENTAL ORGANIZATION

Question 32

also known as International Governmental Organizations (IGOS), an organization composed primarily of sovereign states, or of other intergovernmental organizations. IGOs are established by treaty or other agreement that acts as a charter creating the group.

Answer 32

INTERGOVERNMENTAL ORGANIZATIONS