Lesson 1 - 3 Flashcards by zel .

An __________ is the large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

economy

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Etymology of economy

Greek “Oikos” House; “Nemein” Manage;
Oikonomia - Household Management

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Transaction between two socially equal parties having the same status with regards to values of goods or services.

Reciprocity

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Who is the Sahlins’ Typology from?

Anthropologist Marshall Sahlins

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What are the three forms of reciprocity?

General Reciprocity, Balanced Reciprocity, Negative Reciprocity

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What is the order of sectors in the Sahlins’ Typology?

House, Lineage Sector, Village Sector, Tribal Sector, Inter-tribal Sector

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The ________ Reciprocity is the primary group.
- It is the inner most circle, House.
- There is no certain value.
- It is mostly about favors.

General Reciprocity

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The ________ Reciprocity is on the Village Sector.
- It is based on act.
- What you give is what you get.

Balanced Reciprocity

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The ________ Reciprocity is on the Inter-tribal Sector.
- There is no balance.

Negative Reciprocity

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It is the redistribution of income that is not matched by actual exchange of goods and services.

Transfers

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In this economic institution, you don’t expect returns or donations. It is one-way.

Transfers

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The modifications of the holdings of particular persons, collective agents, or groups, or changes in holdings by groups.

Redistribution

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In this economic institution, transfer can happen inside of it.

Redistribution

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It is the exchange of goods and services through a market, where buyers and sellers agreed on the price and quantity of goods and services to be bought and sold in a specific time and place.

Market Transaction

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What are the 7 types of markets?

Physical Market
Non Physical/Virtual Market
Auction Market
Black Market
Market for Intermediate Goods
Knowledge Market
Financial Market

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Type of market. Buyers physically meet the sellers and purchases the desired merchandise in exchange of money.

Physical Market

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Type of market. Buyers purchase goods and services through internet.

Virtual Market

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Type of market. Sellers sells his goods to one who is the highest bidder.

Auction Market

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Type of market. A setup where illegal goods like drugs and weapons are sold

Black Market

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Type of market. Markets sell raw materials required for the final production of other goods.

Market for Intermediate Goods

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Type of market. Which deals in the exchange of information and knowledge based products.

Knowledge Market

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Type of market. Dealing with exchange of liquid assets.

Financial Market

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What are the 3 types of financial market.

Stock Market, Bond Market, Foreign Exchange Market

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Type of financial market. By stocks/shares from one company. Doing so means that you are a shareholder of the company. High risks, High returns.

Stock Market

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Type of financial market. From government funds, usually offered by the government. Low risks, Low returns.

Bond Market

Type of financial market. Institution for the exchange of one country’s currency with that of another country. High risks, High returns.

Foreign Exchange Market

Market & State. an economic ideology that advocates for a classless society in which all property and wealth are communally-owned, instead of by individuals.

Communism

Market & State. It is an ideal state that no one has yet achieved. CUBA had almost done so. There is no private owner, everything is communal. Karl Marx and Friedrich Engels

Communism

Market & State. the means of production, distribution, and exchange are owned by the community as a whole rather than private individual.

Socialism

Market & State. To achieve a communist state, this is the first part. The factors of production are controlled by the government.

Socialism

Market & State. An economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.

Capitalism

Market & State. It is usually seen and perceived as a immoral act because it enslaves the workers.

Capitalism

__________ is a form of communism developed by Mao Zedong.

Maoism

Some countries such as Finland and Switzerland are both _____________ and _________ countries.

Capitalist & Socialist

What is another term for non-state institutions?

Non-state actors

It is broadly defined as international actors who are largely or completely autonomous from the state, emanating from civil society, market economy or political opportunities.

Non-state institutions (Non-state actors)

Some non-state institutions may still be handled by the ____________.

Government

It is a financial institution that receives deposits from the public and generates credit.

Banks

What is the central bank of the Republic of the Philippines?

Bangko Sentral ng Pilipinas (BSP)

The ______ of the Philippines along with other government members has discussed before appointing the head of the BSP.

President

What are the functions of BSP?

* It is the only bank that can produce money (permitted by the gov.) * Regulate/monitor the banks in the Philippines

It is a legal unit that is distinct from its owners. Moreover, a __________ has the right to enter contracts, loan and borrow money, hire employees, own assets, and pay taxes.

Corporation

In a corporation there are multiple _____________, multiple ___________.

“Multiple companies, multiple business”

Examples of corporation and their group of subsidiary. Guide: Ayala Corp., SM Investments Corp., JFC

Ayala Corp. - AyalaLand (ALI), Ayala Malls, BPI, Globe SM Investments Corp. - SM Development Corporation (SMDC), SM Supermarket, Banco De Oro (BDO), Goldilocks, 2GO JFC - Chowking, Mang Inasal, Greenwich, Red Ribbon, Jollibee

A corporation may act as an “________” kasi sila ang gumagastos at sila ang may land, loan, etc. at hindi ang investors o nagmamayari.

Entity

Ito ang bayad sa utang ng corporation in case of needs. It is a property or other assets that a business can use to secure a loan.

Business Collateral

Are SSS, Pag-IBIG, and PhilHealth under government companies?

YES

These are jointly owned enterprises engaging in the production or distribution of goods or services. __________ are usually operated by farmers or consumers for their mutual benefit.

Cooperatives

This refers to the distribution of earnings (often quarterly) by a cooperative/corporation to its shareholders.

Dividends (Dibidendo)

In _________, you may apply loan even if you are not a member of it. In ___________, you cannot.

Banks, Cooperatives

These consist of workforces who have come together to attain mutual goals like protecting the integrity of its trade, improving safety standards, achieving higher pay and benefits like health care, and retirement. Also called _________.

Trade unions or Labor unions

These groups are involved in social advocacy to promote principal causes, ideas, and values. Their goal is to give the powerless a voice in the domestic and international law-making body. Ex. about women’s rights or deforestation

Transnational Advocacy Groups

It is a voluntary group of individuals or organizations, usually not affiliated with any government, that is formed to provide services or to advocate a public policy.

Nongovernmental organization (NGO)

These are independent organizations whose goals are to help develop and support economic growth especially for the poor and marginal portion of the society. So, they may have opportunities for income and decent employment.

Development Agencies

These are agencies na pwedeng lumapit sa NGO for help.

Development Agencies

These are not-for-profit voluntary associations operating at the international, transnational, or global level, with members or participants from many countries. Ex. Red Cross

International nongovernmental organizations (INGOs)

There are two functions in education.

Manifest function and Latent function

It refers to the idea that a citizen may create opportunities to become productive which contributes to the betterment of the community.

Productive Citizenry

A person is described as this (a.) if what they do may help and contribute to other people, otherwise they are known as (b.)

a. Productive Citizen b. Good Citizen

In the ________ function of education, the only act is learning and emotions are not considered.

Manifest

In the _________ function of education, the acts considered are anything other than learning yet we still do it for its positive effects.

Latent

This idea refers to the fact that kung alin yung marami ang nagbebenefit, that is what you do or act on.

Utilitarianism

What are the 5 layers of Maslow’s Hierarchy of Needs (+ the 6th layer)

Physiological Needs, Safety Needs, Belongingness and Love Needs, Esteem Needs, Self-Actualization | Transcendence

Hierarchy of Needs. The basic needs for physical survival including food, water, livable environment, clothing, and shelter.

Physiological Needs - Layer I

Hierarchy of Needs. Feeling and being safe from harm from family members, strangers, or occupational hazards, and in health.

Safety Needs - Layer II

Hierarchy of Needs. this to families, school communities, etc. and this from family, friends, significant other, and sense of connection.

Belongingness and Love Needs - Layer III

Hierarchy of Needs. Respect from others and for self, pride, status, recognition, strength, freedom, and honor.

Esteem Needs - Layer IV

Hierarchy of Needs. Living to your highest potential and the desire to become the most that one can be. Being reflective and mindful of your thoughts.

Self-actualization - Layer V

Hierarchy of Needs. Fulfillment. Going beyond and always saying and doing the right things. Your sense of meaning.

Transcendence or Self-Transcendence - Layer VI

Hierarchy of Needs. Abraham Lincoln have achieved this level of need.

Self-actualization - Layer V

Hierarchy of Needs. Only Buddha (Siddhartha Gautama) has achieved this level of need.

Transcendence - Layer VI

Who created the hierarchy of needs?

Abraham Maslow

Law for the right to education.

The 1987 Constitution of the Republic of the Philippines - Article XIV

Etymology of Religion

“Re” Again “Ligare” To connect

Some would say that God is these 3 ideas.

All Powerful (Omnipotent) All Knowing (Omniscient) All Good (Omnibenevolent) + Omnitemporal (nowhere and everywhere), Omnipresent (God is in the past, present, future)

“Religion is not faith, it is __________”

Culture

Religion. The natural world and its parts has a soul/spirit. Give 2 examples.

Animism; Jainism, Shintoism

Religion. Many God/Deity. Give Examples.

Polytheism; Hinduism, (Greek, Romans, Egypt gods)

What is the oldest religion?

Hinduism

Religion. One God. Give examples.

Monotheism; Christianity, Islam, Judaism

It is a systematically arranged and formally established religion.

Institutionalized Religion

An example of institutionalized religion:

Mainstream Christianity as it had (for ex.) an hierarchy of The Catholic Church.

Who are the Laity in the hierarchy of the Catholic Church?

The believers, the followers, or the catholics.

Difference of archbishops and bishops.

Archbishops overlook a larger area or land while bishops overlook smaller cities or places.

This is the process of interacting with the divine and is guided by written rules and regulation.

Codified Rituals (such as Baptism i think)

Separation of Church and State Act.

1987 Philippine Constitution Article III Section V

________ is unprovable, which makes it, from a philosophical perspective, not valuable.

Faith

Who said that “Religion answers all the unanswered questions of human existence”?

Emile Durkheim

Philosophy of Religion is Not:

* Believing whatever your parents taught you * The study of the bible

The diagram thingy for theist and atheist.

__________God Exist_____God Doesn’t Exist Theist _______/ ________________---- Atheist ______X________________-----

He offered a reason for believing in God (based on the diagram). Even if God’s existence is unlikely, the potential benefit of believing are so vast as the make betting on theism RATIONAL or CONVENIENT.

Blaise Pascal (1623 - 1662)

What did philosophers argue based on Blaise Pascal’s wager?

They mention that it would mean people will and currently believes in God only for convenience and benefit and NOT because of actual faith.