m7 Flashcards
refer to institutions that are organized by private individuals or groups for the purpose of providing services to the members of society.
Non-state institutions
These institutions are not controlled by the government but are regulated through laws and statutes of the state.
Non-state institutions
the ones providing the needs of the people that the government cannot provide
non-state institutions
have the primary role of promoting labor welfare and good industrial relations.
trade unions and cooperatives
are organizations comprising workers and laborers with common goals, purposes, and interests.
trade unions and cooperatives
They mostly concern employment relations, decency, and welfare
trade unions and cooperatives
are organizations that serve as bridges or intermediaries facilitating money flow in various transactions.
financial institutions
serve as links between the source of funds, the depositor, the fund user, and the borrower.
financial institutions
receive savings and deposits from their clients.
banks
These may be loaned out to borrowers.
banks
In what period and place did the bank started?
Renaissance period, Italy
old italian term for bank and its meaning
banca, table or bench
It provide a safe-keeping place for money and valuables of individuals. They also perform a role in settling payments and credit intermediation.
bank
This is the bank of all the banks in the Philippines.
Bangko Sentral ng Pilipinas
It is the bank responsible for the regulation, creation, and management of monetary supply in the country.
The Bangko Sentral ng Pilipinas
3 types of blanks
Commercial banks
Thrift
Rural
This accept savings deposits, check deposits, and time deposits.
Commercial
Bank of the Philippine Islands and Metrobank. What type of bank?
Commercial banks
are categorized into stock savings and loan associations, savings and mortgage banks, and private development banks.
Thrift banks
They consolidate the savings deposits of their members into a fund from which their members can draw loans with interest.
Thrift banks
They also accept deposits from the public and provide loans for small- and medium-scale enterprises.
Thrift banks
cater primarily to farmers and small business people, mostly in rural areas.
rural banks
is an organization of people legally bound by a charter to conduct some type of business
corporation
are written applications to the government requesting to form a corporation
articles pf incorporation
It has a legal entity separate from its owners and the type of business that it wants to venture into depends on its articles of incorporation.
corporation
This will give the name, address, and type of business for the corporation; the names of the officers, and the initial amount of money being put into the business.
articles of incorporation
voluntary organization of people who have agreed to pool their resources together to undertake an economic enterprise to meet their everyday needs.
cooperative
something that they democratically manage, controls, and shares the economic benefits through participation and patronage (Cooperative Development Authority, CDA).
cooperative
voluntary associations of employees, employers, or independent workers to protect their interests and become an instrument of defense against exploitation and maltreatment.
trade unions and labor unions
Promotes thriftiness among its affiliates, and creates funds to grant loans for a productive endeavor of members
credit cooperative
Procures and distributes commodities to members and non-members
consumer cooperative
Undertakes joint agricultural or industrial production
producer cooperative
Participates in the supply of production inputs to constituents, and markets their products
marketing cooperative
Engages in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric lights and power, communication, and other services
service cooperative
