UCSP|LESSON 1

Question 1

• organized by private
  individuals/groups for the
  purpose of providing services to
  the members of society.
• Not controlled by the
  government but regulated
  through laws and statutes of the
  state have vital roles in the
  economy: the ones providing the
  needs of the people that the
  government cannot provide
  corresponding price/payment is
  needed in exchange for services.

Answer 1

NON-STATE INSTITUION

Question 2

• Financial institution licensed to
  provide several financial services to
  different types of customers.

Answer 2

BANK

Question 3

TYPES OF BANKING

Answer 3

RETAIL BANK
INVESTMENT BANK
COMMERCIAL BANK
AGRICULTURAL BANK

Question 4

• A type of bank that provides
  financial services to individuals
  and small businesses.
• Focuses on consumers or the
  general public as its customers.
  One’s personal bank accounts, like
  checking and savings accounts, are
  usually in a retail bank.
• Retail banks can be considered to
  be the most common and
  widespread of all the types of
  banks.

Answer 4

RETAIL BANK

Question 5

• A type of bank that provides
  financial services to corporations
  and institutional investors.
• Provide medium and long-term
  loans and deposits to business
  industries.

Answer 5

INVESTMENT BANK

Question 6

• A type of bank that provides a wide
  range of financial services to
  businesses and consumers.
• Same services as a retail bank but
  it focuses on businesses and
  businessmen as its main customers
• Provide short-term loans for
  businessmen to be used for
  investment purposes.

Answer 6

COMMERCIAL BANK

Question 7

• A type of bank that provides
  financial services to farmers and
  agribusinesses.
• Caters to the financial needs of
  farmers and the farming industry
• Provide short-term and long-term
  loans to facilitate agricultural
  activities loans from this type of
  bank are used for buying seeds,
  fertilizers, land, or any materials
  needed for farming.

Answer 7

AGRICULTURAL BANK

Question 8

s an organization
created by a group of people
known as shareholders. It is legally
recognized as a single entity with
the rights, privileges, and
responsibilities of an individual.

Answer 8

CORPORATIONS

Question 9

TYPES OF CORPORATIONS

Answer 9

BUSINESS CORPORATION
NON-PROFIT CORPORATION
C-CORPORATION
S-CORPORATION

Question 10

• Created to operate and generate
  profit.
• McDonald’s and Starbucks are
  examples

Answer 10

BUSINESS CORPORATION

Question 11

• Established with the purpose of
  serving the public rather than
  pursuing profits.
• UNICEF and the American Red
  Cross are examples

Answer 11

NON-PROFIT CORPORATION

Question 12

• A corporation whose income is
  taxed through the corporation
  itself.
• Apple Inc. and Google Inc. are
  examples

Answer 12

C-CORPORATION

Question 13

• Is taxed through its shareholders.
• S-corporations have a maximum of
  100 shareholders, while
  C-corporations have no limit.
• Adobe Inc

Answer 13

S-CORPORATION

Question 14

• mainly structured to benefit its
  members and to satisfy its
  members’ needs
  usually
  join together to achieve a
  specific objective (usually
  benefits the members of the
  organization itself)

Answer 14

COOPERATIVES

Question 15

provide products and
commodities needed by people.
A __________ may put up a
supermarket to satisfy this necessity for
certain products.

Answer 15

consumer cooperative`

Question 16

7 PRINCIPLES TO CHARACTERIZE A
COOPERATIVE

Answer 16

VOLUNTARY AND OPEN MEMBERSHIP
DEMOCRATIC MEMBER CONTROL
MEMBER ECONOMIC PARTICIPATION
AUTONOMY AND INDEPENDENCE
EDUCATION. TRAINING AND
INFORMATION
COOPERATION AMONG
COOPERATIVES
CONCERN FOR THE COMMUNITY

Question 17

• Cooperatives are open to all
  people who can use their
  services and are willing to accept
  the responsibilities of
  membership.
• This means that cooperatives
  should not discriminate against
  anyone based on their gender,
  social status, race, political beliefs,
  or religion.

Answer 17

VOLUNTARY AND OPEN MEMBERSHIP

Question 18

• Cooperatives are controlled by
  their members, who have a say in
  setting policies and making
  decisions.
• This means that members should
  have equal voting rights and should be able to participate in the
  governance of their cooperative

Answer 18

DEMOCRATIC MEMBER CONTROL

Question 19

• Members contribute to the capital
  of their cooperative and share in
  the profits.
• This means that members should
  have a say in how the
  cooperative’s money is used and
  should receive a fair return on their
  investment.

Answer 19

MEMBER ECONOMIC PARTICIPATION

Question 20

• Cooperatives are self-governing
  and independent from outside
  interference.
• This means that cooperatives
  should not be controlled by
  governments or other
  organizations.

Answer 20

AUTONOMY AND INDEPENDENCE

Question 21

• Cooperatives provide education
  and training to their members,
  elected representatives, managers,
  and employees.
• This means that cooperatives
  should help their members to
  understand their rights and
  responsibilities and should
  provide them with the skills they
  need to participate in the
  governance of their cooperative.

Answer 21

EDUCATION TRAINING AND
INFORMATION

Question 22

• Cooperatives work together to
  promote the cooperative
  movement.
• This means that cooperatives
  should share information and
  resources with each other and
  should work together to advocate
  for the interests of cooperative
  businesses.

Answer 22

COOPERATION AMONG
COOPERATIVES

Question 23

• Cooperatives are committed to the
  sustainable development of their
  communities.
• This means that cooperatives
  should take into account the
  social, economic, and
  environmental impacts of their
  activities and should work to
  improve the quality of life in their
  communities.

Answer 23

CONCERN FOR THE COMMUNITY

Question 24

5 TYPES OF COOPERATIVE

Answer 24

CREDIT COOPERATIVE
CONSUMER COOPERATIVE
PRODUCER COOPERATIVE
SERVICE COOPERATIVE /
WORKER COOPERATIVE
MULTI-PURPOSE COOPERATIVE

Question 25

• Provides financial services to its
  members, including securing
  savings and creating funds to be
  used for issuing loans.

Answer 25

CREDIT COOPERATIVE

Question 26

• Operates mainly to obtain and
  distribute products and
  commodities to its customers,
  both members and
  non-members.

Answer 26

CONSUMER COOPERATIVE

Question 27

• Aids those in the sector of
  production, either agricultural or
  industrial.
• A subtype of a producer
  cooperative is agricultural
  cooperatives which help
  producers or farmers in marketing
  their crops as well as in purchasing
  supplies needed for further
  production

Answer 27

PRODUCER COOPERATIVE

Question 28

• Concentrates on helping workers in
  the service-oriented occupations
  (i.e. health care, transportation,
  labor) by creating employment
  opportunities and other benefits to
  its members

Answer 28

SERVICE COOPERATIVE /
WORKER COOPERATIVE

Question 29

• Undertakes two or more functions
  of different cooperatives.
• For example, multi-purpose
  cooperative could act as a
  consumer cooperative and
  establish a supermarket. At the
  same time, it could also provide
  financial services like a credit
  cooperative.

Answer 29

MULTI-PURPOSE COOPERATIVE

Question 30

Primary role: promoting labor welfare and
good industrial relations
- Comprised of workers and laborers
with common goals, purposes,
and interests
- Deal with employment relations,
decency & welfare

Answer 30

TRADE UNIONS AND COOPERATIVES

Question 31

• Organizations that serve as
  bridges/intermediaries that
  facilitate the flow of money in
  various transactions
• serve as links between the source
  of funds, the depositor, the fund
  user and the borrower

Answer 31

FINANCIAL INSTITUTIONS

Question 32

• An organization with a membership
  composed of workers or
  employees from related fields,
  which aim to represent the
  interests and rights of its
  members, both in the workplace
  and in the society.
• Voice of the workers to the
  management; they serve as link
  between employees and their
  employers.
• Work to improve certain issues
  like wage adjustment, good working
  environment, and rewards and
  other benefits.
• Created to protect the labor force
  of the country
• Examples Kilusang Mayo Uno,
  Sentro ng mga Nagkakaisa at
  Progresibong Manggagawa and the
  Trade Union Congress of the
  Philippines.

Answer 32

Trade Union

Question 33

TYPES OF TRADE UNIONS

Answer 33

GENERAL UNION
INDUSTRIAL UNION
CRAFT UNION
WHITE-COLLAR UNION

Question 34

• Represents workers from all
  industries and companies, rather
  than just one organization or a
  particular sector.
• An example of this type of union is
  a trade union of drivers, janitors
  and office workers.

Answer 34

GENERAL UNION

Question 35

• Composed of workers from one
  particular industry, across
  different levels of the hierarchy.
• A trade union of all employees who
  work in the mining industry (with
  different levels and positions) is an
  example of an industrial union.

Answer 35

INDUSTRIAL UNION

Question 36

• Seeks to represent skilled workers
  doing the same work who may be
  employed in different industries.
• A craft union of carpenters is one
  example.
• On average, the hourly pay of a
  construction worker in the capital
  is around 100 pesos (if regulated)
• PAMALAKAYA a fisherfolk union,
  the most published

Answer 36

CRAFT UNION

Question 37

• Composed of professionals doing
  similar jobs across different
  industries.
• A trade union of teachers and
  professors is an example of a
  white-collar union.
• ACT (Alliance of Concerned
  Teachers)

Answer 37

WHITE-COLLAR UNION