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Economics- is the study how to efficiently use and allocate of scarce resource to meet the
unending needs and maximum satisfaction of man .
Branches of Economics
a. Macro Economics- which deals with the whole economy It concerned about government
economic policy, business in macro scale and such issues as GNP/GDP, Employment/
Unemployment etc.
b. Micro Economics- which deals with the segment of national economy such as price,
commodities etc.
Division of Economics
Factors of Production
a. Land
b. Labor
c. Capital
d. Entrepreneur
Supply- is the flow of goods and services which the firms are willing or can make available in
the market at a given price schedule
Demand- is the relationship of market and the quantity demanded expressing how much of the
same commodity or services one consumer or all consumer would buy at a given price schedule
The supply is greater than demand the price of services or goods decreases in other hand if the
demand is greater than supply the price of goods and services increases and if the supply is equal
to the demand the price remain constant.
Market Models
Market- a place where consumer and producer meet bring supply and demand.
a. Pure Competition- There is considerable number of seller offering the same product.
b. Pure Monopoly- There is only one seller of a particular goods or services.
c. Monopolistic Competition- There is a fairly large number of small seller offering similar
but identical products
d. Oligopoly- There few seller offering same or differentiated goods and services.
Economic Syastem
1. Capitalism –the factors of production are owned and control by a private entity or
corporation.
2. Socialism- the government control vital industry and resources but allows small private
enterprise
3. Communism- the government owned and control all aspect of production and economic
activity.
Taxation
Taxation- is the act of levying, the process which the government through its law making body
raises revenue to pay its necessary expenses of the government.
Characteristic of Taxation
1. Proportionate in character
2. Person or Property
3. Enforced contribution
4. Generally payable in money
5. Levied by the State
6. Levied by the law
7. Levied by public purpose.
Classification
Cooperative
Cooperative Principles
Types of Cooperative
a. Credit Cooperative
b. Producers Cooperative
c. Consumers Cooperative
d. Marketing Cooperative
e. Service Cooperative
f. Multi-purpose Cooperative
Land Reform
Land Reform-refers to the full range of measures that may taken to improve the defects in the
realtion between : the tillers, land owner and employeein afarm with respect to their land.
Comprehensive Agrarian Reform Law of 1988 ( R.A # 6657)
“The redistribution of lands, regardless of crops or fruits produced, to farmer worker who are
landless,irrespective of tenurial arragemnet to include the totality of factors and support services
designed to lift the economis status of the beneficiaries and all other arrangements alternative to
the physical redistribution of land, such as production or profit sharing labor administration and
distribution of shares of stock which allows beneficiaries to receives a just share of fruit of the
land they work”
In general- The Comprehensive Agrarian Reform Law of 1988 covers, regardless of tenurial
agrrement and commodity produced, all public and private agricultural land including other
lands of the public domain suitable to agriculture.
In particular- More specifically the following land covered by the Comprehensive agrarian
Reform program
a. All alienable and disposable lands of the public domain devoted to or suitable for
agriculture
b. All lands of public domain( including forest or mineral lands reclassified to agricultural
lands after the approval of the Act) in excess of the specific limits as determined by
congress taking into account ecological development and equity consideration
c. All lands owned by the Government devoted to or sustainable for agriculture.
d. All private lands devoted to or suitable for agriculture regardless of agricultural product
raised or that can be raised thereon. Fishpond of land in which fish is produced or raised
tare agricultural land.
e. Schedule of implementation-The distribution of all lands covered by the Act shall
implemented immediately and completed within ten years from the effectively thereof.
Retention Limits
General rule- The size of any public or private agricultural land which a person may own or
retain directly or indirectly shall vary according to:
Exception
a. Landowner whose land have been by Presidential Degree No.27 shall be allowed to keep
the area originally retained by them thereunder
b. Original homestead grantees or their direct compulsory heirs who still own the original
homestead at the time of the approval of the Act shall retain the same areas as long as
they continue to cultivate said homestead.
Choose the letter of the best answers and write the letter in the space provided
1. What is the process by which the state raises income necessary for the expenses of the
government?
a. Tax payment c Taxation
b. Tax d. Tax exemption
2. BIR: internal collection, BOC:____
a. Excise collection c. Foreign Goods
b. Local tax d . Indirect Tax
3. Indirect tax: VAT, Direct tax:_____________
a. Income Tax c. Excise Tax
b. Sin Tax d Revenue Tax
4. Which best describe a cause of Agrarian related insurgencies?
a. Landless farmer oppress by rich landlord
b. Land reform is in adequate for landless farmers
c. Rural people tend to accept their situation.
d. Poor implementation of agrarian reform law
5. During the Spanish time, who owned much of the lands?
a. Enconmiendero b. Timawa/Freeman c. Babaylan d. Indio
6. National tax: National Government, Local tax:__________
a. Municipality b District c Barangay d BIR/ BOC
7. P. D 27 was known as________
a. Aquino Land Reform b. Macapagal land Reform c. Marcos land Reform d
Ramos Land Reform
8. What is the age requirement to inherit land under the CARL of 1988 ?
a. 17 b. 18 c. 14 d. 15
9. CARP: Farmers, Encomienda:__________
a. King’s reward b. Form of Tax c. Government d. State
10. Main goal of CARP
a. Land for all b Land for the poor c Land for the land less d. land for
development
11. What is the economic system which is the mixture of capitalist and communist
a. Barter b Capitalist c Oligapoly d Socialist
12. What is the branch of economic that deals with the whole economy?
a. Micro economics b Employment c. Macro economic dProduction
13. The land reform under the Marcos administration.
a. PD 26 b PD 27 c PD 28 d PD 29
14. Staple food among Filipinos_____
a. Sweet potato b Sugarcane c Corn d. Rice
15. Retention size for land owner under CARL
a. 8 hectares b 7 hectares c 5 hectares d6 hectares