Lesson: Contemporary Economic Issue Facing the Filipino Entrepreneur Flashcards

1
Q

It is purchase of goods
that are not consumed today but used in the
future to create wealth.

A

Investment in Economic

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2
Q

It is purchase of goods
that are not consumed today but used in the
future to create wealth.Is a monetary asset
purchased with the idea that the asset will provide income in the future or appreciate and be sold at a higher price.

A

Investment in Finance

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3
Q

Reasons why firms invest:

A

Investment may be required to replace worn out, or failing machinery, equipment, or building

Investment may be undertaken to purchase new machinery, equipment, or building in order to increase productive capacity.

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4
Q

Includes both types of investment spending but net investment only
measure new assets rather than replacement assets.

A

Gross Investment

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5
Q

Gross Investment - Depreciation

A

Net Investment

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6
Q

carries more significance, as it provides the basis for economic growth.

A

Net Investment

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7
Q

Main Determinants of Investment:

A

The Expected Return on the Investment
Business Confidence
Changes in National Income
Interest Rate
General Expectations
Corporation Tax
Level of Savings

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8
Q

happens when an increase in national income (GDP) results

A

Accelerator Effect

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9
Q

Status of Foreign Investment in the Philippines:

A

Foreign Investment in the Philippines is lagging behind.

Government should continue removing key infrastructure bottlenecks that have
limited the potential of various sectors of the economy, especially in the areas of industry and agriculture.

Investor face long list of challenges, including limited or poorly maintained roads on which to move goods.

Presidents are limited to a single six-year term and succeeding administrations have been known to repeal their predecessors’
work.

Joint Foreign Chambers

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10
Q

a coalition of the American, Australian-New Zealand, Canadian, European, Japanese and Korean chambers in the Philippines and the Philippine Association of Multinational Companies Headquarters Inc.

A

Joint Foreign Chambers

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11
Q

the biggest concern in
the Philippines, Inadequate public infrastructure, restrictive labor regulations,
supply inadequacy and high tariffs.

A

Corruption

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12
Q

Challenges for the Filipino Entrepreneurs:

A

Government Licensing and Permits

Prohibitive Rental Rates and other Clauses in Malls.

There are Many Who Have No Jobs

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13
Q

Current Problems of Filipino Entrepreneurs:

A

Inadequate access to technology

Financing Capital

Marketing Advice

Logistical problem in setting up and maintaining their competitiveness in their community

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14
Q

Types of Business Taxes:

A

Value Added Tax ( VAT )
Salary and Wage Taxes
Amusement Taxes
Excise Taxes
Import Taxes
Individual Income Taxes
Corporate Income Taxes
Real Estate Taxes
Estate or Inheritance Taxes

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15
Q

A 12% must be collected for almost all kinds of product sales, services, and leases

A

Value Added Tax ( VAT )

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16
Q

As a Business owner responsible to the welfare of your employee, you must withhold and remit to the proper government agencies employee income withholding taxes, SSS Premiums, Pag-ibig and Medicare.

A

Salary and Wage Taxes

17
Q

Cockpits, Movie houses, Clubs, Boxing Tournaments, Basketball games, Horse racing,
Carnivals and other amusement businesses.

A

Amusement Taxes

18
Q

A business that involves in the manufacture of alcohol, tobacco, and petroleum products, importing of automobile or jewelry and mining.

A

Excise Taxes

19
Q

As part of goods as part of your raw materials, Importation of industrial Machinery and Equipment.

A

Import Taxes

20
Q

Your income from a sole proprietorship business

A

Individual Income Taxes

21
Q

A business that is structure as a Corporation

A

Corporate Income Taxes

22
Q

Business that owns real estate or land

A

Real Estate Taxes

23
Q

When you passed away, your heirs pay inheritance taxes on money and property that
you have leave to them.

A

Estate or Inheritance Taxes

24
Q

Effect of High Taxes on Business:

A

Inadequate Incomes
Low Wages
High Prices
Substandard Products
Product Unavailability and Continuation
Poverty and High Crime

25
Q
A