Learning Guide 7: Political and Economic Institutions (2nd Grading Period)

Question 1

It is a social institution that organizes the production, distribution, and consumption of goods and services.

An Economy is a large set of interrelated production and consumption activities that aid in determining how scarce resources are allocated. (According to Investopidia.com)

Answer 1

Economy

Question 2

It is any establishment who has a bearing on society, whether this institution business or not.

Institutions are repetitive patterns of interaction through which society undertakes certain functions. (King, 1976).

Answer 2

Economic Institution

Question 3

The Three Sets of Functions performed by Economic Institution:

Answer 3

1. Establishing and Protecting Property Rights
2. Facilitating Transactions.
3. Permitting Economic Co-operation and Organization.

Question 4

The Two Ways of How Economic Institution is formed:

Answer 4

1. Informal
2. Formal

Question 5

It is through repeated interaction between individuals or organizations.

Answer 5

Informal

Question 6

It is through deliberate design.

Answer 6

Formal

Question 7

It is the movement of resources from where they are found or produced.

Answer 7

Distribution

Question 8

It is the transfer of goods between individuals or groups.

Answer 8

Exchange

Question 9

The Three Types of Exchange or Systems of Distribution:

Answer 9

1. Reciprocity
2. Redistribution
3. Market Transactions

Question 10

It equally defines ___ as the system of exchange in which goods or services passed from one individual or group to another as gifts without the need for explicit contracting for a specific payment (Crapo, 1997).

Answer 10

Reciprocity

Question 11

The Three Types of Reciprocity:

Answer 11

1. Generalized Reciprocity
2. Balance Reciprocity
3. Negative Reciprocity

Question 12

No expectation of immediate exchange for the given gifts.

Answer 12

Generalized Reciprocity

Question 13

Return Gift is expected within a relatively short time, to maintain good relations.

Answer 13

Balance Reciprocity

Question 14

It is for Personal Gain.

Answer 14

Negative Reciprocity

Question 15

An exchange system wherein commodities are contributed by all members of a social group to a common pool from which they are often distributed to where they will be used,

Answer 15

Redistribution

Question 16

It is a place where direct exchanges of commodities occur.

It refers to a Group of Buyers (Group that determines the Demand of the Product.);

And Sellers (Group that determines the Supply of the Product.) of a particular commodity.

Answer 16

Market

Question 17

It may occur freely in any society but in a most developed society where large numbers of people are involved, marketplace are found convenient to carry out the exchange.

A ___ may involve goods, services, information, currency, or any combination of these that pass from one party to another.

Answer 17

Market Transaction

Question 18

Requirement to Perform Market Exchange (Peoples and Bailey);

Answer 18

1. Some of the objects used as a Medium Exchange.
2. A Rate of good exchange for money.
3. Parties exchange who have alternative buyers or sellers and are free to make the best deal for them.

Question 20

Are social institutions that are constructed in culturally specific ways.

Answer 20

Market

Question 21

It is a political organization that possesses sovereign jurisdiction within define territory and exercises its power through a set of a permanent institution.

Answer 21

State

Question 22

Are common to democratic states which recognizes the participation of the public in the political process that directly affects the citizen’s lives.

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.

Answer 22

Non-State Institutions

Question 23

Types of Non-State Institution:

Answer 23

1. Banks
2. Corporation

Question 24

It is a financial institution licensed to provide several financial services to different types of customers.

Answer 24

Banks

Question 25

This process of taking in deposits and lending them to customers in need.

This means that the bank serves as a connecting link between depositors and borrowers of money.

Answer 25

Financial Intermediation

Question 26

It is an organization, created by a group of people known as Shareholders, which is legally recognized to act as a single person in carrying out certain goals and objectives.

Answer 26

Corporation

Question 27

It is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations, through a jointly-owned and democratically-controlled enterprise. (According to the International Labor Organization (ILO)).

These are people-centered enterprises owned, controlled, and runny and for their members to realize their common economic, social, and cultural needs and aspirations. (Guy Ryder, ILO Director-General, International Day of Cooperatives, 2015).

Answer 27

Cooperatives

Question 28

10 Different Types of Cooperatives:

Answer 28

1. Credit Cooperative
2. Consumer Cooperative
3. Producers’ Cooperative
4. Marketing Cooperative
5. Service Cooperative
6. Mulit-Purpose Cooperative
7. Advocacy Cooperative
8. Agrarian Reform Cooperative
9. Cooperative Bank / Bank Cooperative
10. Education Cooperative

Question 29

It promotes and undertakes savings and lending services among its members.

Answer 29

Credit Cooperative

Question 30

It aims to procure and distribute commodities to members and non-members.

Answer 30

Consumer Cooperative

Question 31

The Producer Co-ops were one of the first kinds of Cooperative developed to explore and provide solutions to the farmers’ production in the early 1880s.

Producer Co-ops are also known as Marketing Co-op markets in a processed or value-added form.

Answer 31

Producers’ Cooperative

Question 32

It engages in the supply of the production inputs to members and markets their products.

Answer 32

Marketing Cooperative

Question 33

It engages in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication, professional and other services.

Answer 33

Service Cooperative

Question 34

It combines two or more of the business activities of these different types of cooperatives.

Answer 34

Multi-Purpose Cooperative

Question 35

It is a primary cooperative that promotes and advocates cooperativism.

Answer 35

Advocacy Cooperative

Question 36

It is organized by marginal farmers.

Covered by agrarian reform.

Answer 36

Agrarian Reform Cooperative

Question 37

It is one organized for the primary purpose of providing a wide range of financial services.

Answer 37

Cooperative Bank / Bank Cooperative

Question 37

It is organized for the primary purpose of owning and operating licensed educational institutions.

Answer 37

Education Cooperative

Question 38

They are a free-flowing and free relationship among knowledgeable and committed actors that aim to pursue some political, social or cultural goals.

Answer 38

Transnational Advocacy Grous

Question 39

Examples of Transnational Advocacy Networks:

Answer 39

1. Medicins Sans Frontiers (Doctors Without Borders)
2. Greenpeace

Question 40

It is a group of doctors that helps in providing medical support to areas that are struck by disaster or wars.

Answer 40

Medicins Sans Frontiers (Doctors Without Borders)

Question 41

It organized activists across the globe to lobby governments for stronger policies for the environment.

Answer 41

Greenpeace

Question 42

These are independent organizations shaped by public and private institutions with aim of implementing strategies of shared territorial development, with particular emphasis on favoring access to the most marginal portions of a population to opportunities of income and decent employment. (ILO, 2003).

Answer 42

Development Agencies

Question 43

4 Different Elements of the Development Agency:

Answer 43

1. Economic Roles
2. Leadership Roles
3. Governance and Coordination Roles
4. Implementation Roles

Question 44

It is where Development Agencies seek to build markets within their territories.

These roles include the Development Agency acting in risk and cost-sharing manner using entrepreneurial approaches.

Answer 44

Economic Roles

Question 45

It is where the Development Agency plays a key role in fostering a long term plan and vision for the territory, galvanizing the interests of multiple leaders and setting out a new.

Future around which resources can coalesce.

Answer 45

Leadership Roles

Question 46

It is where the Development Agency helps to facilitate Practical Coordination towards the pursuit of the development strategy.

Answer 46

Governance and Coordination Roles

Question 47

It is where the Development Agency can assemble dedicated and capable teams to focus solely on pursuing the development strategy.

Answer 47

Implementation Roles

Question 48

These are institutions that set rulers for nations and provide venues for diplomacy.

Answer 48

International Organizations

Question 49

Two Types of International Organizations:

Answer 49

1. International Governmental Organizations (IGOs)
2. Internation Nongovernmental Organizations (INGOs or NGOs)

Question 50

In recent years, ___ have also had a significant impact on the international system.

Answer 50

Multination Corporations (MNCs)