MODULE 7 Flashcards
(10 cards)
What are the factors affecting income inequality in the Philippines?
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Answer:
Economic Policies – Certain policies can benefit specific industries while disadvantaging others.
Globalization – Opening the economy to international markets leads to uneven economic growth.
How does Foreign Direct Investment (FDI) affect income inequality?
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Answer: FDI can create jobs and stimulate economic growth, but it may also widen the gap between industries that attract investments and those that do not.
What role does microfinance play in poverty alleviation?
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Answer: Microfinance provides access to credit, savings, and insurance for low-income individuals who lack access to traditional banking services.
How does financial inclusion relate to microfinance?
🔹 Answer: Financial inclusion ensures that even marginalized communities have access to financial services, allowing them to participate in economic activities.
What is the impact of microfinance on empowerment?
🔹 Answer: Microfinance enables financial independence, especially for women, by providing them with the means to start businesses and support themselves.
How does microfinance contribute to poverty alleviation?
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Answer: It helps poor households smooth consumption, invest in productive assets, and cope with financial challenges.
Why is entrepreneurship important for job creation?
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Answer: Entrepreneurship is a key driver of job creation, particularly in economies with high levels of unemployment or underemployment.
How does entrepreneurship help in income generation?
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Answer: It allows individuals to earn money by starting businesses and developing innovative ventures.
What role does innovation play in entrepreneurship?
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Answer: Entrepreneurs introduce new products, services, and business models that address unmet needs and solve societal challenges.
How do entrepreneurs contribute to society?
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Answer: Entrepreneurs drive economic growth, create jobs, foster innovation, and help reduce poverty through business ventures.
