UCSP|LESSON 1 Flashcards
1
Q
- 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.
A
NON-STATE INSTITUION
2
Q
- Financial institution licensed to
provide several financial services to
different types of customers.
A
BANK
3
Q
TYPES OF BANKING
A
RETAIL BANK
INVESTMENT BANK
COMMERCIAL BANK
AGRICULTURAL BANK
4
Q
- 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.
A
RETAIL BANK
5
Q
- A type of bank that provides
financial services to corporations
and institutional investors. - Provide medium and long-term
loans and deposits to business
industries.
A
INVESTMENT BANK
6
Q
- 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.
A
COMMERCIAL BANK
7
Q
- 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.
A
AGRICULTURAL BANK
8
Q
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.
A
CORPORATIONS
9
Q
TYPES OF CORPORATIONS
A
BUSINESS CORPORATION
NON-PROFIT CORPORATION
C-CORPORATION
S-CORPORATION
10
Q
- Created to operate and generate
profit. - McDonald’s and Starbucks are
examples
A
BUSINESS CORPORATION
11
Q
- Established with the purpose of
serving the public rather than
pursuing profits. - UNICEF and the American Red
Cross are examples
A
NON-PROFIT CORPORATION
12
Q
- A corporation whose income is
taxed through the corporation
itself. - Apple Inc. and Google Inc. are
examples
A
C-CORPORATION
13
Q
- Is taxed through its shareholders.
- S-corporations have a maximum of
100 shareholders, while
C-corporations have no limit. - Adobe Inc
A
S-CORPORATION
14
Q
- 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)
A
COOPERATIVES
15
Q
provide products and
commodities needed by people.
A __________ may put up a
supermarket to satisfy this necessity for
certain products.
A
consumer cooperative`
16
Q
7 PRINCIPLES TO CHARACTERIZE A
COOPERATIVE
A
VOLUNTARY AND OPEN MEMBERSHIP
DEMOCRATIC MEMBER CONTROL
MEMBER ECONOMIC PARTICIPATION
AUTONOMY AND INDEPENDENCE
EDUCATION. TRAINING AND
INFORMATION
COOPERATION AMONG
COOPERATIVES
CONCERN FOR THE COMMUNITY
17
Q
- 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.
A
VOLUNTARY AND OPEN MEMBERSHIP
18
Q
- 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
A
DEMOCRATIC MEMBER CONTROL
19
Q
- 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.
A
MEMBER ECONOMIC PARTICIPATION
20
Q
- Cooperatives are self-governing
and independent from outside
interference. - This means that cooperatives
should not be controlled by
governments or other
organizations.
A
AUTONOMY AND INDEPENDENCE
21
Q
- 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.
A
EDUCATION TRAINING AND
INFORMATION
22
Q
- 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.
A
COOPERATION AMONG
COOPERATIVES
23
Q
- 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.
A
CONCERN FOR THE COMMUNITY
24
Q
5 TYPES OF COOPERATIVE
A
CREDIT COOPERATIVE
CONSUMER COOPERATIVE
PRODUCER COOPERATIVE
SERVICE COOPERATIVE /
WORKER COOPERATIVE
MULTI-PURPOSE COOPERATIVE
25
- Provides financial services to its
members, including securing
savings and creating funds to be
used for issuing loans.
CREDIT COOPERATIVE
26
- Operates mainly to obtain and
distribute products and
commodities to its customers,
both members and
non-members.
CONSUMER COOPERATIVE
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
PRODUCER COOPERATIVE
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
SERVICE COOPERATIVE /
WORKER COOPERATIVE
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.
MULTI-PURPOSE COOPERATIVE
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
TRADE UNIONS AND COOPERATIVES
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
FINANCIAL INSTITUTIONS
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.
Trade Union
33
TYPES OF TRADE UNIONS
GENERAL UNION
INDUSTRIAL UNION
CRAFT UNION
WHITE-COLLAR UNION
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.
GENERAL UNION
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.
INDUSTRIAL UNION
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
CRAFT UNION
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)
WHITE-COLLAR UNION
