Social Studies

• National Economic and Development Authority


  The country's primary socio-economic planning body
• Technology


  • One of the economic factors of growth and development
• Macroeconomic goals of the Philippines

  • Economic growth
  • High standard of living
  • Full employment
• Economic factors of growth and development

  • Human resources
  • Natural resources
  • Physical capital
• Economic development


  Economic growth sustained over a long period
• AmBisyon 2040


  Aims to have "matatag, maginhawa, at panatag na buhay"
• Bangko Sentral ng Pilipinas


  An agency that implements the monetary policies of the country
• Barter system


  A trading activity used by Filipinos before money was utilized
• Functions of money

  • Medium of exchange
  • Store of value
  • Standard of deferred payment
• Lydians


  A group of people who first used coins as a medium of exchange
• Banking system


  Developed in the Middle Ages which made the use of money and the conduct of business efficient
• Barter rings and piloncitos


  Developed as a medium of exchange in the Philippines during the Pre-Hispanic period
• Transactional motives


  (According to John Maynard Keynes) People desire money to satisfy their wants and needs
• Aspects that influence the implementation of fiscal policy

  • Taxes
  • Borrowing
  • Government spending
• Increase in aggregate demand


  An expansionary fiscal policy
• Fiscal policy


  The government implements it to keep prices and wages stable, reach a high rate of economic growth, and achieve and maintain full employment
• Unemployment


  Affects aggregate demand if fewer people working contributes to lower household final consumption expenditures
• Money


  Can be stored in banks and piggybanks without losing its value
• BSP


  Puts up coin-counting machines in identified malls for the convenience of the people