Ucsp 2

• Non-state institutions refer to institutions that are organized by private individuals or groups for the purpose of providing services to the members of society. These institutions are not controlled by the government but are regulated through laws and statutes of the state.
• Trade unions and cooperatives have the primary role of promoting labor welfare and good industrial relations. Trade unions and cooperatives are organizations comprising workers and laborers with common goals, purposes, and interests. They mostly concern employment relations, decency, and welfare
• Financial institutions are organizations that serve as bridges or intermediaries that facilitate the flow of money in various transactions.
• Banks receive savings and deposits of their clients. These may be loaned out to borrowers.
• Banks provide safe-keeping place for money and valuables of individuals. They also perform a role in settling payments and credit intermediation.
• Bangko Sentral ng Pilipinas is known as the banks of all banks in the Philippines. It is the bank responsible for the regulation, creation, and management of monetary supply in the country.
• 3 types of banks

  Commercial banks

  Thrift banks

  Rural banks
• Commercial banks accept savings deposits, check deposits, and time deposits. Examples of Philippine commercial banks are Bank of the Philippine Islands and Metrobank.
• Thrift banks are categorized into stock savings and loan associations, savings and mortgage banks, and private development banks. They consolidate the savings deposits of their members into a fund from which their members can draw loans with interest. They also accept deposits from the public and provide loans for small- and medium-scale enterprises.
• • Rural banks cater primarily to farmers and small business people, mostly in rural areas.
• corporation is an organization of people legally bound by a charter to conduct some type of business.
• Articles of incorporation are written applications to the government requesting permission to form a corporation.
• cooperative is a voluntary organization of people who have agreed to pool their resources together to undertake an economic enterprise to meet their everyday needs.
• Trade unions or labor unions are voluntary associations of either employees, employers, or independent workers to protect their interest and become an instrument of defense against exploitation and maltreatment.
• Credit cooperative Promotes thriftiness among its affiliates, and creates funds to grant loans for productive endeavour of members.
• Consumer cooperative Procures and distributes commodities to members and non-members.
• Producer cooperative Undertakes joint agricultural or industrial production .
• Marketing cooperative participates in the supply of production inputs to constituents, and markets their products.
• Service cooperative Engages in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric lights and power, communication, and other services
• Formal education happens inside a classroom and facilitated by a professional teacher. It is a classroom-based, structured, and sequentially graded system. It includes primary, secondary, undergraduate, and graduate schools.
• Non-formal education is any learning experience or training outside the organized formal system. This type of teaching may include attending seminars, workshops, and communitybased sports program. Unlike formal education which is based on concrete structure or curriculum, non-formal education follows less structured guidelines.
• Self-actualization, in Abraham Maslow’s Hierarchy of Needs, is considered as the highest level of human

  need. It is becoming everything that one is

  capable of.
• Self-actualization is manif- estedwhen individuals experience real and passionate joy and wonder.
• Productive citizens are those who work and maximize their pot entials and skills. They are those contribute to the realization of individuals and collective success.
• advantages of corporations as business organizations in the economy: • easy to raise funds–since the corporate form is the most effective for raising money • limited liability–the concept that owners of the business are only responsible for its debts up to the amount they invest in the business • unlimited life–not ceasing to exist if a major stockholder dies • specialized management–affording to have specialized managers to run the business • shared risks–spreading business risks among many owners
• disadvantages of corporations as business organizations in the economy: • difficult to start–needs government approval before starting the business • less direct control–owners that are usually far from the day-to-day operation of the business • double taxation–corporate taxes that need to be paid by the corporation and the owner who received dividends from the profit • limited activities–limited activities by the article of incorporation