week 5_Quarter 2- Applied Economics.pptx

This Ppt is very comprehensive....this can also be very useful for teacher like me who os struggling for strategy.

1. Applied Economics SOCIO-ECONOMIC FACTORS AFFECTING BUSINESS AND INDUSTRIES APPLIED ECONOMICS

2. MULTIPLE CHOICE: Write the letter of your choice on a separate sheet of answer. 1. What is a socio-economic factor? It is ____________________. a. An important characteristic that influences consumers. b. A business influence to society. c. A hindrance to economic growth. d. An appeal to observe health protocols. 2. What factor that influences the type of occupation that an individual or person can get? a. Education c. Profession b. Income d. Health 3. Who is considered to be the heart of the business? a. Shareholders c. Consumers b. Businessmen d. Government

3. 4. What determines how much a person can spend on a certain product or service? a. Business c. Employment b. Income d. Production 5. What attracts investors to the country and increase employment? a. Foreign direct investment c. Economic savings b. Economic growth d. Gross Domestic Output 6. What defines the quality of life in the society? a. Environmental c. Political b. Socio-economic d. Social

4. 7. What factor that in any cases involves in importation and exportation of various goods? a. Interest rates c. Recession b. Exchange rates d. Physical 8. What determines lending practices? a. Interest rates c. Recession b. Exchange rates d. Physical 9. What part of the general business analysis that pertains to the influence from outside and surroundings? a. Political c. Environmental b. Economics d. Technological

5. 10. What will help you make better decisions about the future and direction of your business? a. Environmental c. Political b. Socio-economic d. Social 11. What is one of the goals of change management? a. To obtain buy in from stakeholders b. To limit the effects of a change c. To keep the people involved to a minimum d. To reduce the time it takes to make a change 12. Which of the following is the most critical component of a business plan? a. Market analysis b. Company description c. Executive summary d. Financial plan

6. 13. Which of the following is a potential risk of implementing enterprise risk management software? a. Standardization of reporting b. More emphasis on risk c. Loss of data during transfer d. Less efficient use of resources 14. What is the cost of employing product inspectors? a. Appraisal cost b. Prevention cost c. Internal failure cost d. External failure cost 15. Which management functions lays the groundwork for all of the other management functions? a. Directing b. Organizing c. Staffing d. Planning

7. The tools and techniques used by businesses and industries are strategies to fulfill their vision and mission in a competitive market and raised them on a spot for market power. On a separate sheet of paper, give at least 2 most common tools or techniques used in the Philippines and provide a description of the chosen tools or techniques.

8. SOCIO-ECONOMIC FACTORS AFFECTING BUSINESS AND INDUSTRIES LESSON 1

9. “Our people can draw on the tremendous strides made in recent years, not only in terms of advancing themselves spiritually and materially, but also in having weathered social and economic turbulence, triggered, in the main, by factors not of their own creation.” Denzil Douglas

10. Based on the statement by Denzil Douglas, what do you think are those he referred to as social and economic turbulence? How significant it is to identify them? What does he meant by factors not of their own creation? Illustrate your answer or interpretation through a slogan. Prepare for a presentation during the synchronous class or submit a video of you presenting and discussing your output.

11. This lesson talks about the various socio-economic factors affecting businesses and industries. What are those factors that businessmen and company owners have to take into consideration and that at anytime maybe these factors will bring them down? Business is not only about investment, money, patience and hardwork but also it requires skills to maintain it in the competition arena. These socio-economic factors can help businesses decides as to what business strategy will be appropriate on a certain circumstances. What is Socio-Economics? Socio-Economics is a study of relationship between economic activity and social life. What is Social Economics? Social Economics is a specialized branch of Economics that concerns with studying the intimate relationship between economics and social behavior.

12. Before getting into the details of the socio-economic factors, an understanding of the social and economic problems might be a good help in this lesson. What are the social problems? Poverty – scarcity or lack of necessity, gives rise to various social issue. b. Illiteracy – inability to read and write probably due to lack of access or higher cost of education

13. SOCIAL PROBLEMS c. Corruption – primary reason behind economic instability d. Unemployment – no job or looking for a job probably due to a mismatch of skills and the market need.

14. SOCIAL PROBLEMS e. Health problems – probably due to lack of access to healthcare f. Child labor – children are bound to work to sustain life.

15. Productivity is a key driver of economic growth and changes in living standards. Labor productivity growth implies a higher level of output for unit of labor input (hours worked or persons employed). This can be achieved if more capital is used in production or through improved overall efficiency with which labor and capital are used together, i.e., higher multifactor productivity growth (MFP). Productivity is also a key driver of international competitiveness, e.g. as measured by Unit Labor Costs (ULC).

16. b. Income polarization – pertaining to income distribution of a nation, disproportionately moving towards a lower income part of the distribution.

17. c. Low inflation and low levels of wage growth – as inflation is nearing zero or even close to full employment, there is still little evidence for wage push.

18. d. Global cooperation – an act of countries working together in achieving their mission and vision but unexpectedly creates negative spillovers and thus increases tensions among countries.

19. Socio-Economic Factors (MICRO level):

20. 1. Environmental Analysis – this refers to the process of looking at the external socioeconomic issues in a business. It is considered a part of the general business analysis and is useful to the executives of the company.

21. 2. Economic Factors – essential part of the business because these are factors connected to money, goods and services. Other factors are: Interest rates – determines lending practices and also it is a good information for a company that relies on debt capital to finance ambitious projects. b. Exchange rates – it affects the ability of the company to pay especially those business involve in the exportation and importation of goods. c. Recession – a slowdown or a massive contraction in the economic activities. This may force companies to drop prices to stay afloat.

22. 3. Health Factors – determined by the environment and their circumstances like: a. Social status and Income – high social status and high income is positively related to health. It means that it predisposes better health for someone with high social status and high income. b. Educational level – higher level of education is directly related to health. The higher the education means more informed on diseases and its effects. c. Physical environment – the safer homes, health workplaces, clean air, safe drinking water, updated infrastructure determines better environment for business and health. d. Social support network – when individuals have a lot of support from family, friends and from the community predisposes to better individual, business and health.

23. Socio-Economic Factors (MACRO level):

24. 1. Demographics – pertaining to the study of the population based on the factors such as age, race and sex. In the Philippines, the National Statistics Coordination Board and other inter-related agencies like Philippine Statistics Office and Data Philippines.

25. 2. Economics – refers to the study of the allocation of scarce resources.

26. 3. Public Resources – refers to the assets or property owned by the state and not limited to land, buildings, facilities, equipment, funds, supplies, telephones, computers.

27. 4. Infrastructure – referring to the basic systems and services that a country needs in order to function and this requires a huge amount of initial investment and are essential for the enabling productivity of an economy.

28. 5. Land use – a term used to describe the human use of land may it be economic or cultural activities.

29. 6. Relocations – a term used to the availability of a space for a new place or to lay out in a new place but in business and economics it implies job or work relocation, corporate relocation or to a warehouse transfer.

30. In this time of pandemic, identify at least 5 socio-economic issues in the Philippines and cut out a picture describing your identified economic issue. Paste the picture on a separate sheet of paper with a caption. (One picture per page). What’s More?

31. In relation to your output in What’s More, write on a clean sheet of paper a one or two paged essay about the impact of the socio-economic issues (that you chose) to the Philippine business and economy as a whole. Follow the order (Introduction, Body/Content, Conclusion). What I Have Learned

32. In relation to your answer in What’s More and What I Have Learned, produce a survey questionnaire about the impact of socio-economic issues to the Philippine business and industries. Follow the format of producing a survey questionnaire from your quantitative research class.

33. Multiple Choice Questions: Write the letter of your choice on a separate sheet of paper. 1. What is referred to as disproportioned income distribution? a. Low productivity c. Income polarization b. Minimum wage d. Low income 2. What is referred to the utilization of land for space and business? a. Public resources c. Land use b. Urban planning d. Zoning 3. What global cooperation that the Philippines belonged to? a. Asia Pacific Economic Cooperation b. Pacific Trade Cooperation c. Southeast Asian Organization d. Asian Trade Union

34. 4. What is productivity in Economics? a. It refers to a higher level of output with minimum inputs. b. A key driver of economic growth. c. Manufacturing functional power. d. Maximum output and minimum input. 5. What socio economic factor that requires a huge amount of initial investment in order to function properly? a. Telecommunication b. Culture c. Health d. Infrastructure 6. Which government agency that collects data on demographics? a. Census and Population Commission b. National Statistics Commission c. National Economic Development Authority d. National Statistics Coordination Board

35. 7. What factors are included in the demographics? a. Section, year level and grades b. Age, sex and race c. Gender, ethnicity and income d. Economic status, gender preference, ethnicity preference 8. What do we call our support system? a. Social media network b. Social support network c. Social economic network d. Social facebook network 9. What causes the increase of tensions among countries? a. War c. Negative externalities b. Negative comments d. Non-cooperation

36. 10. What socio economic factor that businesses have to keep track in order for their business to stay afloat? a. Interest rates c. Land use b. Exchange rates d. Public Resources 11. What tool or technique that business executives rely on? a. Economic Analysis c. Environmental Analysis b. Social Economic Analysis d. Health Analysis 12. What does it mean by being educated entails better health? a. You are more informed about what medicine to buy if you are sick. b. You are more aware of the diseases and what it can do to your body. c. You know that prevention is better than cure. d. All of the above.

37. 13. Why is dropping of prices of goods and services during recession conspicuous? a. That is the only strategy that business can think of in order to compete. b. Because it is the trend. c. Better strategy for the business to stay afloat. d. All of the above. 14. What does it mean by a slowdown in the economic activity? a. Depression c. Business Cycle b. Recession d. Trough 15. Which firm or firms are affected by the exchange rates? a. Insurance companies c. Export-import firms b. Relocation companies d. Money remittance centers