Exam Pointers
➢ Tax Structures
❖ Basic Principles of Demand and
Supply
➢ The market
➢ Demand
➢ The Law of Demand
➢ Nonprice Determinants of
Demand
➢ Shifts of the Demand Curve
➢ Supply
➢ Law of Supply
➢ Non-Price Determinants of
Supply
➢ Shifts of the Supply Curve
❖ Determination of Market Equilibrium
❖ Elasticities of Demand and Supply
➢ Price Elasticity of Demand
➢ Income Elasticity
➢ Cross Price Elasticity
➢ Elasticity of Supply
❖ Market Structure
➢ Monopoly
➢ Perfect Competition
➢ Monopolistic Competition
➢ Oligopoly
❖ Supply-Demand and the Philippine
Labor Market
➢ Labor Supply
➢ Population Growth
➢ Wages
➢ Philippine Peso and Foreign
Currencies
➢ Housing Shortage and Real
Estate Boom
➢ Rent and Price Structure
➢ Savings and Investment
➢ Taxes
❖ Business Organization
❖ Tools in Evaluating Business
➢ Swot Analysis
➢ Porter’s Five Forces of
Competitive Position
Analysis
❖ Industry Analysis
➢ Competition
➢ Customers
➢ Suppliers
➢ Substitutes
❖ Environmental Analysis
➢ Economic Forces
➢ Physical Environment
➢ Political Factors
➢ Cultures and Lifestyles
➢ Competition
❖ Circular Flow of Economic Activity
➢ The Circular Flow
➢ Physical Flow
➢ Product Flow
➢ Resources Flow
❖ Economy’s Producing Sectors
➢ Agriculture, Fishery and
Forestry
➢ Industrial Sector
➢ Service Sector
❖ Competitiveness and Efficiency
➢ Factor-Driven
➢ Efficiency-Driven
➢ Innovation-Driven
➢ Manufacturing
➢ Trade and Transport
➢ International Trade
➢ Tourism
➢ Small Business Opportunities
 Terms to Remember

Business Income Effect

Industry Substitution Effect
Competition Ceteris Paribus
Target Market Substitute goods
Suppliers Complementary Goods
Distributors Normal Goods
Exports Inferior Goods
Imports Income
Sole proprietorship Expectation
Partnership Taste and Preferences
Corporation Shifts of the curve
Cooperative Supply
Micro Business Supply schedule
Small scale business Cost of production
Medium scale business Market equilibrium
Large scale business Equilibrium price
Physical Flow Equilibrium quantity
Financial Flow Rent
Household Price ceiling
Business Firms Taxes
Raw Materials Investment
Intermediate Goods Savings
Final Goods Business Process Outsourcing
ASEAN Labor Migration
Liberalization policies Minimum Wage
Productivity/Efficiency Foreign Exchange Rate
Global Competitiveness Real Estate Boom
Tourism Economies of Scale
Market Regressive
Factor Market Progressive
Product Market Proportional
Financial Market Tax Avoidance
Demand Tax Evasion
Demand Schedule Industrial Sector
Demand Function Service Sector
Demand Curve Overseas Filipino Workers