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POLITICAL DYNASTY
- It refers to “two or more individuals who are related within
the second degree of consanguinity” and holds public
office constitute the definition of political dynasty.
- The concept is related to oligarchy in political science,
patronage politics, and transferring of power between
STATE – Political Concept
family members.
- A political unit consisting of a government that has
- Philippine Laws. The 1987 Constitution of the Philippines
sovereignty presiding over a group of people and a
states in Article II Section 26, "The State shall guarantee
well-defined territory
equal access to opportunities for public service, and
- A state is the highest form of political organization
prohibit political dynasties as may be defined by law."
- The state is sovereign because it has the capacity to
POLITICAL ALLIANCE maintain order within its boundaries
- As political parties may be formed by joining of forces of - The state is sovereign because other states recognize
political families, political alliances may be created by the it as an independent state
collaboration among some political parties. - People who comprise a state are called its citizens
- In the Philippines, a multi-party system exists. The NATION – Ethnic Concept
numerous political parties recognized by the Commission - Groups of people that share a common history,
on Election. language, traditions, customs, habits, and ethnicity
• Major Parties (traditional National Parties) - Benedict Anderson - nations exist as a state of mind,
• Minor Parties (party-list organization) you can be physically apart from the country by still
• Regional or Provincial parties considering yourself part of the nation (ex, OFW's)
- Nations have no political sovereignty
L2: Political and Leadership Structures Philippines – not a nation-state because of Moros in Mindanao,
but it is a nation when the president is the one who’s speaking
POLITICS, POWER, AND AUTHORITY
Politics LEGITIMACY AND TYPES OF AUTHORITY
- Refers to activities through which people make, What is Political Legitimacy and Authority?
preserve, and amend the general rules under which
they live.
- It involves the dynamics of conflict resolution and
cooperation, as well as the exercise of power.
Power
- Refers to the ability to do something to achieve the
desired outcome.
Authority
- A person who has authority has the right to exercise
power.
NONMARKET INSTITUTIONS - Invisible hand integrates both the idea of self-interest and
- refers to goods or labor exchange without involving any competition in the marketplace, which brings about a socially
cash output on either of the parties involved. optimum result even in the absence of government
intervention.
Reciprocity - Market transaction involves parties who sell their goods
- It pertains to the exchange of goods or labor between and services in exchange for cash from consumers which
individuals in a community that can be in a form or direct comes in a form of a purchase at a given price of a good or
barter or simultaneous exchange of goods. a service.
- Price determination depends on the availability of a
Types of Reciprocity: particular good or service in the market. Ideally, the market
Generalized Reciprocity – giving something without price is estimated to be that price where supply equals
the anticipation of an instant return. demand.
Balanced Reciprocity – giving out of something with - When supply is higher than demand, it is called surplus.
the anticipation of immediate return. - When supply is lower than demand, it is called shortage.
Negative Reciprocity
- Occurs when the exchange of something Oligopoly – It refers to an economic market condition in which
already involves taking advantage of there are a few service providers -ex. Airline companies
someone or the situation. Monopoly – It refers to an economic market condition in which
- Most of the time, this type of exchange there is only one service provider
involves trickery, intimidation, or hard ex. MERALCO
bargaining
State-Market Relationships and International Trade
Transfer - power of the government, by law, to regulate prices in the
- It involves a redistribution of income that is not matched by market for the protection of the consuming public.
actual exchange of goods and services.
it is in this aspect that the state plays an important role in
It refers to payments or transactions where there is no the market.
value added to the economy. it comes regulate prices to protect the interest of the
There is no additional production of goods and services but consuming protect.
just a transfer of money from private hands to government. the state, through government, comes in to regulate the
prices of the services, which technically is in the form of
the wages the workers earn. INTERNATIONAL TRADE
- It refers to the exchange of goods, commodities, and forms
MARKET of services outside one’s specific territory or geographic
- A system of private ownership and enterprise that acts location that benefits nations because it enables
based on their own private and self-interest (Schmalensee, economies to employ its resources in ways that increase
2013) its total output.
STATE The measures for protection that the government gives include:
- The governing body of the society (Arcinas & Mactal, 1. TARIFFS – These are taxes on imported goods.
2016) 2. QUOTAS – These are the limits set on the quantity of
imported goods that can enter a domestic economy
MARKET & STATE
dti – Department of Trade and Industry Effects:
1. It protects domestic producers but harms domestic
- Basic commodities such as food are subject to price consumers as they have to pay higher than world prices
ceilings or maximum prices. for the protected goods.
- Labor or service are regulated in the form of wages the 2. Domestic firms that use the imported goods are also
workers earn. affected as they have to pay more for the input of their
- Government intervention in economic institutions is production resulting to prices much higher than
warranted to protect the interest of consumers and commodities coming from other countries.
workers. It also functions to correct the tendency of the
private sector to make decisions that are detrimental to the TRADE WARS
economy. Example is the reduction of interest rates so that - refer to the imposition of increased tariffs and quotas of
investors can borrow money to invest on business thereby each country to another which is detrimental to each
creating jobs and bring forth production. This is what we other’s economy.
call monetary policy.
- On the part of the government, it is encouraged to increase General Agreement on Tariffs and Trade (GATT)
public spending on infrastructure to create more economic - is a multilateral platform of negotiation among participating
activity, this is called fiscal policy. nation, which embraces the principles of equal,
- When there is a problem in the Market system, the nondiscriminatory trade treatment for all member nations,
government steps in to provide welfare for those who need the reduction of tariffs, and the elimination of all import
it. quotas.
- It also entails the liberalization of government policies on
Command Economy/ Socialist Economy some services like tourism, real estate, advertising, and
- when the government takes over the functions of the financial services.
market in producing and distributing essential goods and
services WORLD TRADE ORGANIZATIONS (WTO)
- the market forces of supply and demand deciding on what - succeeded the GATT as more nations joined this
to produce, how to produce, and for whom to produce. multilateral organization that continues to push forward the
free trade agenda.
Reasons of Inequality where the Government seeks to protect
its Citizens:
1. Larger income for those labor accrued with innovation, L4: Non-State Institutions and Organizations
creativity, and industry. ORGANIZATION
2. Inherent ability, acquired education, and inherited - Refers to a formally constituted entity, composed of
properties. individuals performing a set of functions for the
3. The evolution of economies achievement of a certain mandate, obligation, or task.
4. Physical and mental disabilities.
INSTITUTION
TAXES - It refers to a structured domain of norms, rules, and
- are compulsory contribution to the wealth of the practices that gives a sense of order to a specific set of
government, normally levied on the worker’s income, relationships (e.g., religion, kinship and family, friendship
business profits, and consumption of goods and services, and association, popular culture, rituals, and knowledge
in order to raise revenues for government spending. systems).
Global Organizations
- There are global organizations whose operations influence
the development of entire countries. Funders or donors
operate by giving loans or grants to other counties and use
it for their development.
- These loans and grants are collectively called “official
development assistance” or ODA.
- Loans have to be repaid, while grants are paid back.
BILATERAL ORGANIZATIONS
- These are national agencies of different economically
matured nations in North America, Asia, and Europe
whose primary mandate by their respective governments
is to provide assistance to economically challenged
nations in the world.