UCSP 2.1

Political structure or institution

is defined as the organized way in which power is allocated and decisions are made within society.

The Executive branch

is comprised of the President and the Vice President who are chosen by direct popular vote and fulfill a term of six years.

The Legislative branch

can make laws, alter, and reverse them through the power bestowed in the Philippine Congress. This institution is divided into the Senate and the House of Representatives

The Judicial branch

maintains the power to resolve disputes concerning rights that are legally demandable and enforceable. This branch decides whether there has been a serious abuse of judgment amounting to lack or excess of authority on the part and instrumentality of the government. It is made up of a Supreme Court and lower courts.

Power

on the other hand is the capacity to realize desired ends despite opposition from others.

Authority

a power that people perceive as legitimate rather than coercive

Traditional Authority

respect for a long-standing cultural pattern is used to legitimize power.

Rational-Legal Authority

or also known as bureaucratic authority; legally created rules and regulations are used to legitimize power.

Charismatic Authority

extraordinary personal skills that inspire devotion and obedience are used to legitimize power.

Gilliard et al., (2000)

an economic institution is being defined as an enduring organization, practice, or relationship created by individuals to handle and cope with basic economic dilemmas.

economic institution

is being defined as an enduring organization, practice, or relationship created by individuals to handle and cope with basic economic dilemmas.

Reciprocity

Transaction between two socially equal parties having the same status with regards to values of goods or services.

Reciprocity

The dowry given by a Muslim groom to his prospective bride is a transaction between two socially equal parties having the same status with regards to values of goods or services. Tantamount to the wealth and educational attainment possessed by the latter.

Generalized Reciprocity

A form of transaction which utilizes gestures that expresses personal relationships than economic transactions.

Balanced Reciprocity

In this form of transaction, the giver is expected to gain something in return although it does not have to be given instantly.

Negative Reciprocity

This transaction is being practiced using deceiving ways to gain profit. In this form of transaction, individuals involved try to gain as much as conceivable while paying the least amount possible

Redistribution

The process by which products produced out from the community is sent to a place where they are stored, counted, and later distributed back to the people.

Market Exchange

The price of the transactions of deliverables and services are supposedly governed by the rules of supply and demand.

Banks

A financial institution that receives deposits from the public and generates credit.

Cooperatives

Frequently operated by farmers or consumers for their mutual benefits.

Trade Unions

Also known as labor unions and is consist of workforces who have come together to attain mutual goals.

Development Agencies

The goal of this institution is to help the poor and marginal portion of the society. So, they may have opportunities for income and decent employment.

Transnational Advocacy Groups

Organizations which are devoted into manipulating political, economic, social, and institutional decisions across country boarders.

Corporation

A legal unit that is distinct from its owners. Moreover, corporation has the right to enter contracts, loan and borrow money, hire employees, own assets, and pay taxes.

International Organizations

International Red Cross is an example of this non-state institution.

International Organizations

Include both governmental and nongovernmental organizations.

International Non-governmental organizations

➢ transcend borders in pursuit of a common cause

International Non-governmental organizations

International Red Cross and other humanitarian teams deployed in areas hit by natural and man-made disasters.

International Governmental Organizations

➢ refer to a grouping established by states and are based on treatise, have formal structures, and meet at regular intervals (Santarita & Madrid, 2016)

International Governmental Organizations

Peace-keeping forces sent by the United Nations to warring states

Insurance and Companies

➢ Offers insurance policies to the public either by selling them directly to a person or through an employer’s benefit plan.

Investment Bank

➢ A bank that purchases large holdings of newly issued shares and resells them to investors.

Commercial/Retail Banks

➢ Manage withdrawals and deposits as well as supplying short-term loans to a person and small-scale businesses