Q3 SOC SCI QE chapter 13

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Too much or too little money supply is bad for the economy. (T or F)

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43 Terms

1

Too much or too little money supply is bad for the economy. (T or F)

T

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2

It is anything which the market accepts as payment for goods and services.

Money

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3

This was the most popular commodity in ancient times.

Metallic money

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4

They struck the first metal coins in 800BCE.

Lydians

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5

__ and __ were the most powerful form of money during the age of mercantillism.

Gold, silver bullions

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6

The coins’ value was equal to their ___ value.

intrinsic

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7

This developed in the late middle ages because of the need of merchants to travel conveniently and safely.

Paper money

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8

Negotiable instruments for the payment of cash.

Checks

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9

It is the short-term loan incurred from the issuing credit card company.

Credit card payment

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10

Functions of money:

  1. Medium of exchange

  2. Standard of Value

  3. Store a value

  4. standard of deferred payment

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11

This is a form of wealth because it has a stored value.

Money

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12

It consists of currency in circulation plus peso demand deposits.

Narrow money

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13

Made up of coins and paper bills issued by the Banko Sentral ng Pilipinas less cash on hand of the National Treasury and the DMB.

cash

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14

Are savings and checking accounts help by the banks.

Demand deposits

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15

Are deposit payable on demand and transferable by check.

Checking accounts

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16

Checking accounts are also known as ___.

Current accounts

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17

It is an interest-bearing bank account that has a date of maturity, such as fixed deposits and recurring deposits.

Time deposit

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18

They are high-interest-yielding term deposits.

Fixed deposits

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19

They are special kind of term deposit offered by banks.

Recurring deposits

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20

They comprise the monetary sector of the economy

Financial institutions

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21

Their main function is to facilitate and regulate the flow of money supply in the economy.

Financial institutions

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22

Types of financial institutions:

  1. banks

  2. nonbanks

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23

Entities that engage in lending of funds obtained in the form of deposits.

Banks

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24

3 Main types of banks:

  1. Commercial

  2. thrift

  3. rural

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25

In the Philippines, there are __ types of charter banks.

6

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26

6 Charter banks of the Philippines

  1. Universal banks

  2. commercial banks

  3. thrift banks

  4. cooperative banks

  5. rural banks

  6. islamic banks

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27

Are institutions that offer all services of the banking system.

Universal banks

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28

These are the biggest banks in terms of assets and the leaders in consolidated resources, deposits, and customenr loans.

Universal banks

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29

The top five and the only trillionaire universal banks in the country:

  1. Banco de Oro

  2. Metrobank

  3. Land Bank

  4. Bank of the Philippine Islands

  5. Philippine National Bank

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30

Are the biggest lenders of investment funds.

Commercial banks

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31

Unlike universal banks, they have limited services and perform a function they are designed for.

Commercial banks

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32

Most of the universal banks started out as ___ .

Commercial banks

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33

Are composed of savings and mortgage banks, stock savings and loan associations, and private development banks.

Thrift banks

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34

Are established to accelerate countryside development.

Rural banks

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35

Are financial entities that are organized by the members on a cooperative basis.

Cooperative banks

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36

The customers of the banks are also their owners.

Cooperative banks

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37

Cooperative banks are also called as ___.

Credit unions

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38

Are financial institutions whose banking activities comply with sharia and its practical applications.

Islamic banks

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39

“Sharia“ means

Islamic law

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40

The only Islamic bank in the Philippines

Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP)

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41

Are financial entities that do not offer full-scale bank services.

Nonbanks

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42

Based on 2018 data, there are ___ nonbank financial institutions in the Philippines.

6267

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43

Are very popular to Filipinos and also considered as the banks of the poor.

Pawnshops

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