Contemporary Issues Affecting Filipino Entrepreneurs

These flashcards cover key concepts related to the challenges and issues that Filipino entrepreneurs face, including definitions and terms relevant to applied economics.

the ability to know what products and services are needed by people and to be able to provide these things at the right time, at the right place and to the right people and at the right price.

Entrepreneurship

The two types of investments are Long Term Investment and __.

Short Term Investment

Interest Rates are the amount a lender charges for the use of assets expressed as a __ of the principal.

percentage

Entrepreneurs are called __ because they provide job opportunities.

employers

The Philippines has a law called 'Minimum Wage Law' which establishes a minimum amount that an employer can pay a __ for one day of labor.

worker

Failures to pay taxes can lead to __ by law.

punishment

The principle that relates taxes to the benefits taxpayers receive from a public good is called __ Tax Principle.

Benefits-Received

The principle that suggests those with a greater ability to pay are taxed more is called __ Tax Principle.

Ability to Pay

Essentially, lack of __ can hinder the success of Filipino entrepreneurs.

financial support

Entrepreneurs must focus on __ to create good customer relationships and sustainable profits.

marketing campaigns