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Development Agencies

Development Agencies

An organization committed or dedicated to distributing aid.

Taxation

In modern mixed market economy, the central form of redistribution is facilitated through___________

Law of Demand

The demand level for a product or a resource will decline as its price rises and rise as the price drops.

Demand

It is the total quantity of a product or service that consumers are willing and able to purchase at different prices during a specific time period.

Reciprocity

It refers to the practice of exchanging goods, services, or favors with the expectation of receiving something of similar value in return.

Ceteris Paribus

"All other things being equal."

State Institutions

It is an organized political body controlled by the government, whose main function is to provide public services and maintain public order.

Cooperatives

They often share their earnings with the membership as dividends, which are divided among the members according to their participation in the enterprise.

Non-state institutions

These are establishments which are not owned and controlled by the government.

Law of Supply

The higher prices boost the supply of an economic good and lower ones tend to diminish it.

State

It is an organized political community living under a single system of government.

Trade Union

It consists of workers and union leaders, united to protect and promote their common interests.

Supply

It refers to the total amount of a product or service that producers are willing and able to offer for sale at different prices over a specific period of time.

Bank

Places or institutions where people place or deposit their money or savings with corresponding interest on a given period of time and or assets for safekeeping.

Economic Institutions

Its main functions are the production, distribution, and consumption of goods and services.

• PSA

• (Philippine Statistics Authority): This agency collects and analyzes data on the Philippine economy and society. It's an economic institution.

• DFA

• (Department of Foreign Affairs): This agency handles foreign relations and diplomacy. It's not directly related to the terms above.

• DPWH

• (Department of Public Works and Highways): This agency is responsible for infrastructure development. It's a state-controlled institution.

• DOLE

• (Department of Labor and Employment): This agency promotes employment and protects workers' rights. It's a state-controlled institution.

• DENR

• (Department of Environment and Natural Resources): This agency manages the country's natural resources. It's a state-controlled institution.

• BPI

• (Bank of the Philippine Islands): This is a commercial bank, not directly related to the terms above.

• DEPED

• (Department of Education): This agency is responsible for the education system. It's a state-controlled institution.

• DTI

• (Department of Trade and Industry): This agency promotes and regulates trade and industry. It's a state-controlled institution.

• BSP

• (Bangko Sentral ng Pilipinas): This is the central bank of the Philippines, responsible for monetary policy and financial stability. It's not directly related to the terms above, but it's a key economic institution.

• NEDA

• (National Economic and Development Authority): This agency is responsible for formulating and implementing national development plans. It's an economic institution.