Betar lecture

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Information about Betar lecture

Published on March 3, 2014

Author: glennrivera520

Source: slideshare.net

Social Science BETAR – Basic Economics, Taxation and Agrarian Reform

Considerations • Be familiar with economic concepts and laws. • Read the textbook in Fourth Year High School, if you have it. • Be up to date or know the latest news on Philippine economy (e.g. GDP growth), taxation (e.g. Tax evasion issue of Manny Pacquiao) and agrarian reform (e.g. Hacienda Luisita Issue). • Do not rely too much on the hand-outs and lecture. Do some research on your own.

Basic Economics Key tasks • Know the meaning of Economics and economic concepts (e.g. market, buyer and seller) and laws (e.g. law of supply and demand) • Learn how trade and commerce works within and between countries

Basic Economics • Economics - study of goods and services: the study of the production, distribution, and consumption of goods and services (Source: Microsoft® Encarta® 2009. © 1993-2008 Microsoft Corporation.) - study of how human beings allocate scarce resources to produce various commodities and how these commodities are distributed for consumption among the people in the society (Source: Maglente Review and Training Center Reviewer on General Education)

Basic Economics Some key terms: • Market - social arrangement that allows buyers and sellers to discover information and carry out a voluntary exchange of goods or services • Buyer – any person who contracts to acquire an asset in return form of consideration • Seller – any person who deals with trade, dealing in commodities that he does not produce himself for him to produce profit • Law of supply and demand – states that if the price is higher, supply is greater and demand is lower; if the price is lower, supply is lesser and demand is greater (Source: Maglente Review and Training Center Reviewer on General Education)

Taxation Some key terms: • Taxes – enforced proportional contributions from persons and property levied by the state by virtue of its sovereignty for the support of the government and for all its public needs • Taxation – the inherent power of the State, acting through the legislature, to impose and collect revenues to defray the necessary expenses of the government • Revenue – refers to all funds or income derived by the government (Source: Maglente Review and Training Center Reviewer on General Education)

Agrarian Reform Republic Act No. 6657 otherwise known as the Comprehensive Agrarian Reform Law (CARL) of 1988 was signed into law by President Corazon C. Aquino. • Land reform – refers to the full range of measures that may or should be taken to improve or remedy the defects in the relationships among men with respect to their rights in Land • The State pursues a Comprehensive Agrarian Reform Program (CARP) in order to: – Promote social justice – Establish owner-cultivatorship of economic sized farms as basis of Philippine Agriculture – Move the nation toward sound rural development and industrialization (Source: Maglente Review and Training Center Reviewer on General Education)

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