economic and nonstate institutions

Reviewer 2

economic and nonstate institutions

86問 • 1年前Reviewer 2

問題一覧

is an established organization. It is a place where an organization talkies care of people for a usually long period of time. It is also refers as a custom, practice, or law that is accepted and used by many people.

Institution

refer to the specific agences devoted to collecting economic data. The institutions are commissioned with the job of supplying a good or service Important to the economy of a country. Example: Bureau of Internal Revenue (BIR)

Economic institutions

5 kinds of economic institutions

Reciprocity, transfers, redistribution, market transactions, market and state

refers to the exchange of goods and services through a market. It takes place in the economy in terms of measuring gross domestic product

Market transactions

refers to the theory, policy, or practice of lessening or reducing inequalities in income through such measures as progressive income taxation and antipoverty programs.

Redistribution

is also known as transfer payment or government transfer. It is a redistribution of income in the market system.

Transfers

refers to the exchange of goods and services, with approximately the same value, between two parties

Reciprocity

7 types of non-state institution

Banks, corporation, cooperatives, trade unions, internal organizations, transnational advocacy groups, development agencies

are entities that participate or act in international relations

Non-state actors

_ or also called non-state actors is broadly defined as international actors who are largely or completely autonomous from the state. emanating from civil society. market economy or political opportunities.

Non-state institutions

are institutions that conduct business purely on profit motive

Banks

The _ is a financial Institution that lends money to both public as well as private organizations.

bank

are the most common form of business organizations. These are chartered by a state and given many legal rights as an entity separate from its owners According to Cornell University, they are viewed as legal persons, which means they can be sued for nat carrying out certain functions. or responsibilities

Corporations

are organizations based on membership of employees. in various trades, occupations. and professions, whose major focus is the representation of its members at the workplace and in the wider society.

Trade union

are autonomous associations of persons united valuntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlied enterprise

Cooperatives

are entities established by formal political agreements between their members who have the status of international treaties.

International Organizations

The three principal bodies responsible for regulating international economic affairs are the following:

World bank, international monetary fund, world trade organization

establish and support sustainability programs for the community.

Development Agencies

are advocates of principled causes, ideas, and values such as human rights or the environment.

Transnational Advocacy Groups

Kinds of reciprocity

Generalized, balanced, negative

which means giving without expectation of return/no concern how gift is affecting the giver Example: parents giving to their children

Generalized

which means to get something for nothing. Example: theft, gambling

Negative

which means to give with the expectation of varies. return/time Example: birthday gift

Balanced

These are also known as banking functions.

Primary functions

2 Primary functions:

Accepting deposits and granting of loans and advances

The bank collects deposits from the public.

Accepting deposits

4 types of accepting deposits

Savings, fixed, current, recurring

This encourages saving habit among the public.

Savings

This type of account is operated by businessmen

Current

This type of account is operated by salaried persons and petty traders.

Recurring

Bank advances loans to the business community and other members of the public. The rate charged is higher than what it pays on deposits. The difference in the interest rates, including the lending rate and the deposit rate, is its profit.

Granting loans and advances

4 types of loans and advances

Overdraft, cash credits, loans and discounting bill of exchange

-These advances are given to current account holders

Overdraft

It is normally for short term (a period of one [1] year) or medium term (a period of five [5] years).

Loans

The bank can advance money by discounting or by purchasing båls of exchange, both domestic and foreign bills.

Discounting bills of exchange

These are also called as non-banking functions

Secondary function

2 responsible for secondary functions

Agency function, general utility function

The bank acts as an agent of its customers such as trustees, executors, advisers and administrators on behalf of its clients. They also act as representatives of clients to deal with other banks and institutions.

Agency function

Agency function:

Transfer of funds, collection of cheques, periodic payments, portfolio management, periodic collections

The bank transfer finds from one branch to another or from one place to another.

Transfer of funds

The bank collects the money of the cheques through the clearing section of its customers. The bank also collects money of the bills of exchange.

Collection of cheques

On standing instructions of the client, the bank makes periodic payments in respect of electricity bills, rent, etc

Periodic payments

The banks also undertakes to purchase and sell the shares and debentures on behalf of the clients and accordingly debits or credits the account.

Portfolio management

The bank collects salary, pension, dividend, and such other periodic collections on behalf of the client

Periodic collection

General Utility Functions:

Issue of drafts and letter of credits,locker facility, underwriting of shares, dealing in foreign exchange, project reports, social welfare programs

The bank underwrites shares and debentures through its merchant banking division

Underwriting of Shares

-The commercial banks are allowed by Reserve Bank of India (RBI) to deal in foreign exchange.

Dealing in Foreign Exchange

-The bank may also undertake to prepare project reports on behalf of its chents.

Project Reports

-It undertakes social welfare programs, such as adult literacy programs, public welfare campaigns, etc.

Social Welfare Programs

The bank provides a locker facility for the safe custody of valuable documents, gold omaments, and other valables

Locker Facility

Small corporations are formed to stay in business on a permanent basis

Providing continuity

All corporations are in business to earn a profit

Increasing profits

Corporations are also responsible for giving back to their communities

Social responsibilities

4 Classifications of trade union

Militant function, Fraternal function, social function, political function

These include affihating the union with a political party, helping the political party in enrolling members, collecting donations, and seeking the help of political parties during the periods of strikes and lockouts.

Political function

Reciprocity, transfer, and redistribution are all considered as _ since they do not entail the exchange of of cash t sh for the rend rendering of service or provision of goods.

nonmarket transactions

entails a redistribution of income that is not matched by the actual exchange of goods and services.

Transfer

can be considered as a combination of the features of transfer and reciprocity, where the economic exchange involves the collection of goods from members, the pooling of these goods. and then the redistribution of these goods among the same members

Redistribution

or the swapping of goods for goods is the traditional means of exchange.

Barter

The _ integrates both the idea of self-interest and competition in the market place, which brings about a socially optimum result even in the absence of govemment intervention.

invisible hand

A _ is a mechanism and not necessarily a place that brings buyers and sellers together for the desired transaction.

market

serve as a signaling device to indicate the value of a good or service to both the buyers and the sellers and guide their actions on whether they should buy or not or supply more or less.

Prices

is another requirement for a market economy. Critical to the market economy is the ability to produce goods and services efficiently. It is easier to produce goods more efficiently with specialization.

Specialization

is called the division of labor. Specialization contributes to efficiency by taking advantage of the differences in every person's abilities

Human specialization

A _ is one where the production, distribution, and consumption of goods and services operate through these forms of exchange

market economy

The _ involves parties who sell their goods and services in exchange for cash from consumers.

market transaction

A _ is one where the price of a good or service is determined by the forces of supply (the available level of products or services provided by producers or seliers) and demand (the level of willingness of consumers to purchase).

free-market economy

It is in this aspect that the state plays an important role in the market

State market relationship

is also considered a commodity, except that in this case, the sellers of the service are the workers, while the consumers are the factories and the producers

Labor

The _, which is determined by regional wage, is the below which no employer would allow paying their workers

minimum wage

The _ is a political body the exercises monopoly of violence or legitimate control overuse of force within its territory

state

A _ or a socialist economy happens when the government takes over the functions of the market in producing and distributing essential goods and services. In this system, instead of the market forces of supply and demand deciding on what to produce, a command economy relies on a central government

command economy

are compulsory contributions to government coffers, normally levied on the worker's income, business profits, and consumption of goods and services, to raise revenues for govemment spending

Taxes

A _ refers to an organization of workers whose main objective is to protect the welfare of its members. It does this by negotiating collectively with employers for better compensation packages and benefits, improved safety standards, and better working conditions.

Trade or Labor Union

refers to an autonomous association whose membership is voluntary towards the attainment of common economic, social, and cultural needs or aspirations

Cooperative or coop

A _ is owned by members that join the organization

Nonstock corporation

A _ is where ownership is through stockholders who own particular shares.

stock corporation

refers to the aboard category of non-state organizations representing a company or group of people that engage in a lawful ac activity about a public function, such as the provision of good service to the larger society

Corporation

5 civil society organization

Academic and Science-Based Organizations, mass media, religious organization, nongovermental organization, people's organization

-based organizations composed of people who are really in the community and are directly involved

People's Organization-grassroots

-third-party mediating organizations

Nongovemmental Organization

-organized religion seen in church and congregation and their counterparts in Islam and other religions

Religious Organization

these include universities, schools, and colleges; private pooling firms; private think tanks and consultancy groups

Academic and Science-Based Organizations

is an organization established by a treaty or other instrument governed by international law and possessing its own international legal by personality, such as the United Nations, the World Health Organization, and NATO

International organization

are defined as "self-organized advocacy groups undertaking voluntary actions across state borders in pursuit of what they deem the wider public interest.

Transnational Advocacy organization

were formed as a response to crises like war damage and industrial decline. In some countries, such agencies were established with the hope of stimulating economic development, post- war

Development agencies

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問題一覧

Institution

Economic institutions

5 kinds of economic institutions

Reciprocity, transfers, redistribution, market transactions, market and state

refers to the exchange of goods and services through a market. It takes place in the economy in terms of measuring gross domestic product

Market transactions

refers to the theory, policy, or practice of lessening or reducing inequalities in income through such measures as progressive income taxation and antipoverty programs.

Redistribution

is also known as transfer payment or government transfer. It is a redistribution of income in the market system.

Transfers

refers to the exchange of goods and services, with approximately the same value, between two parties

Reciprocity

7 types of non-state institution

Banks, corporation, cooperatives, trade unions, internal organizations, transnational advocacy groups, development agencies

are entities that participate or act in international relations

Non-state actors

Non-state institutions

are institutions that conduct business purely on profit motive

Banks

The _ is a financial Institution that lends money to both public as well as private organizations.

bank

Corporations

are organizations based on membership of employees. in various trades, occupations. and professions, whose major focus is the representation of its members at the workplace and in the wider society.

Trade union

are autonomous associations of persons united valuntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlied enterprise

Cooperatives

are entities established by formal political agreements between their members who have the status of international treaties.

International Organizations

The three principal bodies responsible for regulating international economic affairs are the following:

World bank, international monetary fund, world trade organization

establish and support sustainability programs for the community.

Development Agencies

are advocates of principled causes, ideas, and values such as human rights or the environment.

Transnational Advocacy Groups

Kinds of reciprocity

Generalized, balanced, negative

which means giving without expectation of return/no concern how gift is affecting the giver Example: parents giving to their children

Generalized

which means to get something for nothing. Example: theft, gambling

Negative

which means to give with the expectation of varies. return/time Example: birthday gift

Balanced

These are also known as banking functions.

Primary functions

2 Primary functions:

Accepting deposits and granting of loans and advances

The bank collects deposits from the public.

Accepting deposits

4 types of accepting deposits

Savings, fixed, current, recurring

This encourages saving habit among the public.

Savings

This type of account is operated by businessmen

Current

This type of account is operated by salaried persons and petty traders.

Recurring

Granting loans and advances

4 types of loans and advances

Overdraft, cash credits, loans and discounting bill of exchange

-These advances are given to current account holders

Overdraft

It is normally for short term (a period of one [1] year) or medium term (a period of five [5] years).

Loans

The bank can advance money by discounting or by purchasing båls of exchange, both domestic and foreign bills.

Discounting bills of exchange

These are also called as non-banking functions

Secondary function

2 responsible for secondary functions

Agency function, general utility function

Agency function

Agency function:

Transfer of funds, collection of cheques, periodic payments, portfolio management, periodic collections

The bank transfer finds from one branch to another or from one place to another.

Transfer of funds

The bank collects the money of the cheques through the clearing section of its customers. The bank also collects money of the bills of exchange.

Collection of cheques

On standing instructions of the client, the bank makes periodic payments in respect of electricity bills, rent, etc

Periodic payments

The banks also undertakes to purchase and sell the shares and debentures on behalf of the clients and accordingly debits or credits the account.

Portfolio management

The bank collects salary, pension, dividend, and such other periodic collections on behalf of the client

Periodic collection

General Utility Functions:

Issue of drafts and letter of credits,locker facility, underwriting of shares, dealing in foreign exchange, project reports, social welfare programs

The bank underwrites shares and debentures through its merchant banking division

Underwriting of Shares

-The commercial banks are allowed by Reserve Bank of India (RBI) to deal in foreign exchange.

Dealing in Foreign Exchange

-The bank may also undertake to prepare project reports on behalf of its chents.

Project Reports

-It undertakes social welfare programs, such as adult literacy programs, public welfare campaigns, etc.

Social Welfare Programs

The bank provides a locker facility for the safe custody of valuable documents, gold omaments, and other valables

Locker Facility

Small corporations are formed to stay in business on a permanent basis

Providing continuity

All corporations are in business to earn a profit

Increasing profits

Corporations are also responsible for giving back to their communities

Social responsibilities

4 Classifications of trade union

Militant function, Fraternal function, social function, political function

Political function

Reciprocity, transfer, and redistribution are all considered as _ since they do not entail the exchange of of cash t sh for the rend rendering of service or provision of goods.

nonmarket transactions

entails a redistribution of income that is not matched by the actual exchange of goods and services.

Transfer

Redistribution

or the swapping of goods for goods is the traditional means of exchange.

Barter

The _ integrates both the idea of self-interest and competition in the market place, which brings about a socially optimum result even in the absence of govemment intervention.

invisible hand

A _ is a mechanism and not necessarily a place that brings buyers and sellers together for the desired transaction.

market

serve as a signaling device to indicate the value of a good or service to both the buyers and the sellers and guide their actions on whether they should buy or not or supply more or less.

Prices

Specialization

is called the division of labor. Specialization contributes to efficiency by taking advantage of the differences in every person's abilities

Human specialization

A _ is one where the production, distribution, and consumption of goods and services operate through these forms of exchange

market economy

The _ involves parties who sell their goods and services in exchange for cash from consumers.

market transaction

free-market economy

It is in this aspect that the state plays an important role in the market

State market relationship

is also considered a commodity, except that in this case, the sellers of the service are the workers, while the consumers are the factories and the producers

Labor

The _, which is determined by regional wage, is the below which no employer would allow paying their workers

minimum wage

The _ is a political body the exercises monopoly of violence or legitimate control overuse of force within its territory

state

command economy

are compulsory contributions to government coffers, normally levied on the worker's income, business profits, and consumption of goods and services, to raise revenues for govemment spending

Taxes

Trade or Labor Union

refers to an autonomous association whose membership is voluntary towards the attainment of common economic, social, and cultural needs or aspirations

Cooperative or coop

A _ is owned by members that join the organization

Nonstock corporation

A _ is where ownership is through stockholders who own particular shares.

stock corporation

Corporation

5 civil society organization

Academic and Science-Based Organizations, mass media, religious organization, nongovermental organization, people's organization

-based organizations composed of people who are really in the community and are directly involved

People's Organization-grassroots

-third-party mediating organizations

Nongovemmental Organization

-organized religion seen in church and congregation and their counterparts in Islam and other religions

Religious Organization

these include universities, schools, and colleges; private pooling firms; private think tanks and consultancy groups

Academic and Science-Based Organizations

International organization

are defined as "self-organized advocacy groups undertaking voluntary actions across state borders in pursuit of what they deem the wider public interest.

Transnational Advocacy organization

were formed as a response to crises like war damage and industrial decline. In some countries, such agencies were established with the hope of stimulating economic development, post- war

Development agencies