Name: Milcu B.

Pansaon Year/Section: 1-G

Instructor: Sir Curvin Vincent Curran Course: Bachelor of Science in Agri-Business

CONTEMPORARY WORLD

Chapter 3
Test 1: Instruction: With your own understanding and opinion, answer briefly and comprehensively the
following questions. (5points each):

How do you think does economy affects a society?

Ans: Economic growth affects government policy and spending. First and foremost, the economy
affects how a government acts. Economic growth stimulates business and spending. Increased exports
and imports lead to greater income from business taxes. In short, governments have an improved cash
flow. This can then lead to government spending.

How Bretton Woods’s system did mold the global economy today?

Ans: While Bretton woods system in no longer in place. Monetary order that were still living with today,
poor economy conditions in much of the post-war world made.

What are the effects of multinational corporations in the Philippine recent economy?

Ans. I can only think two and this is just my opinion .One is that it helps the economy by employing
locals who in turn consume products.

Test 2: Instruction: Write down at most 5 distinct advantages and disadvantages in the rise of
International Financial Institutions;

Advantages Disadvantages

1. Helps to increase the credit- 1.As these institutions come under

worthiness of a company.
2.Financial institutions provide
long-term finance, which is not
provided by commercial banks;
government criteria, they follow rigid
rules for granting loans
2.Too many formalities make the
procedure time-consuming

3. The rate of interest and 3.Many deserving concerns may fail

repayment measures is
convenient and economical.
4.provide financial, managerial
and technical advice and
consultancy to business firms
5.Obtaining a loan from financial
institutions increases the goodwill
of the borrowing company in the
capital market
to get assistance for want of security
and other conditions lay down by
these institutions
4.Financial institutions may have
their nominees on the Board of
Directors of the borrowing company
thereby restricting the powers of the
company
5. Restriction on dividend payment
imposed on the powers of the
borrowing company by the financial
institutions.
Test 3: The International Financial Institutions (15 points)

Elaborate why does the following International Financial Institution exists?

The General Agreement on Tariff and Trade (GATT)

Ans: The general agreement on tariffs and trade is legal agreement between many countries , whose
aver all purpose was to promote international trade by reducing or eliminating trade barriers such as
tariffs on quotas.

The International Monetary Fund (IMF)

Ans: The international monetary fund is an organization of 190 countries, working to foster global
monetary cooperation secure financial stability, facilitate international trade, promote high employment
and sustainable economic growth, and reduce poverty around the world.

The Organization of Petroleum Exporting Countries (OPEC)

Ans: The organization of petroleum exporting counties is permanent, intergovernmental organization,

created at Baghdad conference or September 10-14-1960 by Iran, Iraq, Kuwait, Saudi Arabia and
Valenzuela.

The North American Free Trade Agreement (NAFTA)

Ans: The North American free trade agreement was an argent signed by Canada, Mexico and the
united states that created a trilateral trade bloc in north America on January 1,1994 and superseded the
1988 Canada-United States free trade agreement between the United States and Canada.

World Trade Organization (WTO)

Ans: The world trade organization deals with the global rules of trade between nations. Its main
function is to ensure that.

Name: Milcu B. Pansaon Year/Section: 1-G

Instructor: Sir Curvin Vincent Curran Course: Bachelor of Science in Agri-Business

CONTEMPORARY WORLD

Chapter 3

Test 1: Instruction: In more than 100 but less than 150 words, answer the following questions. (5points
each):

How Agricultural Revolution does begin?

Ans: The agricultural revolution in great britain around the turn on 18th century .The perfection of
the horse -drawn seed press , which would make farming less labor intensive and more productive.
When Industrial Revolution did occur?

Ans: 1760-1840 The industrial revolution , now also known as the first industrial revolution was the
transition to new manufacturing processes in Europe.

What attributes Information Revolution?

Ans: Barriers to entry and economies of scale remain in aspects of power related to information soft
power in affected by cultural content by what is broadcasted by the media.

Test 2: Instruction: Analyze Capitalism and Socialism in relation to the Philippine society.

CAPITALISM SOCIALISM

1. An economic and political system in which 1. A political economic theory of social

a country's trade and industry and controlled organization which advocates that the means
by private owners for profit, rather by than the of production, distribution, and exchange
state. should be owned regulated by the community
as a whole.

Which of this economic system would best work in our country?

Ans: Capitalism is the world's greatest economic success story. It is the most effective way to provide
for the needs of people and foster the democratic and moral values of a free society.

Test 2: Weighing the Market

The history of Global Market brought positive and negative effects through time. At this point,
market will be assessed through our own perspective provided that you already had a good grasp of
the different concepts in economic and financial globalization. This activity will help you understand the
benefits and harms of global economic processes, structures and technologies.

1. Below are the scenarios that have to do with the economy. Discuss the major impact of these
scenarios whether they are positive or negative (for you, for the country or for the Filipinos). Justify your
answers.\

Scenario Positive Negative

You decided to purchase Hundred percent it is It is more risky

a new t-shirt through an
online shop based in
London.
branded and because my item is
original. It can boost came from other
my confidence to country I am not sure
others if it is arrived at my
prefer time of arrival.
 The Philippine
government is being
pressured by the current
economic crisis to import
rice from Taiwan and
other nearby countries in
the region.
In this case, we are But we cannot ensure
not shortage of rice the quality of rice they
since we have have and the price is
nearby countries controlled by other
that can export to country. It maybe
ours. affects our financial
budget.

The global financial crisis
has affected the
investment funds of your
mother that she can use
for her retirement.
Crisis is not at all It can adjust the
time, the expected value of my
investments of my mother’s investment
mother is still funds. She will double
growing even if it is her effort to cope up
a single centavo. In the problem, but it is
this term my mother more stressful to her.
can help the country
to fight the global
financial crisis.

Name: Milcu B. Pansaon Year/Section: 1-G

Instructor: Sir Curvin Vincent Curran Course: Bachelor of Science in Agri-Business

CONTEMPORARY WORLD

Chapter 3

Test 1: Instruction: Answer the following questions comprehensively in more than 100 but less than 150
words. (5points each):

1. Illustrate the “global” nature of multinational corporations (MNCs).

Ans: A multinational corporation has facilities and other assets in at least one country other than its
home country. A multinational company generally has offices and lor factories in different countries and
a centralized head office where they coordinate global management.

2. Do you think the positive effects of multinational corporations outweigh its negative effects? Why?

Ans: Benefits of multinational corporations create wealth and jobs around the world. Inward investment
by multinationals creates much needed foreign currency for developing economies.

3. What do you think are the ways to lessen, if not eliminate, the negative consequences of
multinational corporations?

Ans: Multinational corporation must follow what is the required by law. Like for example paying taxes,
complying business documents.

Activity: Film Viewing

The corporation is an award-winning documentary film that examines the modern-day

corporation. It assesses the corporation as a person and provides criticisms to corporate business
practices. It also describes the contemporary corporations with a clinically diagnosed psychopath. The
film serves as a learning experience for you. Since corporations are large entities, this documentary
can help you appreciate the nature of this organizations through a simple and understandable manner.
Reflection Paper

Individual paper: write a reflection paper guided by the documentary movie “the Corporation (2003)”

Get a copy and watch the movie The Corporation (2003). You may view or download it at You Tube on
the link: https://youtube/KMNZXV7jOG0

Pattern your reflection paper to the format sample attached.

Other requirements: maximum of 2 pages, I” margin on all sides, 1.5 spaced, Tahoma font style (may
not apply).

Reflection paper format:

NAME DATE

SUBJECT - COURSE/YEAR/SECTION INSTRUCTOR

TITLE

Introduction, your introduction should specify what you’re reflecting upon. Make sure that you
inform your reader about your general opinion toward your subject. State what you are analyzing: a
documentary movie, a lecture, an academic article, an experience, etc...). Briefly these summarize the
work.

Body Paragraphs, the body paragraphs should examine the ideas and experiences you’ve had
in context to your topic. Make sure each new body paragraph starts with a topic sentence. Please do
have at least 3 body paragraphs.

If you are writing about a book or an academic article, your reflection may include quotes and
passages. They give your reader a point of reference to fully understand your feedback. Feel free to
describe what you saw, what you heard, and how you felt.

Conclusion, as with any other conclusions, it is the summary of what you’ve learned from the
experience. Tell the reader how your newfound knowledge has affected your understanding of the
subject in general. Describe the feeling and overall lesson you had as a result of the reading or
experience.

There are a few good ways to conclude a reflection paper: Tie all the ideas from your body
paragraphs together, and generalize the major insights you’ve experienced.