Lesson 1.

The Economy as a Social Institution

A. Define economy. (1 point for content)

An institution in society that focuses on production, distribution, and consumption of goods and
services.

B. Explain the economy as an important social institution. (2 points for the content)

Economy is important because it produce and distributes good and services to the people in order
to survive. It is important because it manages all the resources we got and so we will not have
food shortage in terms of disaster or calamity.

Lesson 2. Types of Distribution Systems

A. Define distribution. (1 point for content)

Distribution is the allocation of goods among the different groups or individuals in the
society.

B. Fill in the table with information about the forms of distribution. (1 point for content per

answer; total of 11 points)

Forms of Distribution Description Example (how each form is

practiced in the Philippines)

1. Reciprocity The exchange of When it is Christmas, people in the

products or gifts between
individuals or groups
symbolizing relationship
while also satisfying
needs and wants
Philippines exchanged gifts. Also
when your uncle needs your help and
you gave him money, your uncle gave
you money when his financial
problem is solved.

a. Generalized
It usually occurs between Parents in the Philippines are
individuals who are expected to feed their children and let
expected to have them go to school at appropriate age.
emotional attachment to
each other and thus are
obligated to help one
another based on relative
 need.

b. Balanced
It involves the transfer of
products from a donor to
a recipient wherein the
donor expects a return of
relatively equal value.
When someone help you, you have to
return the favor back to someone who
helped you in the Philippines like
when your friend gave you money for
your business, you should repay your
friend for his help.

c. Negative
Both parties attempt to
gain all they can from the
exchange while giving up
as little as possible.
Businessman pay little money to the
farmers while they sell it at almost 10
times the price they bought it to the
cities in the Philippines.

2. Redistribution It is the centralization of In the Philippines, when people gives

goods to an authority tax, the tax is then used to build
through tribute or taxation facilities or is given to the senior
systems and their citizens of the country.
allocation later to the
groups and individuals
withing its jurisdiction.

3. Market Exchange Goods and services are In the Philippines, we go to merkado

exchanged in the market (market) to buy meat products and
and involves the use of vegetables.
money in the transaction.

Note: give examples that are not in the book

Lesson 3. Historical Overview

A. Show the major characteristics of the 3 technological revolutions through pictures. Label
each picture and its contribution to the society. (relevance of the pictures to the topic – 2
points, sufficient number of characteristics presented – 2, accuracy of label/caption 2
points; total = 6 points)
 B. Sectors of the Economy

Fill in the table with information about the sectors of the economy. (1 point per answer; total of
8 points)
Sectors of the Definition Examples (1 specific economic activities
Economy per sector)

Primary Those directly producing or Farming

procuring raw material.

Secondary Those that transform raw material Forging weapons

to manufactured goods.

Tertiary Involves services rather than Delivering foods

goods.

Informal Operates outside the formal Construction working

economic structure

Lesson 4. Economic Systems

A. Fill in the table with salient features of the economic systems.(1 point for definitions, 2
points for distinct features; total of 9 points)
 Economic Systems Definition Distinct Features

1. Capitalism Economic system wherein

natural resources and the
means of production are
privately-owned

2. Socialism Economic system wherein

natural resources and the
means of production are
collectively-owned

3. Communism An ideal system wherein

all members of the society
are equal in all aspects of
life.

B. Read about leading countries that practice the two general economic systems – capitalism and
socialism.
1. Give two examples of countries per economic system. Compare them in terms of their
economic status and economic rules and practices as capitalist or socialist countries. (1
point for content about per country; total of 4 points)

________________________________________________________________________
________________________________________________________________________
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2. Give your opinion as to which economic system is the best and explain your answer.
(2 points for the content/explanation)

________________________________________________________________________

________________________________________________________________________

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Lesson 5. Non-State Institutions

A. Make a concept map showing the non-state institutions. (1 point for content, 2 points for
accuray; total of 3 points)

Lesson 6. Children and the Economy

A. Show through pictures the role of children in the economy (4 pictures). Give a caption to
each picture. (2 points for complete number of pictures, 2 points for labels/caption;total
of 4 points)