Professional Documents
Culture Documents
and Politics
Module 6
Objectives;
Analyze economic organizations and their
impacts on the lives of people the society.
Evaluate how functions of education affect
the lives of people in society.
Respect different belief system and religion.
Institutions are society’s building blocks. These
formal organization defined the
purpose and established by people, constitute
the very foundation of society. The five
primary social institutions include;
1. Family
2. Government 3. Economy 4. Education
5. Religion
ECONOMY
What is economy?
An economy is an area of the production,
distribution and trade, as well as consumption
of goods and services. In general, it is defined
as a social domain that emphasize the
practices, discourses, and material expressions
associated with the production, use, and
management of scarce resources.
Some other Functions of
Institutions
Economic Institutions
Reciprocity
In cultural anthropology,
reciprocity refers to the non-
market exchange of goods or
labour ranging from direct
barter to forms of gift exchange
where a return is eventually
expected as in the exchange of
birthday gifts.
Example;
A salesperson giving a
freebie to a potential
customer, hoping that it
will lead them to return
the favor by purchasing
something.
Transfer
to move to a different place, region, or situation
especially : to withdraw from one educational
institution to enroll at another. 2 : to change
from one vehicle or transportation line to
another.
example;
transfer a
money
Redistribution
In cultural anthropology and sociology,
redistribution refers to a system of economic
exchange involving the centralized collection
of goods from members of a group followed by
the redivision of those goods among those
members. It is a form of reciprocity.
example;
Market transaction
A market transaction may involve goods,
services, information, currency, or any
combination of these that pass from one party to
another. In short, markets are arenas in which
buyers and sellers can gather and interact. Two
parties are generally needed to make a trade.
Example;
the seller offers the customer a
product that initially, they have no
intention to purchase. Their job is to
convince the customer to buy the product
by assuring its utility and price.
Example;
Market
market, a means by which the exchange of
goods and services takes place as a result of
buyers and sellers being in contact with one
another, either directly or through
mediating agents or institutions.
Example;
Example:
For example, clothing stores that
advertise new fashions and garments
that customers can purchase
immediately in their stores can be
classified as business-to-consumer
companies.
banks &
corporation
What is bank?
1. Commercial banks
2. Central Banks
Commercial bank
Typically private and profit
oriented.
Examples:
Central Banks
Public sector institution dealing mainly
with national governments, with other
commercial banks, and other central
banks .
Example:
Examples:
Education
What is Education?
Educational institution keep
children and youth occupied and
out of labor force.
Education in the Philippines
1945-2011 the basic education system was
composed of:
• elementary education - 6 years
• High school education - 4 years
• further education