• Sole institution that handles all the production,

consumption, and the trade of goods in our society or

what we call “market”.
• Branch of social science concerned with the
distribution, production, and consumption of goods
and services.
• Study of how people allocate scarce resources for
production, distribution, and consumption.
 Extract raw It focuses on The service
materials from our manufacturing industry.
environment. finished goods. Example:
entertainment,
Example: Example: smelting, transportation,
agriculture, fishing construction distribution.

Primary Sector Secondary Tertiary Sector

Sector
• Separate markets for the same
product become one single
market.
• Goods and services that are
somehow related to one another
being to experience similar
patterns of increase or decrease in
terms of the prices of those
product
• An economic and political • An economic and political
systems which means of systems which means of
productions are privately productions are publicly
owned. owned.
• Consumer priced are based • Production and consumer
on a free market of supply prices are controlled by the
and demand government.
• Criticized for income • From each according to his
inequality and socio- ability, to each according to
economic classes his contribution.

Primary Sector Tertiary Sector

• Designed by John Maynard Keynes and Harry Dexter
White
• Created for efficient foreign exchange system to prevent
the devaluation of currencies.
• International Monetary Fund (IMF) and World Bank
1. Currencies were pegged to US dollars value
2. Agreement of Monetary Authorities
3. Establishment of International Monetary Fund
4. Eliminating Restrictions
• To promote global economic growth and financial stability,
encourage international trade, and reduce poverty around the
world.
• It was originally created to introduce fixed exchange rate, but
when Brentwood collapse it promoted the float exchange rate.
• IMF makes loans to countries that are experiencing economic
distress to prevent financial crisis.
• Dedicated to provide financing advice and aid for
economic advancement to developing nation.
• World bank approved 500 million US dollar loan for the
Disaster Risk Management and 100 million US dollar
for PH Covid-19 response.
• Improve global economy and promote world trade.
• Provides forum in which government can share experiences and
ideas to solve common problems.