ENTREP 2

ECONOMICS

 Examining how individuals

 Organizing, analyzing, and interpreting data
 Developing theories
 Ancient Greek word “oikonomia”- which literally means ‘the management of a family or a
household’.
 Greek word ‘Oikonomikos’
 This Greek word has two parts:
 ‘Oikos’ meaning ‘Home’
 ‘Nomos meaning ‘Management’
 Hence, ‘Economics’ means ‘Home Management’
 Household - has inadequate resources
 Greek word ‘Oikonomos’ means ‘to manage the house’ or management of household
Embedded in the definition are four key words:

1. Choice
2. Resource Allocation
3. Scarcity
4. Unlimited Wants

ECONOMICS AS A SOCIAL SCIENCE

 it seeks to explain the relationships between people and societies. As a matter of fact, it is the
“queen of the social sciences,” as cited by Paul Samuelson.

TWO BRANCHES OF ECONOMICS

1. MICROECONOMICS

 behavior of individual entities such as markets, firms, and households.

2. MACROECONOMICS

 overall behavior and performance of the economy as whole.

MICROECONOMICS studies…. MACROECONOMICS studies….

Buying decisions of the individual Economic growth

Consumers’ satisfaction Unemployment and inflation

Buying and selling decisions of the firm Aggregate demand and aggregate supply

The determination of prices and in markets Economic policies – fiscal and monetary

Profits International trade – exports and imports

The quantity, quality and variety of product Money supply

WANTS – desire

NEEDS – necessary for survival

GOODS – tangible

SERVICE - intangible

Goods can be categorized as:

1.ECONOMICS AND FREE GOODS

 ECONOMIC GOODS – need to invest

 FREE GOODS – free resources (land,air,sunlight)

2.DURABLE AND NON-DURABLE

 DURABLE – it can last

 NON –DURABLE =short period of time

3.INTERMEDIATE GOODS AND DINAL GOODS

 INTERMEDIATE GOODS – not use for final consumption (raw materials)

 FINAL GOODS – ready to consume (clothes, candy)

4.CONSUMER GOOD AND CAPITAL GOOD

 CONSUMER GOOD – used by consumer for personal (shampoo)

 CAPITAL GOOD – fixed asset use in the production of goods

POSITIVE ECONOMICS

 concerned “what is”

 Can be proved and disproved

NORMATIVE ECONOMICS

 concerned “what should be”

 Can't be proved and disproved
 Involve value judgement

NSTP 2
COMMUNITY

 serve together
 framed
 derived from two Latin words: namely, 'Com' and 'munis. In English,
 com means together − 'munis' means to serve.

IMMERSION

 important approach in giving service

 way of feeling others’ needs.

(Section 2, NSTP Act of 2001)

Young people are vested with the obligation “to defend the security of the State and in fulfillment
thereof, the government may require each citizen to render personal military or civil service,”
YOUTH

➢ Fatherland

EXPERIENCE is the best teacher

CONFUCIOUS – fish

INTEGRATION IN COMMUNITY IMMERSION

 Home visits
 Living with selected families
 Informal discussions with individuals or groups
 Sharing in household and community activities
 Attendance in social gatherings
 Assistance in production work

EXAMPLES OF COMMUNITY PARTNERS

1. Parents
2. The youth (in-school or out of school)
3. Differently abled constituents
4. Professionals
5. Members of people’s organization

COMMUNITY IMMERSION

 Minimum of 54 HOURS
 Maximum of 90 HOURS

MARGENALIZED SECTOR - the target clients

MARGENALIZED GROUP ARE

1. Youth
2. Women
3. Slum dwellers

All in all, voluntariness has its worth by doing it with Love. As Mother Teresa once said,

“Love cannot remain by itself – it has no meaning. Love has to be put into action; and that action is
service”

Serving the POOR in an NSTP WAY... The YOUTH become the SYMBOL OF THE GENERATIONS...