Group 1

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HOW THE GIVEN
Ingan WORDS AFFECT THE
Reyes PHILIPPINE ECONOMY
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1.SCARCITY
2.ECONOMIC RESOURCES
3.NATURAL RESOURCES
4.CAPITAL RESOURCES
5.HUMAN RESOURCES
6.NEEDS
7.WANTS
 SCARCITY
NEARLY 5 MILLION PEOPLE IN THE PHILIPPINES RELY ON UNSAFE AND
UNSUSTAINABLE WATER SOURCES AND 9 MILLION LACK ACCESS TO IMPROVED
SANITATION. DESPITE ITS GROWING ECONOMY, THE PHILIPPINES FACES
SIGNIFICANT CHALLENGES IN TERMS OF WATER AND SANITATION ACCESS. THE
COUNTRY IS RAPIDLY URBANIZING, AND ITS GROWING CITIES STRUGGLE TO
PROVIDE NEW RESIDENTS WITH ADEQUATE WATER AND SANITATION SERVICES.

•Nearly 5 million people in the Philippines rely on unsafe and unsustainable water
sources and 9 million lack access to improved sanitation. Despite its growing
economy, the Philippines faces significant challenges in terms of water and
sanitation access. The country is rapidly urbanizing, and its growing cities struggle
to provide new residents with adequate water and sanitation services.

This Photo by Unknown Author is licensed under CC BY

 WATER CRISIS SEEMS INEVITABLE AS A CONSEQUENCE OF
CLIMATE CHANGE, WHICH BRINGS ABOUT MAJOR GLOBAL
CHALLENGES. AMONG THESE ARE LOSS OF WATER DUE TO
DEFORESTATION AND EXPANSION OF AGRICULTURE;
CONFLICTS OVER BASIC RESOURCES LIKE WATER AND FOOD
EXACERBATING WATER SCARCITY AND INCREASE IN FOOD
COSTS AND FOOD SHORTAGE; NON-AVAILABILITY OF WATER
AS A MAJOR THREAT TO HABITABILITY OF MANY PLACES
THIS CENTURY; DROUGHT-SPARKED CONFLICTS OVER WATER
SUPPLY AS DOWNRIVER INHABITANTS SAFEGUARD THEIR
SHARE.
LOSS OF WATER DUE TO CLIMATE CHANGE HAS HEALTH
IMPLICATIONS. AMONG THEM: GREATER INCIDENCE OF
MALNUTRITION; AILMENTS FROM COMMON COLD TO
PNEUMONIA; RISKS OF COMMUNICABLE DISEASE
OUTBREAKS AND EVEN DEATH FROM RISING TEMPERATURE.

This Photo by Unknown Author is licensed under CC BY-SA

 ECONOMIC RESOURCES

LOW ECONOMIC MOBILITY, POVERTY AND INCOME

INEQUALITY, POOR HEALTH CARE AND NUTRITION,
AND ENVIRONMENTAL DEGRADATION ARE SOME OF
THE KEY CHALLENGES THE PHILIPPINES IS FACING
IN ITS DEVELOPMENT TRAJECTORY.

This Photo by Unknown Author is licensed under CC BY-SA-NC

 NATURAL RESOURCES
AS THE HUMAN POPULATION INCREASES AND ECONOMIES DEVELOP,
WE’RE USING MORE NATURAL RESOURCES, MATERIALS THE EARTH
PROVIDES THAT ENABLE ECONOMIC GAIN. THESE SUBSTANCES
INCLUDE MINERALS, FORESTS, WATER, FERTILE SOIL AND MORE. IN
MANY CASES, WE’RE USING THESE RESOURCES FASTER THAN
NATURE CAN REPLENISH THEM.
WHILE THE DAY WHEN THE EARTH IS COMPLETELY DRY AND
DESOLATE IS PROBABLY STILL FAR OFF, WE’RE ALREADY SEEING
SOME OF THE EFFECTS OF RESOURCE OVERUSE.

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 AVOID SINGLE-USE PLASTICS

DRIVE LESS

RECYCLE MORE AND IMPROVE

RECYCLING SYSTEMS

USE SUSTAINABLE AGRICULTURE PRACTICES

REDUCE FOOD WASTE

MAKE ELECTRICITY USE MORE EFFICIENT

This Photo by Unknown Author is licensed under CC BY-NC-ND

CAPITAL RESOURCES

CAPITAL RESOURCES CAPITAL RESOURCES ARE VALUABLE GOODS NEEDED

FOR ECONOMIC ACTIVITIES TO START AND FUNCTION. AMONG THE CAPITAL
RESOURCES ARE MONEY FOR INVESTMENTS; INFRASTRUCTURE LIKE
ELECTRICITY, ROADS AND SCHOOLS; AND ACCESS TO TECHNOLOGY (TOOLS,
MACHINERY) THAT ALLOWS BUSINESSES TO BE MORE PRODUCTIVE AND
PROFITABLE.

NEGATIVE IMPACT SINCE THE INDUSTRIAL REVOLUTION, MOST CAPITAL

RESOURCES HAVE BEEN IN EUROPE AND NORTH AMERICA. COMPANIES FROM
THESE NATIONS HAVE THEN INVESTED PART OF THIS CAPITAL IN THE
DEVELOPING COUNTRIES, MOSTLY ESTABLISHING FACILITIES FOR
EXTRACTING NATURAL RESOURCES. THIS HAS HAPPENED WITH OIL
INDUSTRIES IN THE MIDDLE EAST AND DIAMOND MINES IN SOUTH AFRICA .

This Photo by Unknown Author is licensed under CC BY-SA-NC

 IN SOME ASIAN NATIONS,
CAPITAL HAS BEEN INVESTED
IN MANUFACTURING
ACTIVITIES. SOME NATIONS
BECAME NEWLY- RECOMMENDATION
INDUSTRIALIZED COUNTRIES
Capital Regulation
AND LARGE EXPORTERS OF SUPERVISION IN EMERGING
MANUFACTURED GOODS. ECONOMIES
CHINA IS A GREAT EXAMPLE. Localization of Management
CHINA HAS ACCUMULATED
CAPITAL RESOURCES, AND IN
THE LAST TWO DECADES, HAS
BEEN INVESTING IN MANY
COUNTRIES WORLDWIDE.
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1.CAPITAL REGULATION CAPITAL REQUIREMENTS
ARE REGULATORY STANDARDS FOR BANKS THAT
DETERMINE HOW MUCH LIQUID CAPITAL (EASILY
SOLD ASSETS) THEY MUST KEEP ON HAND,
CONCERNING THEIR OVERALL HOLDINGS.
EXPRESS AS A RATIO THE CAPITAL REQUIREMENTS
ARE BASED ON THE WEIGHTED RISK OF THE
BANKS' DIFFERENT ASSETS.
2. SUPERVISION IN EMERGING ECONOMIES
SUPERVISION INVOLVES EXAMINING THE
FINANCIAL CONDITION OF INDIVIDUAL BANKS
AND EVALUATING THEIR COMPLIANCE WITH
LAWS AND REGULATIONS.
3.LOCALIZATION OF MANAGEMENT
LOCALIZATION PROJECT MANAGEMENT IS THE
PROCESS OF ORCHESTRATING LOCALIZATION
CAMPAIGNS—TRANSLATING LARGE BATCHES OF
CONTENT INTO OTHER LANGUAGES FOR USE IN
LOCALES ACROSS THE WORLD. ... LOCALIZATION
PROJECT MANAGEMENT IS A PROFESSION WHERE
HIGHLY ORGANIZED INDIVIDUALS CAN TRULY
SHINE.

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 HUMAN RESOURCES
HUMAN RESOURCES REFER TO THE HUMAN EFFORT NEEDED FOR THE
PRODUCTION OF GOODS AND SERVICES, AND SOCIETIES AND
ECONOMIES NEED HUMAN RESOURCES TO ADVANCE. THESE RESOURCES
OFTEN INCLUDE SKILLED AND UNSKILLED LABOR. ENTREPRENEURIAL
AND MANAGEMENT SKILLS ARE ALSO HUMAN RESOURCES AND REFER
TO THE ABILITY TO START AND RUN ECONOMIC ACTIVITIES.

NEGATIVE IMPACT SO HOW DO HUMAN RESOURCES IMPACT A

COUNTRY'S ECONOMY? HUMAN RESOURCES AFFECT DEVELOPMENT
AND THE EMERGENCE OF ECONOMIC ACTIVITIES, LIKE THE
TECHNOLOGY INDUSTRY. MOST OF TECHNOLOGY INDUSTRIES ARE IN
This Photo by Unknown Author is licensed under CC BY
DEVELOPED COUNTRIES WITH HIGHLY SPECIALIZED HUMAN
RESOURCES. HOWEVER, BECAUSE LABOR COSTS IN THESE COUNTRIES,
LIKE EUROPE, JAPAN AND NORTH AMERICA, ARE HIGH, MANY GOODS
ARE MANUFACTURED ELSEWHERE TO BE AFFORDABLE. IN THE 1980S
AND 90S, LOW WAGES IN PLACES LIKE INDIA AND CHINA ATTRACTED
INDUSTRIAL ACTIVITIES AND CAUSED THESE COUNTRIES TO BECOME
LARGE MANUFACTURERS OF ALL TYPES OF GOODS, MAKING THE
ECONOMIES GROW QUICKLY. HOWEVER, THE LOW SALARIES CAUSED
EXPLOITATION AND POVERTY LEVELS TO REMAIN HIGH.

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REGULATORY COMPLIANCE: TOUGHER REGULATIONS AND
SHIFTING POLITICAL CLIMATES MAKE IT CHALLENGING FOR
SOME COMPANIES TO STAY IN COMPLIANCE WITH NATIONAL,
STATE, AND LOCAL LAWS. EVEN ACCIDENTALLY STRAYING OUT
OF COMPLIANCE CAN GENERATE LAWSUITS, PENALTIES, AND
OF COURSE, POOR PRESS. IT’S ALSO IMPORTANT TO CONSIDER
PRESENT AND POTENTIAL LAWS IN ORDER TO MAKE GOOD
BUSINESS PLANS. RECRUITING EMPLOYEES AND LEADERSHIP:
AS MARKETS IMPROVE FOR WORKERS AND MANAGERS,
COMPANIES HAVE TO WORK HARDER TO RECRUIT AND RETAIN
THE BEST EMPLOYEES. BUSINESSES MAY HAVE TO WORK TO
BRAND THEIR COMPANY AS SOMEWHERE THAT GOOD
EMPLOYEES WANT TO IDENTIFY WITH AND NOT JUST TRY TO
COMPETE ON SALARY OR BENEFITS. EMPLOYEE BENEFITS: ALL
BUSINESSES NEED TO PROVIDE SOME BASIC EMPLOYEE
BENEFITS. INCREASINGLY, COMPANIES HAVE COME TO RELY
UPON THE RIGHT FRINGE BENEFITS AS A WAY TO ATTRACT THE
BEST EMPLOYEES AND REDUCE TURNOVER. THIS ADDS THE
ADDITIONAL COMPLICATIONS OF DEVELOPING USEFUL
BENEFITS PACKAGES AND ADMINISTERING THEM CORRECTLY.
NEEDS

NEEDS- IT IS IMPOSSIBLE TO HAVE OUR DREAM PHILIPPINES REALIZED UNLESS WE ALSO

BAND TOGETHER TO ADDRESS THE 6 BASIC NEEDS OF OUR PEOPLE, ESPECIALLY OF OUR
PEOPLE. THOSE NEEDS ARE: FOOD; HOUSING; HEALTH; EDUCATION; ELECTRICITY;
TRANSPORTATION. DIFFERENT PEOPLE HAVE DIFFERENT NEEDS.OUR DREAM PHILIPPINES
SHOULD ENABLE OUR POOR PEOPLE TO MEET THEIR MOST BASIC NEEDS. AROUND 12
MILLION ARE CATEGORIZED AS “EXTREMELY POOR” OR THOSE SUFFERING FROM “EXTREME
HUNGER.”
1.FOOD, THIS IS WHERE GOVERNMENT SUPPORT OR ASSISTANCE IS NEEDED THE MOST.
FILIPINO FAMILIES, WHOSE MAIN BREADWINNER EARNS ONLY A MINIMUM WAGE, ALLOT
CLOSE TO 43% OF THEIR MONTHLY INCOME TO FOOD EXPENSES. CONSIDERING THAT THE
FAMILY STILL HAS TO ALLOT MONEY FOR ELECTRICITY, TRANSPORTATION, HOUSING RENTAL,
HEALTH AND EDUCATION, THE MINIMUM WAGE LEAVES THE FAMILY IN AN EXTREMELY
DIFFICULT POSITION. OUR DREAM IS TO MAKE THAT POSITION MUCH EASIER. THERE IS NEED
FOR SOLID, EFFECTIVE ACTION IN THIS REGARD, FROM ALL SECTORS OF SOCIETY, STARTING
WITH THE GOVERNMENT.

2. ON ELECTRICITY. OUR COUNTRY IS REPORTED TO HAVE ONE OF THE HIGHEST ELECTRICITY

RATES IN THE WHOLE OF SOUTHEAST ASIA, IN ASIA, AND IN THE WORLD. THIS FACT DETERS
INVESTMENT; BUT ABOVE ALL, IT IMPOSES A HUGE BURDEN ON POOR FAMILIES. THIS DOES
NOT HELP US IN COMPETITIVENESS, EVEN RELATIVE TO THAILAND AND INDONESIA.
MOREOVER, IT IS THE POOR FILIPINO FAMILIES WHO SUFFER THE MOST, WHILE THE ELECTRIC
COMPANIES IN THE PHILIPPINES CONTINUE TO RAKE IN BILLIONS OF NET EARNINGS
ANNUALLY. SOCIAL EQUITY CONSIDERATIONS COME TO THE FORE, AND TAKING THOSE
CONSIDERATIONSSERIOUSLY WOULD PUT A GREAT ONUS ON GOVERNMENT AND OTHER
3. ON TRANSPORTATION. THE TRANSPORTATION CHALLENGE INVOLVES ECONOMIC AND SOCIAL COSTS. IT IS NOT JUST HOW MUCH TRANSPORTATION EATS INTO THE FAMILY BUDGET. IT IS ALSO, AMONG OTHERS, THE LONG LINES AND
WAITING TIMES BEFORE ONE COULD GET A RIDE IN GETTING TO AND FROM WORK. PARTICULARLY AMONG THE LOWER CLASSES IN METRO MANILA, PEOPLE WAKE UP EARLY IN THE MORNING AND COME HOME VERY LATE AT NIGHT.
THIS HAS DELETERIOUS EFFECTS ON FAMILY AND SOCIAL LIFE. INDEED, A GOOD, EFFICIENT, AND SUFFICIENT MASS TRANSPORTATION SYSTEM CAN CHANGE ALL THIS AND IMPROVE THE LIVES OF OUR WORKING PEOPLE.
4. ON HOUSING. WE HAVE SQUATTER COLONIES. PARTICULARLY IN BIG CITIES, MINIMUM WAGE EARNERS CANNOT AFFORD TO BUY DECENT HOUSING FOR THEMSELVES. THIS AFFECTS NOT ONLY THE PRIVATE WELFARE OF THOSE IN THE
LOWER CLASSES; IT ALSO IMPACTS NEGATIVELY ON SOCIAL WELFARE IN OUR URBAN AREAS. A DREAM PHILIPPINES SHOULD ENABLE EVERY FILIPINO FAMILY TO HAVE ACCESS TO DECENT, HUMANE HOUSING, CONDUC
5. ON HEALTH & EDUCATION. THESE TWO AREAS ARE OF CRITICAL IMPORTANCE TO OUR FUTURE AS A NATION, AND YET WE ARE MAKING IT DIFFICULT FOR ALL FILIPINOS TO HAVE EASY ACCESS TO EVER-IMPROVING STANDARDS OF
BOTH EDUCATION AND HEALTH. IT IS EASY TO MAKE DEMANDS THAT GOVERNMENT SHOULD PROVIDE FOR SUCH EASY ACCESS; HOWEVER, LEAVING THIS CHALLENGE TO BE ADDRESSED BY GOVERNMENT ALL BY ITSELF WOULD ONLY
MAKE THE ENTERPRISE EXPENSIVE, INEFFICIENT, AND INEFFECTIVE OVER-ALL.IVE TO A HEALTHY AND COMFORTABLE FAMILY LIFE.

SO TO RELATE WITH THE GIVEN WORD “WANTS”WE COME UP WITH THE TOPIC OF HOW CHINA WANTS TO OCCUPY MORE DISPUTED AREAS OF THE PHILIPPINES, IT REALLY DO AFFECT OUR ECONOMY BECAUSE
THAT PART OF THE PHILIPPINES ARE WHERE MOST OF THE FILIPINO GO FOR FISHING AND BECAUSE OF WHAT IS HAPPENING THEY ARE NOW AFRAID TO GO FAR THERE WHICH MADE THEM REALLY FRUSTRATED
BECAUSE THAT IS WHERE THEY GET THEIR COST OF LIVING AND WE THINK IT IS ONE OF THE MOST PROBLEM THAT OUR GOVERNMENT MUST PROVIDE ATTENTION.
ALL THE DESIRES AND ASPIRATIONS AND MOTIVES OF HUMANS ARE KNOWN AS HUMAN
WANTS IN ECONOMICS. AND THE WANTS THAT CAN BE SATISFIED WITH GOODS AND
SERVICES OF ANY KIND ARE ECONOMIC WANTS. LIKE FOR EXAMPLE FOOD, SHELTER,
CLOTHING, ETC ARE ECONOMIC HUMAN WANTS.

CLASSIFICATION OF HUMAN WANTS WE CAN CLASSIFY WANTS INTO THREE BROAD CATEGORIES IN
ECONOMICS. THESE ARE NECESSARIES, COMFORTS, AND LUXURIES. LET US TAKE A LOOK AT ALL
THREE. 1] NECESSARIES
THESE ARE THE HUMAN WANTS ABSOLUTELY ESSENTIAL FOR LIVING AND SURVIVING. FURTHER
NECESSARIES WILL DIVIDE INTO NECESSARIES FOR LIFE, FOR EFFICIENCY AND FINALLY
CONVENTIONAL NECESSARIES. FIRST AND MOST IMPORTANT WANTS ARE OBVIOUSLY NECESSARIES
FOR LIFE. THESE INCLUDE FOOD, WATER, CLOTHING, SHELTER, ETC. AND THEN THERE ARE
NECESSARIES THAT IMPROVE OUR EFFICIENCY AND WELL BEING LIKE COMFORTABLE HOUSING,
NOURISHING FOODS, ETC. FINALLY, THERE ARE CONVENTIONAL NECESSARIES THAT ARISE OUT OF
HABITS, CUSTOMS OR CONVENTIONS.
2] COMFORTS
THESE ARE THE EXTRA WANTS OF THE HUMAN AFTER NECESSARIES. THEY ARE NOT AS ESSENTIAL OR
URGENT AS NECESSARIES. COMFORTS ARE THE WANTS THAT MAKE THE LIFE OF THE HUMAN
COMFORTABLE AND SATISFYING. GENERALLY, THESE INCLUDE ITEMS THAT SAVE LABOUR ON BEHALF
OF THE HUMAN OR PROVIDE COMFORT TO HIM IN HIS LIFE. SO ITEMS SUCH AS FANS, FURNISHED
HOUSES, SPECIAL CLOTHING FOR OCCASIONS, ETC FALL UNDER THIS CATEGORY OF HUMAN WANTS.
3] LUXURIES THESE ARE GOODS THAT GIVE HUMANS PLEASURE AND PRESTIGE IN SOCIETY. THEY ARE
NOT NEEDED FOR EXISTENCE OR COMFORT BUT PROVIDE HAPPINESS AND ACCEPTANCE IN THE
WORLD. THESE WANTS MAY BE CALLED SUPERFLUOUS. AND SUCH ITEMS TEND TO BE EXPENSIVE.
SOME EXAMPLES OF LUXURIES ARE CARS, DIAMOND JEWELRY, EXPENSIVE DESIGNER CLOTHING, ACS.
AS YOU WILL NOTICE ALL THESE ITEMS ARE NOT ESSENTIAL TO OUR LIVING. THEY ARE ITEMS OF
TRIM SPENDING ON WANTS. CONSIDER DOWNSIZING YOUR WANTS IF THEY’RE
TAKING OVER YOUR BUDGET. LIMIT HOW MANY DAYS YOU DINE OUT, FOR
EXAMPLE, OR OPT FOR MORE AFFORDABLE LODGING THE NEXT TIME YOU TRAVEL.

THREE RECOMMENDATIONS
1.IDENTIFYING WANTS WANTS ARE EXPENSES THAT HELP YOU LIVE MORE
COMFORTABLY. THEY’RE THE THINGS YOU BUY FOR FUN OR LEISURE. YOU COULD
LIVE WITHOUT THEM, BUT YOU ENJOY YOUR LIFE MORE WHEN YOU HAVE THEM.
FOR INSTANCE, FOOD IS A NEED, BUT DAILY LUNCHES OUT ARE LIKELY MORE OF A
WANT.
2. BUDGETING SO HOW DO YOU START ACCOUNTING FOR WANTS AND NEEDS IN
YOUR BUDGET? BEGIN BY WRITING A LIST OF ALL THE THINGS YOU BUY. THAT
MEANS EVERYTHING FROM TOILET PAPER TO LIFE INSURANCE. THEN, GROUP
PURCHASES INTO BROAD CATEGORIES LIKE TOILETRIES, CABLE, PHONE AND
INSURANCE.
3.TRIM SPENDING ON WANTS. CONSIDER DOWNSIZING YOUR WANTS IF THEY’RE
TAKING OVER YOUR BUDGET. LIMIT HOW MANY DAYS YOU DINE OUT, FOR
EXAMPLE, OR OPT FOR MORE AFFORDABLE LODGING THE NEXT TIME YOU TRAVEL.