SOCIAL STUDIES - 2nd Quarter - QE

Social Studies – 2^nd Quarter QE

Leson 6: Labor Force Woes

Labor Force – persons aged 15 years and above who posses certain skills, abilities, talents, and maturity to be a part of the production (employed and unemployed)

Importance of Labor Force

1.        Process the raw materials

2.        Conserve and utilize the natural resources

3.        Acts as consumers

4.        Produce needed goods

5.        Operate and use machineries

6.        Give payment of taxes

Labor Force Participation Rate (%)

LFPR =     Labor Force           x 100

                                                                                                Working Age Population

*working age population = household population (15 years and above)

Employment  – situation where people have a job

Employment Rate = Employed     x 100

                      Labor Force

Underemployment – situation when the working hours of workers are less than 8 hours

Underemployment Rate = Underemployed x 100

                                   Employed

Unemployement – situation where people cannot find a job and no job is available in the market

Types of Unemployment

1.        Structural – due to decline in industries and technological advancement and change in consumer taste

2.        Seasonal – due to change of season or weather

3.        Cyclical – due to economic slowdown / crisis

4.        Frictional – occurs when people are moving from one job to another

Unemployment = Unemployed    x 100

                 Labor Force

Inward Looking Policy

                Import Substitution – needed to maintain the production processes despite some problems in foreign trade / dollar crisis

                - local materials will be maximized

Labor Woes

• Labor Contracting (probationary/contractual workers)
• Brain Drain, Brawn Drain/Effects of Migration

Brain Drain – professionals go to other countries to work or to settle permanently

Brawn Drain – labor force / workers with vocational know-how apply their knowledge in a foreign land

• Plight of OFWs
• Philippine Educational System
• Unorganized Laborers/Uneducated Workers of their Rights
 • Underskilled/Undertrained Workers
• Lack of jobs/Unemployment
• Underemployed/Misemployed Workers
• Wage Problems
• Child Labor/Trafficking (prostitution)

Attracting Foreign Investors

                Investment  - enable economy to expand its industries, businesses, and factories that will open  more job opportunities to workers

Increase in Government Expenditures for Infrastructure Projects

General Theory of Employment, Interest and Money

- infrastructure projects and investment on different projects by private sectors can provide additional jobs for the workers

- John Maynard Keynes

Classification of Workers (According to Skills)

1.        White collar job – requires more thinking

2.        Blue-collar job – require more physical effort and talents

Lesson 10: The Consumer’s Way of Thinking

Consumer – person who purchases and uses the products and services to satisfy his needs

Consumer Products – goods and services used by consumers

CHARACTERISTICS OF A CONSUMER

1.        Budget Conscious

2.        Alert

3.        Analytical

4.        Avoids panic buying

5.        Reasonable

6.        Not affected by advertisements

7.        Looking for alternative / substitute

RIGHTS OF A CONSUMER

Right to…

1.        have basic needs

2.        choose

3.        security

4.        clean and orderly environment

5.        proper information

6.        organize

*Consumerism – collaboration of consumer groups that protect the rights of the consumers

RESPONSIBILITIES OF THE CONSUMER

1.        Be alert

2.        Be vigilant

3.        Cooperate, coordinate, unite

4.        Protect the environment

5.        Patronize local products

LAWS THAT PROTECT THE CONSUMER

LAW	OTHER NAME	DESCRIPTION
RA No. 7394	The Consumer Act	-protect from hazardous products -provide education & information -involve consumer organization in policy making’ -protect from business malpractices
RA No. 7581	Price Act	-ensure correct pricing of basic commodities
RA No. 71	Price Tag Law	-products on sale should have price tags
RA No.  3452	Establishing the National Grains Authority	-NGA (gov’t agency that has the authority to buy rice from farmers and sell them at lower price) -Nat’l Food Authority / NFA (I charge of the food/rice supply of the country)
RA No. 3740	Law on Advertisement	-protect from fraudulent sales promotion and advertisement
RA No. 6675	Generics Act of 1988	-promotes, encourages use of generic name on drugs -aims adequate supply of drugs at lowest possible cost
Article 1546, Civil Code of the Philippines	Law on Sales	-guarantees that there are no hidden defects on products
Article 2187, Civil Code of the Philippines	Law on Extra Contractual Obligations	-producer is liable for any damage/danger to human body, health and life of consumer
Article 188, Revised Penal Code	Law on Trademark	-penalizes those who will use brand, container, wrapper of the product

GOVERNMENT AGENCIES AND PRIVATE SECTORS THAT IMPLEMENT THE CONSUMER ACT

	GOVERNMENT AGENCY	DESCRIPTION
DTI	Department of Trade and Industry	-quality, safety, weighing and measuring, labeling, of price, packaging, and warranties of the product
DOH	Department of Health	-with BFAD (Bureau of Food and Drugs) -accepts complaints about food, drugs, cosmetics
DOE	Department of Energy	-defective devices of gas tanks and LPG, other malpractices of gas dealers
DA	Department of Agriculture	-quality of agricultural products
DepEd	Department of Education	-proper dissemination of information and consumer education
LGU	Local Government Units	-monitor prices of goods and services
	Print and Broadcasting Companies	- mass media

Consumption – buying and using goods and services to satisfy our human needs

Production – respond to what people will buy and use

If there is no consumption, there is no production.

FACTORS THAT INFLUENCE OUR CONSUMPTION

1.        Advertisements

bandwagon effect – makes people join the rest in patronizing the product

testimonial – presents endorsement made by a well-known personality

2.        Prices

3.        Income

4.        Occasion

5.        Imitation / Bandwagon Effect

6.        Values

7.        Seasons

TYPES OF CONSUMPTION

1.        Productive

2.        Wasteful

3.        Direct

4.        Harmful

LAWS OF CONSUMPTION

LAW	DESCRIPTION
Law of Economic Order	- giving priority to basic needs
Law of Variety	- we have greater satisfaction of we use variety of products
Law of Diminishing Utility	- UTILITY – satisfaction achieved in consuming goods and services Marginal Utility – added satisfaction -principle that limits consumption and makes it predicatable Total Utility – entirety of satisfaction
Law of Harmony	- buy products that complement each other
Law of Imitation	- we imitate what our idols buy

CLASSIFICATION OF STANDARD OF LIVING

                Standard of Living – quality and quantity of products consumed b individuals for satisfaction

1.        Poverty Standard

2.        Bare-living Standard

3.        Decency Standard

4.        Comfort standard

5.        Luxury Standard