Analyzing The Effects of Contemporary Issues Affecting The Filipino Entrepreneur Practice Task 1

ANALYZING THE EFFECTS OF CONTEMPORARY ISSUES AFFECTING THE
FILIPINO ENTREPRENEUR
PRACTICE TASK 1:
1. Purchasing power is important because, all else being equal, inflation decreases
the number of goods or services you would be able to purchase.Purchasing
power affects every aspect of economics, from consumers buying goods to
investors and stock prices to a country’s economic prosperity. When a currency’s
purchasing power decreases due to excessive inflation, serious negative
economic consequences arise, including rising costs of goods and services
contributing to a high cost of living, as well as high interest rates that affect the
global market, and falling credit ratings as a result. All of these factors can
contribute to an economic crisis.
2. • Taxes –various level of government units imposes numerous taxes (business
permits, real estate taxes, sales taxes, value-added taxes, income taxes and
taxes on traded goods and services) which make the cost of business operations
increase and will be able to threaten the profitability of business enterprises at
their initial stage of operation.
• Rentals – in the layman’s concept, rent is payment for the use of land or
buildings belonging to others. It is the compensation made to the owner of such
land or building. From the point of view of economics, rent refers to a payment
made to or for a production over and above the amount expected by its owner.
Economic rent exists duet to market imperfections. Without market imperfections,
there would be no need for payment of rent.
• Investment and interest rate – savings and investment are necessary to sustain
the economy’s productive capacity. However, inflation is a wreaking havoc on the
millions of savings of the Filipinos. With interest rates below the rate of inflation,
you are in fact losing money.
• Wage – There are many people who have no jobs. Unemployment is high in the
country. One point noted is the quality and experience of the manpower
3. Entrepreneurs can survive in this pandemic that has affected the economy of the
whole world. The success or failure of these businesses depends on how owners
take the initiative to survive this period. it is evident that business owners should
maintain a connection with their customers, utilize the internet, be flexible with
market trends, connect with other entrepreneurs, and above all check their
mental health. If these strategies are well applied the entrepreneurs will survive
and emerge better even after the pandemic
4. At times, the hardest time to improve is when things are not broke. Things go
good for a while and it might not appear broke. There are lingering problems or
techniques that need adjusting. I ask myself at times how I can improve my
customer relations. I don’t fix something that isn’t broke, but I will ask myself to
improve what is already there. Good stock market investing systems that are not
broke might need adjusted from time to time. The time to do it is when things are
not broke. If you wait until things are broke, it is too late to profit and limit losses.
There is a fine line between fixing something that is not broke and improving an
about to be broke investment, business, real estate venture, or relationship.
Many times it is too late and people are looking in the rear view mirror and
wished they were more proactive.
REFLECTION:
1. I prefer globalization because it allows people, goods, services, ideas,
languages, information, and commodities to flow across national borders all the
time. The effect of globalization is that the world is becoming increasingly smaller
as we all become more and more connected. Globalization creates more winners
than losers.
2. Yes Without globalization there would be no access to foreign products as
globalization is the cross-border flow of goods, capital, labor etc. Without
globalization no sales to the global market and in the restaurants are only local
dishes and drinks. And the internet would only show local products – if it existed
at all – which are made with local resources. I feel sorry for those that have no
iron ore, rare earth, wine, vegetables, flood, lithium etc. Ok, only three countries
have the resources for batteries- and none of them has a computer or
smartphone factory. Our world is powered by globalization! Our live is based on
transport, the division of work and global market.
3. For now, no I think 5 years from now I can see that I will live in this country
smoothly. But I’m not going to say not I'm not, I’m just going to follow the flow of
my life.
EVALUATION:
A.
1. Labor Migration
2. Brain Gain
3. Brain Drain
4. Deglobalization
5. Transnational Companies ( or TNCs )
B.
6. ✓
7. ×
8. ×
9. ×
10. ✓

Analyzing The Effects of Contemporary Issues Affecting The Filipino Entrepreneur Practice Task 1

Uploaded by

Copyright:

Available Formats

Analyzing The Effects of Contemporary Issues Affecting The Filipino Entrepreneur Practice Task 1

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Analyzing The Effects of Contemporary Issues Affecting The Filipino Entrepreneur Practice Task 1

Uploaded by

Copyright:

Available Formats

ANALYZING THE EFFECTS OF CONTEMPORARY ISSUES AFFECTING THE

You might also like