Economics is an academic discipline that deals or studies the use of goods and services, production of these goods and services, distribution of outputs and consumption of commodities in a society. ( Mendoza & Tapang, 2001) Economics is considered to be a science because it is a systematized body of truth settled with reference to general laws and principles. It means many things to almost all people. Our decisions sometimes depend sometimes on economic considerations such as what profession or job to enter, where to work and where to live. Economics has something to do directly with us, which includes the earning of our incomes and spending our money. It also affects us indirectly. Economic policies help determine the level of production and …show more content…
(2) Power generation capacity is low while the other countries have twice to 11 times the amount of primary energy supply. (Oplas, B. S. Jr., 2015) Power generation in the Philippines is generally competitive with companies like GENCOS whacking each other. Our power transmission is a national monopoly and electricity distribution is back up to geographical monopolies, largely the 120 electric cooperatives nationwide. Unlike the electricity market in other countries like Australia (The Manila Times, 2014) the electricity market in the Philippines is a combination of competition and monopoly. Some articles say that expensive electricity is only due to the scarce resources of power plants. Or it is only being imposed by RA 9513 or Renewable Energy (RE) Act of 2008, according to Department of Energy, this is “AN ACT PROMOTING THE DEVELOPMENT, UTILIZATION AND COMMERCIALIZATION OF RENEWABLE ENERGY RESOURCES AND FOR OTHER PURPOSES” (www.doe.gov.ph) that causes additional fees. And the most cases are due to abusing of power of monopoly that has been the nature of every monopolist I think. (Oplas , B. S. Jr.,
The purpose of this essay is to argue whether "economics is a friend or a foe of ethics". A concept discussed by Norman Bowie, A.K Gavai and Milton Friedman. Before moving into further detail, what is economics and ethics all about? According to the dictionary, "economics is the science that deals with the production, distribution and consumption of goods and services or the material welfare of human kind." Whereas ethics are the "values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions".
Economy is the theory of trading something, in most cases, a currency of sorts, for a service or a good. The United States’ economy was first invented around the creation of the colonies. When the colonies declared independence from Britain, a more formal economy was developed to what it is today.the new world progressed from a small marginally successful economy to a large industrial economy by the late 18th century. Starting at trading of furs, we brought our newly found economy to light. This gave us a gate to the new superpower we didn 't know yet know about.
The economy is the collection of resources and money. Also all across the world, all countries that trade and use some sort of money. The economy includes tariffs, banking, trusts, railroads and all about the new transportation, and acts that expand the power of the federal government. Some issues with the economy that affected all people were railroad corruption, banking expansion, working conditions, trusts, and most of all, the corruption within the government. The changing economy positively impacted the common people.
By reinforcing laws and increasing the number of professional government inspectors, any loopholes and acts of bribery can be eliminated. Although regulating the carbon dioxide levels is important, nonetheless, nothing can truly be achieved if production has to stay the same while demand increases; thus, to make this scheme effective, a greener, renewable energy source is needed. Alternative energy is always a subject that is almost completely ignored by the Republicans, but mentioned by a handful of Democrats. But so far any significant effort, such
It is more expensive at the start but after you buy it it is free, so after a while you would have payed more total on gas then if you just bought a solar
Introduction In today’s world, most developing countries are in a race to build up the necessary infrastructure to scale up there operations and become the next global superpower. In this process, a lot of energy is consumed – be it for transportation, manufacturing or construction. This rapid growth of energy use seen over the past two decades have raised concerns for governments and energy-related organizations alike. Questions with regard to the supply, sustainability and exhaustion of energy sources abound, and while most developed countries have taken active steps to reduce consumption of scarce resources, the position of developing countries in this regard is still lacking.
INTRODUCTION An economic system is defined by the various processes of organizing and motivating labour, producing, distributing, and circulating of the resultant of human labour, such as merchandise and services, consumer durables , machines, tools, and other technology used as intake for hereafter production, and the infrastructure within and through which production, apportionment , and circulation occurs. These arrangements are intended by the political, cultural, and environmental conditions which they co-exist together (Gemma; 2014). In a command economic system or planned economy, the federal government controls the economy by deciding how the state would use and distribute resources. The government also regulates prices and wages
Hydropower 4) Geothermal 5) Solar All electricity sources, renewable and nonrenewable, have advantages and deficiencies. Factors are includes: • Maintenance cost • Feasibility analysis. • Initial cost.
Fossil fuels Fossil fuels are NOT a renewable energy resource it will finish up one day As once we 've burned them all, there isn 't any more, and our consumption of fossil fuels has nearly doubled every 20 years since 1900. This is a particular problem for Oil, because we also use it to make plastics and many other products Coal, Oil and Gas are called "fossil fuels" because they have been formed from the fossilized remains of prehistoric plants and animals.
Apple products so popular, it makes a lot of money. The economic environment of apple that affect consumer buying and spending and affect the wealth of an area include income distribution inflation, recession and spending patterns. A business cycle is the pattern of the level of business activity. Business activity can move from prosperity to recession to recovery.
For many years now, it has been debated which of the new and upcoming renewable and sustainable energy sources if the best to use. Energy create from wind, is a very favourable contented in this debate as it is a very good alternative energy source. Wind energy is used all around the world. Humanity has been using wind energy for over 100 years. For example, we used to (some still do) use the wind energy to grind grain in old fashioned wind mills..
It is perhaps opportunely that our government is able to push through boundaries and traditions to come up with resolutions and better policies/laws. All this time, the Philippine Economy has been deemed to have strong growth hindered by political uncertainties. This is so true. We have a potential to be great and yet we still move slow towards our development and sustainability. Our country has its own strengths and weaknesses that affect positively and/or negatively our over-all status.
Economic growth and economic development In measuring and identifying the factors that stimulate the growth of the economy of a nation such as the Republic of India, a distinction needs to be made between economic growth and economic development. For a nation to experience economic growth, there must be an increase in the gross domestic product (GDP), which is a qualitative measure of the value of all finished goods and services produced in that country within a period of time. However, economic development which is usually measured through the human development index (HDI), includes not only an increase in the output of goods and services, but an improvement in the welfare of individuals within a country.
Entrepreneurship in the Philippines is currently booming and one of the best things a person can do today is start taking action in putting up its own business or acquiring a franchise (Louren, 2017). Entrepreneurship is a state of mind. It is not identified or measured with the type of business a person is in the success of that business but rather it is the total way of life for entrepreneurs. Being an entrepreneur requires distinct personality traits such as having a risk-taking personality, need for achievement, internal focus of control, tolerance for ambiguity and having a type A behavior or striving to achieve more in less time and general competitiveness (Gilles and Mondejar, 2008). Entrepreneurship has been described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit” (www.businessdictionary.com).