Consumer: One that utilizes economic goods, which directly satisfy his wants or desires. The consumer is constantly faced with different choices regarding this.
Consumer Behavior: studies why consumers constantly make choices in satisfying their wants; and how they behave and decide in making their purchases.
Consumer Function: Refers to the level of consumer expenditures to national income originally believed to be constant but subsequently held to fluctuate under various conditions.
Consumer Sovereignty: The economic power exercised by the preferences of consumers in a free market.
Utility: The satisfaction that an individual would derive in consuming a good or service. This depends of course on the one who is consuming a certain good.
Utils: Unit of measurement of utility.
2 Approaches in Measuring Utility:
1.) Cardinal Approach: Measures by assigning numerical values; 1,2,3,4 and so on.
2.) Ordinal Approach: Measures in terms of rank. Highest to lowest, best to worst.
Law of Diminishing Marginal Utility:
Total Utility (TU): Refers to the total satisfaction derived from consuming specific quantities of a good.
Marginal Utility (MU): Refers to the additional satisfaction derived from consuming an additional unit of good per unit of time.
When faced by a multitude of choices, consumers may prefer some goods to others, or they may be indifferent to them.
Indifference Analysis: useful method for analyzing consumer preferences.
Close Substitutes: Product that provides an almost or equal level of satisfaction as that of the substituted good or service. A pili nut may be a close substitute for peanuts.
Weak Substitutes: Provide a weak or lower level of satisfaction as that of the substituted commodity. A bamboo pole is a week substitute for an iron bar for construction use.
Saturday, July 17, 2010
Saturday, July 3, 2010
Handout on Economics / Health Eco (1st Lesson)
Economics: A social science concerned with using scarce resources to obtain maximum satisfaction of the unlimited material wants of society. Derived from the Greek terms oikia (household) and nomos (management). It has 4 components: production, income, employment and consumption.
Scarcity: Imbalance between the individual's desires and the means of satisfying those desires.
Natural / Free Good: Those endowed to us by nature of which no expense is involved.
Economic Good: Commodity or service that is useful to human beings but must be paid for.
Wants: a person's desires or preferences for specific ways of satisfying a basic need. (Basic = essential; Created = improvement of basic wants.)
*wants exceed resources necessary to obtain them
*therefore we must make choices
*choices lead to cost
Opportunity Cost: Monetary or other advantages surrendered for something in order to acquire it in competition with other potential users.
DIVISION OF ECONOMICS
Macroeconomics: Study of economic systems as a whole especially with reference to its general level of output. It considers consumers as a unit; focused on the structure and function.
Microeconomics: Study of individuals and small groups, particular households, firms. It studies economy in terms of individual areas and consumer behavior.
Fundamental Economic Questions:
1.) What goods and services must be produced and how much is to be produced?
2.) How shall these goods and services be produced?
3.) Who shall receive and use these goods and services?
4.) Is the economy’s capacity to produce developing over time?
ECONOMICS AND OTHER SCIENCES
1.) Geography – Economics development of society is always dependent on geographical factors.
2.) History – Historical events usually are heavily influenced by economic phenomena.
3.) Geology – Geological data is important on economic products such as petroleum and minerals.
4.) Politics – Economic decisions are always influenced by governmental policies.
5.) Home Economics – Development of subjects and practical skills necessary for good home management and family life.
6.) Sociology and Anthropology – Economic developments and consumer behavior are always influenced by cultural factors.
7.) Philosophy – Economists are guided by logical, ethical and moral principles when they formulate methods of organizing the economy.
8.) Mathematics – Algebraic symbols, variables and geometry can be used to formulate assumptions.
9.) Statistics – provides comparative data to help understand the complexities of a given economic condition.
10.) Psychology – Consumer behavior is heavily influenced by the individuals’ instincts and mental processes.
11.) Natural / Physical Science – Natural resources are needed to produce economic goods.
ECONOMIC SYSTEMS
1.) Capitalism: Economic system in which private individuals are free to invest their savings, purchase goods and hire labor as they wish to develop their enterprise.
a.) Pure – or laissez faire means that the government should not intervene with economic decisions.
b.) Modified – Government intervenes and regulates business up to a certain extent.
Rights: Private property, profits, business decisions and choice.
2.) Socialism: Aims at a collective or governmental ownership and administration of the means of production and control of the distribution of goods.
3.) Mixed Economies: Based on a mixture of public and private ownership of the means of production, and on a considerable public regulation of the business sector.
4.) Welfare States Economy: Ownership of income-producing property and its economic equivalent is widely diffused.
ECONOMIC RESOURCES / FACTORS OF PRODUCTION
1.) Land: All natural resources.
2.) Labor: Human activity that produces the goods or provides the services in demand in an economy.
3.) Capital: Any accumulated factors of production utilized to aid in the production of other goods.
4.) Entrepreneurial Ability: Needed to organize, own, promote, manage and assume the risks of business endeavour and to implement right decisions.
*Land and capital are considered property resources while Labor and entrepreneurial ability are human resources.
Economic Development refers to the transformation of natural resources into ever-more valuable processed goods and improvement of services, and the marketing of them. Hence, according to the constitution, it must be the attainment and promotion of the following:
1.) Better quality of life
2.) Gainful employment
3.) Economic Efficiency
4.) Price level stability
5.) Economic Freedom
6.) An equitable distribution of opportunity, income and wealth.
7.) Economic Security
Scarcity: Imbalance between the individual's desires and the means of satisfying those desires.
Natural / Free Good: Those endowed to us by nature of which no expense is involved.
Economic Good: Commodity or service that is useful to human beings but must be paid for.
Wants: a person's desires or preferences for specific ways of satisfying a basic need. (Basic = essential; Created = improvement of basic wants.)
*wants exceed resources necessary to obtain them
*therefore we must make choices
*choices lead to cost
Opportunity Cost: Monetary or other advantages surrendered for something in order to acquire it in competition with other potential users.
DIVISION OF ECONOMICS
Macroeconomics: Study of economic systems as a whole especially with reference to its general level of output. It considers consumers as a unit; focused on the structure and function.
Microeconomics: Study of individuals and small groups, particular households, firms. It studies economy in terms of individual areas and consumer behavior.
Fundamental Economic Questions:
1.) What goods and services must be produced and how much is to be produced?
2.) How shall these goods and services be produced?
3.) Who shall receive and use these goods and services?
4.) Is the economy’s capacity to produce developing over time?
ECONOMICS AND OTHER SCIENCES
1.) Geography – Economics development of society is always dependent on geographical factors.
2.) History – Historical events usually are heavily influenced by economic phenomena.
3.) Geology – Geological data is important on economic products such as petroleum and minerals.
4.) Politics – Economic decisions are always influenced by governmental policies.
5.) Home Economics – Development of subjects and practical skills necessary for good home management and family life.
6.) Sociology and Anthropology – Economic developments and consumer behavior are always influenced by cultural factors.
7.) Philosophy – Economists are guided by logical, ethical and moral principles when they formulate methods of organizing the economy.
8.) Mathematics – Algebraic symbols, variables and geometry can be used to formulate assumptions.
9.) Statistics – provides comparative data to help understand the complexities of a given economic condition.
10.) Psychology – Consumer behavior is heavily influenced by the individuals’ instincts and mental processes.
11.) Natural / Physical Science – Natural resources are needed to produce economic goods.
ECONOMIC SYSTEMS
1.) Capitalism: Economic system in which private individuals are free to invest their savings, purchase goods and hire labor as they wish to develop their enterprise.
a.) Pure – or laissez faire means that the government should not intervene with economic decisions.
b.) Modified – Government intervenes and regulates business up to a certain extent.
Rights: Private property, profits, business decisions and choice.
2.) Socialism: Aims at a collective or governmental ownership and administration of the means of production and control of the distribution of goods.
3.) Mixed Economies: Based on a mixture of public and private ownership of the means of production, and on a considerable public regulation of the business sector.
4.) Welfare States Economy: Ownership of income-producing property and its economic equivalent is widely diffused.
ECONOMIC RESOURCES / FACTORS OF PRODUCTION
1.) Land: All natural resources.
2.) Labor: Human activity that produces the goods or provides the services in demand in an economy.
3.) Capital: Any accumulated factors of production utilized to aid in the production of other goods.
4.) Entrepreneurial Ability: Needed to organize, own, promote, manage and assume the risks of business endeavour and to implement right decisions.
*Land and capital are considered property resources while Labor and entrepreneurial ability are human resources.
Economic Development refers to the transformation of natural resources into ever-more valuable processed goods and improvement of services, and the marketing of them. Hence, according to the constitution, it must be the attainment and promotion of the following:
1.) Better quality of life
2.) Gainful employment
3.) Economic Efficiency
4.) Price level stability
5.) Economic Freedom
6.) An equitable distribution of opportunity, income and wealth.
7.) Economic Security
Tuesday, March 16, 2010
Handout for EU100d / EU 104: PRAYER
PRAYER – from the Latin precari, meaning “to request”. It is a form of religious practice that seeks to activate a volitional connection to some greater power in the universe through deliberate intentional practice. It may be directed towards a deity, spirit, deceased person, or lofty idea, for the purpose of worshiping, requesting guidance, requesting assistance, confessing sins or to express one's thoughts and emotions. Thus, people pray for many reasons such as personal benefit or for the sake of others. Christians generally also pray to other deities in heaven, like the Virgin Mary or the Saints to intercede by praying on their behalf. However, the final recipient of prayer is still God.
Beliefs Underlying Prayer:
1.) The finite can communicate with the infinite.
2.) The infinite is interested in communicating with the finite.
3.) Prayer is intended to inculcate certain attitudes in the one who prays, rather than to influence the recipient.
4.) Prayer is intended to train a person to focus on the recipient through philosophy and intellectual contemplation.
5.) Prayer is intended to enable a person to gain a direct experience of the recipient.
6.) Prayer is intended to affect the very fabric of reality as we perceive it.
7.) Prayer is a catalyst for change in one's self and/or one's circumstances, or likewise those of third party beneficiaries.
8.) The recipient desires and appreciates prayer.
Prayer as God’s Gift: It is a gift because it is not something we can do by ourselves. This gift is given to everyone generously without consideration of worthiness, as both sinners and saints, the weak and the strong, can pray. In this sense, a prayer is something that we can choose to accept or not, but is offered by God anyway. Hence, there is no compulsion; there is the participation of free will, one of the things that separate us from animals, prayer is something that is reserved for only us human beings.
Prayer as God’s Covenant: Since a covenant is an agreement with God, prayer helps to realize this by establishing meaningful communication with Him. It is the agreement that is further professed in other prayers, such as the Apostles’ Creed, which is the realization of immortal life, the freedom from suffering and death.
Prayer as Communion: Communion is derived from the Greek term koinonia, which means “spiritual relationship.” Thus, in this sense, prayer enables us to be one not only with the Christian community, but also with all of God’s creation, realizing the intrinsic unity amidst the diversity among all creatures. This also means that taking the Holy Communion—the body and blood of Christ—one recognizes and appreciates Jesus’ supreme sacrifice for the forgiveness of sins. And in doing so, the faithful again becomes one, communes with, all creation.
Vocal Prayer: Prayer that is made of prepared formulas. It may be compared to the speech a bright schoolboy memorizes and delivers in honor of some visiting civil or ecclesiastical dignitary.
3 kinds of attention that can be given to vocal prayer:
1.) Superficial - principally concerned with the correct and distinct pronunciation of each word.
2.) Literal - chiefly interested in the meaning conveyed by the words.
3.) Spiritual - the mind is centered primarily on God and divine things.
Meditation: A holistic discipline by which the practitioner attempts to get beyond the reflexive, "thinking" mind into a deeper state of relaxation or awareness. It is self regulation of attention, in the service of self-inquiry, in the here and now.
2 kinds of meditation:
1.) Mindfulness Meditation - the meditator sits comfortably and silently, centering attention by focusing awareness on an object or process; usually encouraged to maintain an open focus.
2.) Concentration Meditation - the meditator holds attention on a particular object while minimizing distractions; bringing the mind back to concentrate on the chosen object.
Contemplative Prayer: A meditative practice where the practitioner focuses on a word and repeats that word over and over for the duration of the exercise. It can also be repetitive chanting, breathing in a controlled manner or silent concentration to quiet the thoughts and feelings and commune with God.
Tuesday, February 9, 2010
Handout for EU100D / EU104
Integral Values of a Person
- Those that help a person realize entirety.
1.) Recognizing that there are multiplicity of values. (objective, moral, personal, social, work, technological, historical etc.)
2.) Say YES to meaning. - Create or find meaning in how you live.
3.) Contribute to the Larger Community. - There is no separation.
4.) Practical Balancing.
5.) The Now, Forward Movement, and Acceptance. - Acceptance that this moment is full of possibilities that would be realized if you move forward.
Necessity / Need for Faith - it enables us to move forward and to realize the ultimate sense of things.
Faith as A Personal Act - Free response of a person to the initiative of God who reveals Himself. (personal but not isolated)
Faith of the Church - involves humility and generosity, adherence to the truth.
*Note: Pleas do review the 10 Commandments.
- Those that help a person realize entirety.
1.) Recognizing that there are multiplicity of values. (objective, moral, personal, social, work, technological, historical etc.)
2.) Say YES to meaning. - Create or find meaning in how you live.
3.) Contribute to the Larger Community. - There is no separation.
4.) Practical Balancing.
5.) The Now, Forward Movement, and Acceptance. - Acceptance that this moment is full of possibilities that would be realized if you move forward.
Necessity / Need for Faith - it enables us to move forward and to realize the ultimate sense of things.
Faith as A Personal Act - Free response of a person to the initiative of God who reveals Himself. (personal but not isolated)
Faith of the Church - involves humility and generosity, adherence to the truth.
*Note: Pleas do review the 10 Commandments.
Monday, February 8, 2010
Midterm Handout for EU 100b
HANDOUT FOR EU100b
Personal Hygiene – Principle of maintaining cleanliness and grooming of the external body.
Poor Personal Hygiene
1.) Increased risk of infection and illness.
2.) Can have significant implications on the success of careers.
Conditions Affecting Personal Hygiene Maintenance
1.) Physical Conditions – Certain disabilities prevent a person from maintaining an acceptable level of hygiene.
2.) Psychological Conditions – Any mental health problem can affect a person’s ability and motivation for caring for their hygiene needs.
3.) Social Factors – Lack of resources can result in individuals becoming unkempt in hygiene.
Importance of Good Personal Hygiene
1.) Personal – People being conscious of their hygiene needs.
2.) Social – Ensuring hygiene enables people to be more assured of projecting a positive image.
3.) Health – Though of being vulnerable and exposed to sickness can affect hygiene.
4.) Psychological – By being tidy and well-presented, people can feel more confident especially in social situations.
Tips for Proper Hygiene
1.) Body Odor – One of the most anti-social occurrences in modern times, caused by excessive sweating and bacteria.
*Sweat – Part of the body’s natural cooling process.
Treatment: The cheapest and simplest way is washing frequently or bathing. Anti-perspirants and deodorants may also be used.
2.) Eye
*Conjunctivitis – A very common infection caused by inflammation of the membranes that cover the white of the eye, also known as conjunctiva. Almost all eye infections can be prevented by frequent hand-washing, attention to correct cleaning of eyewear and other instruments used on the organ.
3.) Common Foot Problems
a.) Bunions - are bumps that develop around the main joint of the big toe usually caused by ill-fitting shoes.
b.) Verrucas – Circular areas of hardened skin that occur in the base of the foot between the toes.
c.) Corns and Calluses – Caused by an accumulation of dead skin at areas of pressure, and appear as hardened thick skin that can be very rough to touch.
d.) Foot Odors – Caused by poor foot hygiene and/or incorrect footwear. Washing feet and drying it properly at least twice a day may reduce bacteria build-up. Wearing comfortable footwear and cotton socks also help.
e.) Athlete’s Foot – Highly contagious fungal infection that requires treatment from anti-fungal preparation.
f.) Toenails – Incorrect trimming can cause the nail to become embedded in the toe.
4.) Head and Hair Hygiene
a.) Dandruff – is a disorder of the scalp that causes itching and flaking of the skin. It is due to the excessive production of a fungus called Pytyrosporum Ovale which lives on our skin all the time.
Treatments:
- Change cleaning products, limit or discontinue the use of styling products.
- Use products anti-dandruff continually.
- Sometimes, experts may recommend the use of zinc pyritheone or selenium sulfide.
- Watch for additional symptoms like soreness or crusting, this may indicate a different problem like ringworm or psoriasis which requires different treatment.
Prevention:
- Gently massage the scalp while shampooing.
- Limit the use of hair products that irritates the scalp.
- Good diet rich in vitamin B6
b.) Greasy Hair
- Build-up of grease can also occur due to over-washing.
- Hormones can play a role in the production of oils on the hair.
- Environmental factors like pollutants.
- Over-use of styling products.
Treatments:
- Use a suitable shampoo.
- If hair seems greasy after washing, try to wash it less often to allow its natural balance to return.
c.) Brittle Hair – Strong sign that hair is not in good health because of easy and frequent breakage.
d.) Hair Loss – Due to genetic reasons, stress or diet.
e.) Damage to the Hair and Scalp
- Mechanical Reasons
- Chemical Damage
- Environmental Reasons
- Thermal Appliances
- Straighteners, curling tongs and hair dryers.
5.) Genital Hygiene
a.) For Women: Over-cleaning of the vagina can be harmful as it tends to lose its natural chemical balance. The inside of the vagina rarely needs cleaning. External genitalia, the labia, should be cleaned only once a day with mild soap and water. This area should also be cleaned after sexual intercourse.
b.) For Men: The penis and scrotum should only need cleaning once a day. No attempt should be made to clean the urethra as it may cause injury. For uncircumcised men, special care must be taken to make sure the head of the penis is clean or smegma collection may occur.
This are should also be cleaned after sexual intercourse to prevent bacterial build-up. Wearing loose-fitting underwear can also reduce sweating and perspiration build-up.
Personal Hygiene – Principle of maintaining cleanliness and grooming of the external body.
Poor Personal Hygiene
1.) Increased risk of infection and illness.
2.) Can have significant implications on the success of careers.
Conditions Affecting Personal Hygiene Maintenance
1.) Physical Conditions – Certain disabilities prevent a person from maintaining an acceptable level of hygiene.
2.) Psychological Conditions – Any mental health problem can affect a person’s ability and motivation for caring for their hygiene needs.
3.) Social Factors – Lack of resources can result in individuals becoming unkempt in hygiene.
Importance of Good Personal Hygiene
1.) Personal – People being conscious of their hygiene needs.
2.) Social – Ensuring hygiene enables people to be more assured of projecting a positive image.
3.) Health – Though of being vulnerable and exposed to sickness can affect hygiene.
4.) Psychological – By being tidy and well-presented, people can feel more confident especially in social situations.
Tips for Proper Hygiene
1.) Body Odor – One of the most anti-social occurrences in modern times, caused by excessive sweating and bacteria.
*Sweat – Part of the body’s natural cooling process.
Treatment: The cheapest and simplest way is washing frequently or bathing. Anti-perspirants and deodorants may also be used.
2.) Eye
*Conjunctivitis – A very common infection caused by inflammation of the membranes that cover the white of the eye, also known as conjunctiva. Almost all eye infections can be prevented by frequent hand-washing, attention to correct cleaning of eyewear and other instruments used on the organ.
3.) Common Foot Problems
a.) Bunions - are bumps that develop around the main joint of the big toe usually caused by ill-fitting shoes.
b.) Verrucas – Circular areas of hardened skin that occur in the base of the foot between the toes.
c.) Corns and Calluses – Caused by an accumulation of dead skin at areas of pressure, and appear as hardened thick skin that can be very rough to touch.
d.) Foot Odors – Caused by poor foot hygiene and/or incorrect footwear. Washing feet and drying it properly at least twice a day may reduce bacteria build-up. Wearing comfortable footwear and cotton socks also help.
e.) Athlete’s Foot – Highly contagious fungal infection that requires treatment from anti-fungal preparation.
f.) Toenails – Incorrect trimming can cause the nail to become embedded in the toe.
4.) Head and Hair Hygiene
a.) Dandruff – is a disorder of the scalp that causes itching and flaking of the skin. It is due to the excessive production of a fungus called Pytyrosporum Ovale which lives on our skin all the time.
Treatments:
- Change cleaning products, limit or discontinue the use of styling products.
- Use products anti-dandruff continually.
- Sometimes, experts may recommend the use of zinc pyritheone or selenium sulfide.
- Watch for additional symptoms like soreness or crusting, this may indicate a different problem like ringworm or psoriasis which requires different treatment.
Prevention:
- Gently massage the scalp while shampooing.
- Limit the use of hair products that irritates the scalp.
- Good diet rich in vitamin B6
b.) Greasy Hair
- Build-up of grease can also occur due to over-washing.
- Hormones can play a role in the production of oils on the hair.
- Environmental factors like pollutants.
- Over-use of styling products.
Treatments:
- Use a suitable shampoo.
- If hair seems greasy after washing, try to wash it less often to allow its natural balance to return.
c.) Brittle Hair – Strong sign that hair is not in good health because of easy and frequent breakage.
d.) Hair Loss – Due to genetic reasons, stress or diet.
e.) Damage to the Hair and Scalp
- Mechanical Reasons
- Chemical Damage
- Environmental Reasons
- Thermal Appliances
- Straighteners, curling tongs and hair dryers.
5.) Genital Hygiene
a.) For Women: Over-cleaning of the vagina can be harmful as it tends to lose its natural chemical balance. The inside of the vagina rarely needs cleaning. External genitalia, the labia, should be cleaned only once a day with mild soap and water. This area should also be cleaned after sexual intercourse.
b.) For Men: The penis and scrotum should only need cleaning once a day. No attempt should be made to clean the urethra as it may cause injury. For uncircumcised men, special care must be taken to make sure the head of the penis is clean or smegma collection may occur.
This are should also be cleaned after sexual intercourse to prevent bacterial build-up. Wearing loose-fitting underwear can also reduce sweating and perspiration build-up.
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