2024 02 15 AZ GOP LD4 Gen Meeting Minutes_FINAL_20240228.docx
Econ1 swu
1. Current trends of health care financing and the health maintenance organizations (Hmo)
2. The social security system "The social security system is aimed at providing protection for the SSS member against socially recognized hazard conditions" Republic Act No. 8282, otherwise known as the Social Security Act of 1997, refers to the social security system in the Philippines that is initiated, developed and promoted by its Government. This social security system is aimed at providing protection for the SSS member against socially recognized hazard conditions, such as sickness, disability, maternity, old age and death, or other such contingencies not stated but resulted in loss of income or results to a financial burden. Towards that goal, the Social Security Act of 1997 also endeavors to extend the social security system not only to the SSS member but also to his/her beneficiaries.
3. The Social Security Act of 1997 is compulsory to the employee who is under the age of sixty (60) and his/her monthly income exceed the value of one thousand pesos per month (P1,000). Non-employed Filipino citizens, such as spouses who are devoted to full-time duties of managing the household or other family affairs may voluntarily cover themselves for the social security system. Employees who are recruited by foreign-based employers may voluntarily cover themselves for the social security system in Philippines .The Social Security Act of 1997 is compulsory to the self-employed. Under such rules and regulations determined by the Commission, a self-employed worker has compulsory coverage if he/she is a professional, he/she is in a single (or in a partnership) proprietorship business, is an actor and actress who doesn't necessarily fall within the definition of the term employee (according to Section 8 of the Social Security Act), professional athlete, trainer, coach, or jockey, or a fisherman or a farmer.
4. The effective start of an SSS member's coverage will take effect on the employee's first day of his/her employment, or for the employer, his/her first day of operation.The Retirement Benefit is granted when an employee retires from work upon reaching the retirement age established in the collective bargaining agreement or other applicable employment contract.The Death Benefit is granted in event of the deceased SSS member's beneficiaries, receiving from the System an amount equivalent to the deceased member's monthly income benefit, plus a ten percent (10%) fraction of the death benefit thereof for every listed dependent child, with the list not exceeding five, beginning with the youngest to the oldest. The list may not be substituted nor appended.The Disability Benefit is granted depending on the severity of the disability claim which is to be determined by the Medical Director of the System and approved by the Employees' Compensation Commission. Articles 191, 192 and 193 of the Philippine Labor Code cover the different degrees of the disability and the benefits accompanying them.
5. (This article features content derived from the Social Security Act of 1997, Republic Act No. 8282. By no means shall this article be used to substitute Republic Act No. 8282.)
11. LABOUR Labour is the human input into the production process. In the UK , of about 59 million inhabitants only approximately 35 million are of working age (16-64 years for men and 16-59 for women), and of those about 28 million have paid jobs. The employment level for people in the Uk economy is shown in the chart below. Over recent years there has been a sustained increase (expansion) in the employed labour force - providing more labour resources with which to increase total output (GDP) Two important points need to be remembered about labour as a resource: A housewife, a keen gardener and a DIY enthusiast all produce goods and services, but they do not get paid for them. They are producing non-marketed output and the output of these people is not included in Gross Domestic Product Not all labour is of the same quality. Some workers are more productive than others because of the education, training and experience they have received Human capital refers to the quality of labor resources, which can be improved through investments in education, training, and health
12. ENTREPRENEURS Entrepreneurs are people who organize other productive resources to make goods and services. Some economists regard entrepreneurs as a specialist form of labour input. Others believe that they deserve recognition as a separate factor of production in their own right. The success and/or failure of a business often depends critically on the quality of entrepreneurship. CAPITAL To an economist, capital has several meanings - including the finance raised to operate a business. But normally the term capital means investment in goods that can produce other goods in the future. Capital refers to the machines, roads, factories, schools and office blocks which human beings have produced in order to produce other goods and services. A modern industrialized economy possesses a large amount of capital, and it is continually increasing. Increases to the capital stock of a nation are called investment. Investment is important if the economy is to achieve economic growth in the long run.
13. FIXED CAPITAL: Fixed capital includes machinery, plant and equipment, new technology, factories and buildings - all goods designed to increase the productive potential of the economy in future years. We also include the social capital created from Government investment spending, i.e. the building of new schools, universities, hospitals and spending on expanding the national road network. In the summer of 2000, Chancellor Gordon Brown announced large scale increases in government spending on education, health and transport. One reason behind this spending boost was the desire to increase the stock of social capital available to meet the needs of the economy in a changing world. See also public goods and merit goods WORKING CAPITAL: Working capital includes stocks of finished and semi-finished goods (components) that will be either consumed in the near or will be made into finished consumer goods. Example: What resources go into making a car?
14. Focus on the main factor inputs: Labour: Workers employed directly in the car industry; engineers, designers, paint sprayers, testers, management staff, transport & distribution workers etc Land: Natural resources used in manufacturer, land for plant and equipment Capital: Fixed capital: machinery, technology, buildings + Working capital: i.e. stocks of raw materials and components Entrepreneurship (sometimes seen as a separate factor): management, risk-taker "If God had meant there to be more than 2 factors of production, He would have made it easier for us to draw three-dimensional diagrams" Solow, Robert http://tutor2u.net/economics/content/topics/introduction/factor.htm