This UCSP class module discusses how markets are considered by economists as social organizations, and this is due to the significance of human interactions that impact on market performance. People also experience changes in culture, society, and politics as markets change.
This module explains that historically, the economic system in the Philippines has evolved as different global developments, colonial influences, and interactions with foreign traders have shaped market dynamics.
Objective
● Explain why markets are considered social organizations;
● Explain how Philippine economic systems developed in history; and
● Discuss the importance of economic systems to Filipino society and culture
Curriculum Information
Education Type
K to 12
Grade Level
Grade 11, Grade 12
Learning Area
Content/Topic
How society is organized
Intended Users
Educators
Competencies
Describe the organized nature of social life and rules governing behavior
Copyright Information
Developer
Philippine Business for Education, Inc. Author: Chad Osorio
