A lecture on Agricultural Economics and Marketing

1. Agricultural Economics and
Marketing
AGSC 5
Noriel B. Bergonio, MBA
Dept. of Agricultural Entrepreneurship, CAFENR
Cavite State University

2. Lecture 4: The Countries' Economic Goals and
Economic System
I. Economic Goals of Countries
II. Economic Systems
1. traditional economic system
2. market economic system
3. planned (command) economic system
4. mixed economic system

3. I. Economic Goals of Countries
Economy – the mechanism through which the
utilization of resources is employed to satisfy the
desires of those who live in society

4. Economic Growth – an increase in the total output of an
economy measured GNP/GDP. What is desired by the
economy is a high standard of living which is translated
into the production of more goods and services.

5. ECONOMIC GROWTH OF AQUINO ADMINISTRATION 2010-2013

7. · Economic Development – progressive process of
improving human conditions by eliminating or
reducing poverty, unemployment, illiteracy, etc.

9. Philippine literacy
rate = 88.6

10. Despite growth, PH
unemployment is the
highest in Southeast
Asia

11. · Full/High Level Employment – there must be work for
those willing and able to work.

12. UNEMPLOYMENT IN THE PHILIPPINES , 2012

13. PHILIPPINE UNEMPLOYMENT RATE 2013-2016

14. · Economic Efficiency –(allocative efficiency)
producing more output with the use of fewer
resources. An efficient economy is one that
produces what people want at the least possible
cost.

16. · Price Level Stability – a condition
in which national output is
growing steadily, with low
inflation and full employment
resources.

17. Effect of Inflation, 1998 as base year

20. Economic Freedom – includes
consumer choice, freedom of
occupational choice, freedom to
consume or save, freedom to own
properties and freedom of enterprise
The country is up 13 places in the world economic freedom rankings

23. · Economic Security – the continued
existence of this market economy
depends on economic security,
because incomes are established
in the market place

25. · Equitable Distribution of Income –the
economy must not be made up of a
certain group that is so poor and
destitute while other groups wallow in
great luxury.
· Balance of Trade - is the difference
between the value of the good a nation
exports and the value of goods it
imports. If the value of exports is
greater than the value of the country’s
imports, then there is balance of trade
surplus and this must be maintained. On
the other hand, if the reverse is true,
then there is balance of trade deficit.

28. THANK YOU!THANK YOU!