GOOD MORNING

FUNDAMENTAL ECONOMIC PROBLEM

All countries have economic problems. We have economic
problem because our resources- money, materials and machines are
limited while human needs are unlimited.
The biggest economic problem of our country is unemployment.
Those who are willing and able to work cannot find jobs. In industrial
countries like Japan, Germany, Italy and United states, they even import
workers for theirs factories.
Unemployment creates social problems such as housing, health
and sanitation, prostitution, robbery and others related crimes. Most of
them cannot get jobs. So they become squatters. To survibe, they are
most likely to commit social crimes.
 THE ENTREPRENEURIAL ECONOMY
A free enterprise or market economy is an entrepreneurial economy.
This is an economy dominated by entrepreneurs. Such individuals are risk
takers. They organize and manage their own business.
One of the main thrust of the national government is the creation of the
spirit of entrepreneurship among the poor. In this connection, the government
extend financial assistant and technical assistant to small scale industries,
especially micro-business enterprises. Such type of enterprise requires small
capital, low technology and local materials. More importantly, it is easy to
manage and it is labor intensive. Small business is exactly the need of our
developing economy.
 Many are looking for jobs. A much better alternative is to create
jobs for others. This is only possible is small businesses are put up. Many
claim that they have no money and skills to start their business. This is
not really a problem. The government and some non-government
organizations (NGOs) provide financial and technical support to
livelihood projects.
 FORTUNE FAVORS THE ENTREPRENEURS

Not the few giant businesses came from micro-businesses. In our

country, we have National Book Store, Sarao Jeepney and Rufina Patis.
Jack Simplot, one of the richest persons in the United States started his
business by selling two copies of news papers a day. The one who
invented the paper clip became wealthy. Likewise, the one who
introduced the chewing gum became prosperous. Such simple and
practical creativity can also be done by others.
 Evidently, entrepreneurs like Soccoro Ramos of National Book
Store get all the rewards of their efforts. Moreover, they create jobs for
people. And they help the government through tax payments. On the
others hand, employees do not become rich. It is in business where more
incomes than office clerks.
Many Filipinos are poor and jobless. Yet our country is rich in
natural resources. The government should train the poor to be
entrepreneurs. Then give them the opportunities to transform our idle
natural resources into useful products. Thus, the problem of
unemployment is reduced, and our idle natural resources are utilized.
Get ½ sheet of paper and read the questions well and write the correct
answer.
1-2. Give two example of economic problem in our country?
3. It is a free enterprise or market economy?
4. Who is the richest persons in united states, he started his business by
selling two copies of newspapers a day?
5. How can the government help the poor and jobless people, in what
way? ( 6points ).