Pafbig Inc.

LESSON 2:    SS1 WEEK 2 BASIC ECONOMIC PROBLEMS AND GOALS OF THE SOCIETY Every society strives to achieve so many economic objectives in attempt to satisfy the unlimited wants of its members. All economic systems are faced with myriads of problems which basically arose from the scarce nature of productive resources. However, they strive to set economic goals and work to achieve them. ECONOMIC GOALS OF THE SOCIETY Every economic system strives to achieve 1.    Full employment of resources 2.    Equitable distribution of income 3.    Economic efficiency 4.    Economic security 5.    Price stability 6.    A steady economic growth. ECONOMIC PROBLEMS OF THE SOCIETY All economic systems are faced with the problems of 1.    SCARCITY: resources are limited in relation to  unlimited wants 2.    CHOICE: deciding what is good for a system is an economi...

SS 2 GOVERNMENT : LESSON 1 WEEK 1 FRANCHISE Franchise is the political right granted every qualified citizen of a state to vote or be voted for in any political election. Types of Franchise 1.    Limited Franchise 2.    Unlimited Franchise 1.    LIMITED FRANCHISE This is also called restricted franchise. Rights of voting or be voted for is granted to only those who are qualified. Qualifications can be minimum age, belonging to certain race, educational qualification, religion or economic status. Demerits: 1.    Political education is limited to few people. 2.    Opportunity of voting is limited to few people. 3.    The system is undemocratic. 4.   There is disenfranchisement, majority of people are restricted from voting. 5.    Merits: 1.    Matured and qualified candidates are elected 2.    Resource availability to those with high economic statu...

                LESSON NOTE: SS2    LESSON 1 WEEK 1 BANKING SYSTEM, CENTRAL BANK & SPECIALIZED INSTITUTIONS Notes: BANKING: Is all activities involved in the collection of deposits and providing loans for business dealings. BANK: Is an institution that provides safety to money and valuables, and loans for business dealings. BANKING TERMS: ·          ASSET: Resources of a bank. Ex. Land , buildings, vehicles, equipments, money etc ·          LIABILITY: What the bank is responsible for. Ex. Customers’ deposit, bills, reserves, debts etc. ·          CREDIT: Money. ·          LOAN: Arrangement for borrowing from a bank and paying back after a fixed time with interest. ·          OVERDRAFT: A way of borro...