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Socsci032 Activity 2 Caroro

The document discusses several scenarios related to the economy and market integration. It asks the reader to discuss the positive and negative impacts of each scenario and provide a final judgement. One scenario involves purchasing an online shirt from London. Another discusses importing rice to the Philippines due to economic crises. A third is about a multinational corporation closing and offering relocated employment. In conclusion, the reader describes market integration as involving global trade, liberalization, and capitalism, with both benefits and drawbacks to stability and the economy.

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Britney Claire
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99 views1 page

Socsci032 Activity 2 Caroro

The document discusses several scenarios related to the economy and market integration. It asks the reader to discuss the positive and negative impacts of each scenario and provide a final judgement. One scenario involves purchasing an online shirt from London. Another discusses importing rice to the Philippines due to economic crises. A third is about a multinational corporation closing and offering relocated employment. In conclusion, the reader describes market integration as involving global trade, liberalization, and capitalism, with both benefits and drawbacks to stability and the economy.

Uploaded by

Britney Claire
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Cebu Institute of Technology-University SOCSCI032: THE CONTEMPORARY WORLD

College of Arts, Sciences and Education ACTIVITY 2 – Weighing the Market


Area: Social Sciences DEADLINE: November 13, 2021

ACTIVITY 2: Weighing the Market

Instructions: Listed below are scenarios that have to do with the economy. Discuss the major impacts of
these scenarios whether they are positive or negative (for you, for the country, or for the Filipinos). The
“case-by-case” column can be used as your final judgement of your scenario. Justify your answers.

Case-by-Case (Final
Scenario Positive Negative
judgement)

With the advancement of


We will be able to buy Encouraging and technology, we could now
You decided you purchase a goods from other countries recognizing the local goods buy goods from other
new shirt through an online and ensure the quality of would be low. There might countries with just one
shop based in London. the shirt. Support their be a decline in the country’s click. Hence, supporting
goods and small business. economy and profit. foreign goods is not a good
idea.

The negative impact on this


Importing goods from other
is imported rice tends to be
The Philippine government is One thing about importing countries comes with
pricey. The agricultural
being pressured by the current goods from other countries positive and negative
industry of the country will
economic crises to import rice would benefit the country a effect. Thus, it is important
be not appreciated.
from Taiwan and other nearby lot like it will help provide to export rather than
Knowing that agriculture is
countries in the region. the needs. import for it will benefit the
not well supported by the
country so much.
government.

A multinational corporation
Opportunities to the Multinational corporations
decided to close.
employees of a really helps in maintaining
Unfortunately, your father is The multinational
multinational corporation the trades done between
one of its many employees corporation would affect
would open. With the countries. Henceforth, in
whose work has been the economy globally.
increased of international multinational corporations,
terminated. However, he could Thousands of employees
trade, it will help prevent private industries tends to
still be employed if he were to would lose their jobs.
private industries in gaining earn more and have an
accept the offer to move or
profit. advantage.
relocate to another country.

Based on what you answered, using your own words, how do you see Market Integration?
Global Trades, Liberalizations, Capitalism, Globalizations, Stability, and Economy are one of the
words that I could describe Market Integration. In relation to this, world economies have been exchanging
goods and selling these goods at an agreeable price. Thus, it comes up with positive and negative effects,
especially not giving recognition to local products. Markets though are monitored by organizations and
agreement between countries. It is very crucial that there must be equality on trades and prices so that
negativity in economy won’t foster.

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