1. Social Science
BETAR – Basic Economics, Taxation
and Agrarian Reform

2. Considerations
• Be familiar with economic concepts and laws.
• Read the textbook in Fourth Year High School, if
you have it.
• Be up to date or know the latest news on
Philippine economy (e.g. GDP growth), taxation
(e.g. Tax evasion issue of Manny Pacquiao) and
agrarian reform (e.g. Hacienda Luisita Issue).
• Do not rely too much on the hand-outs and
lecture. Do some research on your own.

3. Basic Economics
Key tasks
• Know the meaning of Economics and
economic concepts (e.g. market, buyer and
seller) and laws (e.g. law of supply and
demand)
• Learn how trade and commerce works within
and between countries

4. Basic Economics
• Economics - study of goods and services: the
study of the production, distribution, and
consumption of goods and services
(Source: Microsoft® Encarta® 2009. © 1993-2008
Microsoft Corporation.)
- study of how human beings allocate
scarce resources to produce various commodities
and how these commodities are distributed for
consumption among the people in the society
(Source: Maglente Review and Training Center
Reviewer on General Education)

5. Basic Economics
Some key terms:
• Market - social arrangement that allows buyers and sellers
to discover information and carry out a voluntary exchange
of goods or services
• Buyer – any person who contracts to acquire an asset in
return form of consideration
• Seller – any person who deals with trade, dealing in
commodities that he does not produce himself for him to
produce profit
• Law of supply and demand – states that if the price is
higher, supply is greater and demand is lower; if the price is
lower, supply is lesser and demand is greater
(Source: Maglente Review and Training Center Reviewer on
General Education)

6. Taxation
Some key terms:
• Taxes – enforced proportional contributions from
persons and property levied by the state by virtue of its
sovereignty for the support of the government and for
all its public needs
• Taxation – the inherent power of the State, acting
through the legislature, to impose and collect revenues
to defray the necessary expenses of the government
• Revenue – refers to all funds or income derived by the
government
(Source: Maglente Review and Training Center Reviewer
on General Education)

7. Agrarian Reform
Republic Act No. 6657 otherwise known as the
Comprehensive Agrarian Reform Law (CARL) of 1988 was
signed into law by President Corazon C. Aquino.
• Land reform – refers to the full range of measures that may
or should be taken to improve or remedy the defects in the
relationships among men with respect to their rights in
Land
• The State pursues a Comprehensive Agrarian Reform
Program (CARP) in order to:
– Promote social justice
– Establish owner-cultivatorship of economic sized farms as basis
of Philippine Agriculture
– Move the nation toward sound rural development and
industrialization
(Source: Maglente Review and Training Center Reviewer on
General Education)