10 Possible Questions on Each Subject

ECON
1. What is the presupposition of international trade? PEACE AND STABILITY
2. Which international organization controls world oil prices and
production? ORGANIZATION OF THE PETROLEUM EXPORTING COUNTRIES
(OPEC)
3. What is the main objective of multilateral trade negotiations within the
framework of the General Agreement on Tariffs and Trade (GATT)? - TO
EXPAND AND LIBERALIZE WORLD TRADE
4. It fosters not only economic benefits but also cultural and social bonds
between nations. INTERNATIONAL TRADE
5. It leads to improved production and specialization through geographical
division of labor. SPECIALIZATION TRADE
6. It is an economic activity that deals with the exchange of goods and
services motivated by the desire for profit. TRADE
7. A tax or duty imposed on imported or exported goods. TARIFF
8. According to the theory of comparative advantage, what determines a
country's advantage in international trade? RELATIVE COST ADVANTAGE
9. What does the Law of Reciprocal Demand explain in international trade
according to John Stuart Mill? HOW SUPPLY AND DEMAND INTERACT IN
INTERNATIONAL TRADE
10. What is the modern trend in international trade where countries do not
impose tariffs on imports? FREE TRADE
INTRO TO LAW
1. A multilateral or international treaty or contract under which proceedings
were commenced; also, protects the economic interest of nations with
provisions that give coastal countries the exclusive right to marine
resources within 200 nautical miles offshore. UNITED NATIONS
CONVENTION ON THE LAW OF THE SEA (UNCLOS)
2. What are the two current jurisprudence or cases about the UNCLOS
issue? THE SEA ARBITRATION BETWEEN THE REPUBLIC OF PHILIPPINES V. THE
PEOPLE’S REPUBLIC OF CHINA; MAGALLONA VS ERMITA
3. CLASSIFICATION OF LAW

I. NATURAL LAW - this law derives its force and authority from God. It is
superior to other laws. It is binding to the whole world, in all countries,
and at all times.

a. PHYSICAL LAW - Universal rule of action that governs the conduct and
movement of things that are non-free and material
b. MORAL LAW - Set of rules that establish what is right and what is wrong as
dictated by the human conscience and as inspired by the eternal law.
 II. POSITIVE LAW

a. DIVINE LAW – Divine Positive Law, i.e., Ten Commandments; Divine Human
Positive Law, i.e., Commandment of the Church
b. PUBLIC LAW – Constitutional Law is the fundamental law of the land that
defines the powers of the government; Administrative Law fixes the
organization determines the competence of the administrative
authorities and regulates the method by which the functions of the
government are performed; International Law is the body of rules which
regulates the community of nations; Private Laws (body of rules) are
Substantive Private Law (declare legal relations or litigants) and
Procedural Adjective Private Law (means and methods of setting the
court motion, making facts)

4. SOURCE OF LAW

a. LEGISLATION – legislative power is principally vested in

b. PRECEDENT – decisions or principles enunciated by a court of competent
jurisdiction
c. CUSTOM – it has the force of law only when they are acknowledged and
approved by society through long and uninterrupted usage.
d. COURT DECISION – Juridical Decision which applies and interprets the
constitution and the laws.

5. WORLD’S LEGAL SYSTEMS – a legal system that exists in different countries

of the world
a. Mesopotamian LS
b. Anglican LS
c. Egyptian LS
d. Romanesque LS
e. Hebrew LS
f. Ecclesiastical LS
g. Chinese LS
h. Maritime LS
i. Greek LS
j. Slavic LS
k. Roman LS
l. Keltic LS
m. Japanese LS
n. Mohammedan LS

6. Legal Maxims
1. Ignorantia legis non excusat - lgnorance of the law excuses no one;
2. Dura lex sed lex - The law may be harsh, but it is still the law;
3. Cessante ratione cessat ipsa lex - When the reason for the law ceases, the
law also ceases to exist;
4. Sic utere tuo ut alienum non laedas - The owner of a thing cannot make use
thereof in such a manner as to injure the rights of a third person (Art. 431, New
Civil Code);
5. Patria potesta – Parental authority;
6. Negotiorum gestio- Unauthorized management;
7. Res perit domino- The thing perishes with the owner;
8. Jus possidendi - The right to possess;
9. Jus abutendi- The right to abuse;
10. Jus utendi - The right to use;
11. Jus fruendi - The right to the fruits;
12. Jus disponendi - The right to dispose;
13. Jus uendicandi - The right to recover;
14. Nulla poena sine lege - There is no crime when there is no law punishing it;
15. Salus populi est supreme lex - The welfare of the people shall be supreme
law;
16. Caueat emptor – Buyers beware;
17. Solutio indebiti – Unjust enrichment;
18. Aedificum solo credit – The building follows the land;
19. Accessorium siquitur principale - Land is always principal;
20. Nullum tempus occurit regi - Time runs not against the sovereign.
SC
1. In the logistics service, It is one important part of warehousing where the
overstocks, returns, and damage inventory are disposed. REVERSE LOGISTICS
2. To maintain good relationship with the customers, different aspects of handling
customer's need and overall marketing effort are implemented. CUSTOMER
RELATIONSHIP MANAGEMENT
3. It is the term for the goods available for sale and raw materials used to produce
good. It represents one of the most important assets of a business because its
turnover represents one of the primary sources of revenue generation and
subsequent earnings for the company's shareholders. INVENTORY
4. It is the common term used in government agencies for purchasing.
PROCUREMENT
5. The major decision areas in supply chain management are. PLANNING,
DEVELOPING, MAKING, DELIVERING, RETURNING
6. It brings a systems approach to understanding and managing the different
activities needed to coordinate the flow of products and services to best serve
the ultimate customer. SUPPLY CHAIN MANAGEMENT
7. It replaced the terms "purchasing," "transportation," and "operations," and
purchasing had assumed a position in organizational development and
management in the year 1990. SUPPLY CHAIN MANAGEMENT
8. The process of planning, implementing, and controlling the efficient and
effective flow and storage of raw materials, semi-finished and finished
 products, and related information from the point of origin to the point of
consumption. LOGISTICS
9. A network of facilitates and distribution options that performs the functions of
procurement of materials, the transformation of these materials into
intermediate and finished products, and the distribution of these finished
products to customers. SUPPLY CHAIN
10. It is a very simple method of implementing Kanban, one bin is available on the
floor of the production unit using the product. A second bin is available at the
inventory department of the factory where the production staff obtains raw
materials, and the third bin is available at the premises of the supplier who has
been selected to deliver the materials. THREE BIN SYSTEM
TM
1. RA 10863 aka CUSTOMS MODERNIZATION AND TARIFF ACT
2. Customs Broker refers to any person who is a bona fide holder of a valid
Certificate of Registration/Professional Identification Card issued by the
Professional Regulatory Board and Professional Regulation Commission
pursuant to Republic Act No. 9280, as amended, otherwise known as the
"Customs Brokers Act of 2004"
3. Importation refers to the act of bringing in of goods from a foreign territory
into Philippine territory, whether for consumption, warehousing, or
admission as defined in this Act
4. Exportation refers to the act, documentation, and process of bringing
goods out of Philippine territory
5. Bill of Lading (B/L) refers to a transport document issued by shipping lines,
carriers and international freight forwarders or non-vessel operating
common carrier for water-borne freight. The holder or consignee of the
bill has the right to claim delivery of the goods at the port of destination.
It is a contract of carriage that includes earner conditions, such as limits
of liability and claims procedures. In addition, it contains transport
instructions to shipping lines and carriers, a description of the goods, and
applicable transportation charges
6. There are 17 Collection Districts in the Philippines under BOC.
7. SEC. 200. Chief Officials of the Bureau. – The Bureau shall be headed by
a Commissioner and shall be assisted by at least four (4) but not more
than six (6) Deputy Commissioners.
The Commissioner shall be appointed by the President of the Philippines.
The Deputy Commissioners shall also be appointed by the President and at least
majority of whom shall come from the ranks of the Bureau.
8. INTERNAL ADMINISTRATION GROUP (IAG); ASSESSMENT AND OPERATIONS
COORDINATION GROUP (AOCG); REVENUE COLLECTION MONITORING
GROUP (RCMG); INTELLIGENCE GROUP (IG); ENFORCEMENT GROUP (EG);
MANAGEMENT INFORMATION SYSTEM AND TECHNOLOGY GROUP (MISTG);
POST CLEARANCE AUDIT GROUP (PCAG)
 9. Goods of Commercial Nature w/ FOB or FCA value of less than 50,000 unde
Clearance of Goods in Informal Entry Process
10. SEC. 206. Customs Districts. – For administrative purposes, the Philippines
shall be divided into as many Customs Districts as necessary, the
respective limits of which may be changed from time to time by the
Commissioner, with the approval of the Secretary of Finance.
Each Customs District shall be supervised by one (1) District Collector, assisted
by as many Deputy District Collectors as may be necessary. The choice of the
location of a District Office, its business hours and the staffing pattern thereof,
shall be based on the particular requirements of each district.