10 Questions
Which type of workers can be excluded from the minimum wage?
Agricultural and domestic labor, the self-employed, and family enterprise workers
What is the purpose of the minimum wage?
To set a universal floor for the lowest rate an employer can legally pay an employee
What is the main purpose of taxes in the Philippines?
To regulate economic activity
How many main types of national internal revenue taxes are there in the Philippines?
Four
Which government agency is responsible for administering taxes in the Philippines?
Bureau of Internal Revenue (BIR)
What type of tax do entrepreneurs have to pay?
All of the above
Why do entrepreneurs have to pay taxes?
To comply with the law and contribute to the government's revenue
What is the relationship between taxes and entrepreneurship?
Taxes are necessary for entrepreneurship to thrive
What is the impact of minimum wage on entrepreneurship?
It increases the cost of doing business
What is the relationship between taxes and economic activity?
Taxes regulate economic activity
This quiz covers entrepreneurial opportunities and challenges in the Philippines, including access to low-interest loans and the thriving rental market. Test your knowledge of the economic issues facing Filipino entrepreneurs and the current demand for rentals.
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