Socio-Economic Survey of Entrepreneurship in the Municipality of Calinog

The purpose of this present study is to evaluate the socio-economic status of entrepreneurship in the Municipality of Calinog and assist the entrepreneurship and economic opportunity in the market of Calinog by developing a new knowledge in business. The data collection methods were mainly based on observation. The respondents respond that entrepreneurship with respect to their perspective on the existence of opportunity; perspective of the market process, innovation; and the transaction cost economics. They believed economics is intimately associated with the assumption of market equilibrium; acquisition and communication of knowledge; visualizes the world in which there is a continuous process of discovery – not usually major discoveries but mostly minor discoveries about individual wants at particular times and places. Furthermore, the adjustment of prices is the main role of the businessman. They claim that if the wrong price prevails in the market, then an opportunity for profit exists. If differentiated prices prevail in the same market, there is scope for profitable arbitrage between the segments of the market.

Keywords: Socio-Economic, Entrepreneurship, Calinog, Business