Type of Economy: Mixed-Market
The Filipino economy is expected to continue to grow as the value of thier peso continues to increase. Their economy is built on fishing, electronic assembly, pharmaceutical chemicals and more businesses. The Philipines have a mixed-market economy which is defined as an economy with free enterprise and some government interference in businesses. Their GDP per capita is 4,100$. 26.5% of the population of 103,775,002s below the poverty line. The employment rate stands at 17.4%.
1. The Philipines have organizations such as the CSE (Center for Small Entrepeneurs) to encourage Filipino entrepeneurship.
2. Although business startup may take 16 processes and 36 days, the Philippine's citezens are free to start a business which gives proof that there is free enterprise.
3. The Philippine's government owns some businesses such as the Al-Amanah Islamic Investment Bank of the Philippines. This shows that there is some government interference in the Filipino economy.
4. America, a mixed-market economy is the Philippines best trading partner and thus, influences the type of economy found in the Philippines and also controls a large part of the rise/downfall of its economic system.
5. The economy is composed of private and government owned businesses. The government allows for foreign investment for strength for the economy.
1. The Philipines have organizations such as the CSE (Center for Small Entrepeneurs) to encourage Filipino entrepeneurship.
2. Although business startup may take 16 processes and 36 days, the Philippine's citezens are free to start a business which gives proof that there is free enterprise.
3. The Philippine's government owns some businesses such as the Al-Amanah Islamic Investment Bank of the Philippines. This shows that there is some government interference in the Filipino economy.
4. America, a mixed-market economy is the Philippines best trading partner and thus, influences the type of economy found in the Philippines and also controls a large part of the rise/downfall of its economic system.
5. The economy is composed of private and government owned businesses. The government allows for foreign investment for strength for the economy.