What will be produced with your countrys resources?

1 Various electronics, footwear, pharmaceuticals, food sources,

wood products, petroleum refinery. The Philippines has
resources that can be used as tools, food, and ingredients for
food.
How will these goods be produced?
These numerous goods will be produced through different usages of
the ocean, minerals, major crops, and floras. The ocean produces
a variety of marine life that contain solid commercial value.
Minerals in the Philippines are abundant and can be used to create
different tools and items. Major crops are sources of rice, cone,
sugarcane, and many more sources of agriculture. Floras as used in
ingredients as well as commercially exported products.
Who will use these goods?
These goods are used by the people in the Philippines as well
as exported to other countries. Crops like rice are important to the
food supply in the country as well as the economy. Overall, not
only do the people of the Philippines use the good produced, many
products are exported to other countries in the means of trade and
the growth of economy.
Write a brief summary of the economic system of the country: Identify and
explain the type of economic system.
The Philippines partakes in a mixed economy. The country has
free enterprise as well. A mixed economy has characteristics of
capitalism and socialism as well. There is more economic
freedom in the Philippines. The Philippine is a country that is rich
in minerals and the production of items made from minerals. The
economy of the Philippines is the 39th largest in the world as well
as it is also an emerging market. The Philippines has been based
on agriculture, but is slowly merging into a country based on
more services and manufacturing.
Select three key economic indicators such as poverty rates, labor distribution,
use of resources, etc. and analyze what this information says about the country,
how does it compare to other countries, change over time, etc.
Poverty rates: 26.5% of the Philippines population lives below the poverty
line as of 2009.
Unemployment rate: 7.4% as of 2013 and in comparison to the world the
Philippines is 81, 7%.
Labor Force: agriculture 32%, industry 15%, services 53%

Overall the labor force in the Philippines is very strong. These

labor forces have helped the Philippines economy weather global
economic and financial down turns. With such a high
unemployment rate, this means that people are not making as
much money as other countries as well as not producing as
much goods as others countries. The AQUINO admiration,
however, has been working on boosting budgets for areas like
education, health, and social spending programs.

Identify the GDP - per capita for the country.

4,700 (2013 est.)

country comparison to the world: 165
$4,400 (2012 est.)
$4,200 (2011 est.)
note: data are in 2013 US dollars
The GDP of the Philippines is low in comparison to other
countries.

The Philippines may be suffering from high poverty rates and

unemployment rates hence there is usually low income
associated and the prediction of the Philippine economy to be
struggling.