What affects the Philippine economy development?
Empirical evidence show that agricultural export, fiscal balance, gross fixed capital formation, population growth, inflation rate, total foreign trade, trade balance and current account balance are significant determinants of economic growth in the panel of these emerging market economies. …
What are the effects of economic development?
While improvements in income per capita through economic growth may increase environmental degradation through greater resource use, at the same time higher levels of development may also reduce environmental damage. This counteracting effect on environmental outcomes takes place through different channels.
What is economic development in the Philippines?
With increasing urbanization, a growing middle class, and a large and young population, the Philippines’ economic dynamism is rooted in strong consumer demand supported by a vibrant labor market and robust remittances.
What are the major problems in the Philippines?
The Philippines are prone to natural disasters, particularly typhoons, floods, landslides, volcanic eruptions, earthquakes, and tsunamis, lying as it does astride the typhoon belt, in the active volcanic region known as the “Pacific Ring of Fire,” and in the geologically unstable region between the Pacific and Eurasian …
What are the economic problems?
Answer: The four basic problems of an economy, which arise from the central problem of scarcity of resources are: What to produce? How to produce? For whom to produce?
What are the two serious effects of economic development?
Economic development brought in its wake higher standards of living, better food, adequate clothing and shelter, as also protection from the natural disasters of drought and famine. There also occurred improvement in medical facilities and health care.
What are the two serious effects of economic development class 10?
Generally, as a country becomes more economically developed, the well-being of its citizens improves in a lot of ways: their health, education, security, freedom, and self-sufficiency.