Best answer: What are the basic economic problems in the Philippines?

What are the 3 basic economic problems?

Ans. – The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.

What are the basic 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 is the main cause of all economic problems?

The root cause of all economic problems is due to the fact that in an economy the resources are available in a limited quantity while the wants of the population are unlimited which leads to scarcity in supply.

What is the biggest problem in the Philippines?

Poverty, lack of education, drug or substance abuse, vice, crime and unemployment are among the many problems that continue to batter them.

What are the top 10 social issues?

Top Ten Social Issues

  • Obesity:
  • Smoking:
  • Youth Alcohol Usage:
  • Transportation:
  • Poverty:
  • Basic Needs:
  • Homelessness:
  • Homeless Population:
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What are the three basic problems of the Philippines?

In the Philippines, conflict and violence are generated by poverty, inequality (both political power and economic resources in the hands of an elite), marginalization and poor governance.

Which is the best economic system Why?

Why is Capitalism the Greatest? Capitalism is the greatest economic system because it has numerous benefits and creates multiple opportunities for individuals in society. Some of these benefits include producing wealth and innovation, improving the lives of individuals, and giving power to the people.

What is the most fundamental economic problem?

At the core of economics is the concept of scarcity, which refers to having limited resources to meet unlimited demands. Explore how the scarcity of goods and services require trade-offs, the graphical representation of scarcity, and why scarcity is the basic economic problem.

What are examples of economic issues?

The Top 10 U.S. Economic Issues to Monitor

  • Number One: Government Expenditures and Deficits. …
  • Number Two: Social Security. …
  • Number Four: Median Family Income. …
  • Number Five: The Savings Rate. …
  • Number Six: Consumption Binge. …
  • Number Seven: No Retirement Funds. …
  • Number Eight: High Family Debt. …
  • Number Nine: Healthcare.