Executive Summary:
According to Economic Forecasts from the World’s Leading Economist, Philippines continuous to enjoy strong and healthy economic growth. Exports plays an important role in the Philippines economy. Exporting products and services to other countries can greatly affect the productivity growth in the Philippines. Rising imports and retail sales are a testament to steadily strong private consumption, underpinned by strong remittances and moderate inflation, while investment activity is benefiting from improved investor confidence and rising FDI. Ironically, economic growth is sometimes unpredictable. Due to globalization, political issues, natural calamities and other factors, Philippines tend to experience down fall on its economic
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In some cases, economic growth is unpredictable due to some factors. We have these calamities and typhoons that can greatly affect the production of our goods. We have this natural phenomenon called El Niño and La Niña. Where El Niño events are associated with a warming of the central and eastern tropical Pacific, while La Niña events are the reverse, with a sustained cooling of these same areas. Therefore, these events can affect the production of goods in the Philippines. The real challenge for the local government would be, “what will be their corresponding action if this natural phenomenon occurs”? In this instance, the Government should always be prepared to this natural phenomenon. The government should create and established organizations which can help the farmers in assisting them what are the best possible options and ways to prevent the crops of the farmers not to be wasted. I guess the past and current administration has already done in establishing such organizations for the welfare of its people especially those farmers. The country could also experience typhoons and natural calamities that can bring negative effect to the production of goods. Which is really beyond our control. We cannot do anything to stop any natural calamities to hit our country but Filipino’s are known to be strong, so I expect that after this experience, we are confident to stand …show more content…
Economic growth is the sustain increase in production of goods and services. It is measured by this what we call “GDP” or Gross Domestic Product which is said to be the total of all final goods and services produced in a nation in a year. A nation’s standard of living can only improve if GDP increases. The economic goals in the Philippines are many. The most important include equity, economic growth, more employment opportunities and stability among others. I chose to focus first in our GDP growth. The Government should exert an extra effort in increasing our GDP or Gross Development Product. There are a lot of good outcome if Philippine GDP tend to increase. We’ll stable jobs for the Filipino people, stable level of prices of our basic needs and services in the country without dramatic deflation or inflation and lastly, to sustain growth without large swings in output or consumption. However, before we can achieve these goals. We really need to create new products with high quality standards. Make our products more convincing to attract target consumers. Well, Philippines is rich from natural resources and aside from that we have special soil that has high qualities where we can plant our crops and earn profit from it. We need to improve our crops in the Philippines. Let’s focus in developing our Agriculture sector to provide more jobs
The measure of growth is flawed, how countries see their growth is based on the consumption of their people. Many countries use the GDP (Gross Domestic Product) as an indicator for growth, as defined in It’s All Connected, “(GDP) is a calculation of the total monetary value of goods and services produced annually in a country” (Wheeler 11). The...
Working in a family practice requires a nurse to treat the entire family and experience providing care for each developmental stage. Understanding the developmental stages of human growth creates an environment that allows the nurse to view and provide care for the whole person. There are eight human growth and development stages that include promoting health throughout the life span and resolving health concerns. We will look at each stage and identify significant changes and health concerns experienced for each stage.
Economic growth can be defined as increases in per capita real GDP (gross domestic product) measured by its rate of change per year. Growth rates are very important because even a small change can make vast difference in the coming years. The knowledge of economic growth is also important because it can provide the means to allow us to gain valuable insights. According to Robert D. McTeer, president and chief executive officer of the Federal Reserve Bank of Dallas, two factors determine the rate of economic growth: productivity increases (more output for the same amount of inputs), and labor (the number of hours worked).
In order to assess the current state of the economy, the examination of important economic indicators or variables has always played a vital role in the understanding of the complex economic systems we live in. The analysis of these economic variables studied by many, not only has served as a tool to evaluate the current economic performance of a country, but also has allowed experts to envisage and continue the pavement of an economy's road. Currently, some economic variables have had favorable improvements indicating a general good outlook for the economy for the following months, requiring a further individual analysis and comparisons in order to foresee crisis or successes.
...earch and extension, rural infrastructure, and market access for small farmers. Rural investments have been sorely neglected in recent decades, and now is the time to reverse this trend. Farmers in many developing countries are operating in an environment of inadequate infrastructure like roads, electricity, and communications; poor soils; lack of storage and processing capacity; and little or no access to agricultural technologies that could increase their profits and improve their livelihoods. Recent unrest over food prices in a number of countries may tempt policymakers to put the interests of urban consumers over those of rural people, including farmers, but this approach would be shortsighted and counterproductive. Given the scale of investment needed, aid donors should also expand development assistance to agriculture, rural services, and science and technology.
Evidently there have been significant impacts on different sectors of the Philippines and its citizens. Unfortunately these impacts will only increase if action is not taken soon. Therefore, now more than ever, it is crucial to develop sensible strategies on the mitigation of climate change in the Philippines.
The backbone of a stable nation, socially and politically, is agriculture. Agriculture is the largest sector that provides a nation with food and employment. Agriculture is currently being affected by climate change and at the same time it is also a contributor to climate change. The drastic elevations in climate change started from the mid to late 20th century and they have been increasing since then (Boisvenue & Running 2006). Climate change is affecting agriculture by interfering with the efficiency of crop production. Agriculture is facing droughts, flooding, sea level elevations, natural disasters, and health hazards for employees. All of these exponents lead to crop failure that creates famines and food prices to rise. On the other side, agriculture is also contributing to climate change through their output of greenhouse gas emissions and carbon footprints. These are caused by the activities that agriculture engages with such as breeding of livestock, ploughing of fields, deforestation, and the use of pesticides and other agrochemicals. Climate change affects countries differently, mainly due to their ability to adapt and their geographical location. Canada and Russia benefit from the changes in climate while Sudan and Bangladesh are affected negatively, struggling to adapt. Agriculture and climate change are interrelated processes that exist mutually making it harder to reduce one without affecting the other.
Theoretical model of modern economic growth shows that long-term economic growth and raise the level of per capita income depends on technological progress. This is because of without technological progress and with the increase of capital per capita, marginal returns of capital would diminish and output per capita growth would eventually stagnate (Solow, 1956; Swan, 1956). Studies have shown that “experience, skills and knowledge in the long-term economic growth is playing an increasingly important role” (World Bank, 1999). Despite how technological progress work on economic growth, and how there are different views on the role of in the end, but I am afraid no one would deny that technical progress in the important role of economic development. In this sense, for a country to achieve long-term economic growth, we must continue to promote technological progress. However, economic growth theory is analyzed in general, and usually under the assumption that in the closed economy, and technological progress in a country not normally have taken place in various departments at the same time, and now the economy are often increasingly open economy. In this way, the technological progress in different economic impact on a country may be quite different. In addition, we assume that technological progress is Hicks neutral, is to an industry in itself, but technological progress also reflects the establishment of new industries and development. The new industries and technology-intensive industries generally older than the high, the use of less labor. Even the old industries, the general trend of technological progress is labor-saving.
Apart from Manila, several other areas, more specifically provinces, were also affected by the developments. These provinces which experienced the massive conversion from agricultural lands into “residential, commercial a...
Economic growth is one of the most important fields in economics. In current generation economic is developing well. Economic growth is really important to country and for the world as well. Economic are one of the identity for country because it shows a country development and attraction for other countries (F, Peter. 2014). For example well economic develop such as Singapore, Dubai, New York, and Japan. These countries are well develop and maintaining their economic growths. Economic growths are really important because higher average incomes enables consumers to enjoy more goods and services. Then, lower unemployment with higher output and positive economic growth firms tend to utilize more workers creating more employment. Enhanced public
Salehzedah, Zohre and Henneberry, Shida Restagari "The Economic Impacts of Trade Liberalization and Factor the Case of the Philippines." Journal of Policy Modeling v24.
The tropics are effect by many weather conditions which makes the jobs of farmers difficult. Overall subsistence and the GNP are effected by changes in weather, which for the most part is not always predictable. In a world that is divided up into the haves and the have nots, government influence is crucial in regulating practices and the overall distribution of wealth Despite this fact, programs implemented did not always succeed in benefitting the Filipinos. One major attribute of the Philippines is the wide variety of crops produced in this region. Crops which many not be able to grow during the rainy season may grow during in the period of December - May when there is little rainfall (and vice versa).
Today agriculture is the livelihood of most poor underdeveloped nations. This communal life blood provides a majority of the population with a source of employment, nourishment and income. It is considered to be an invaluable skill, that is taught down from generation to generation along with a sense of respect for the environment. However as a nation begins to undergo development, so do their food production systems. The country's newfound development causes significant restructuring of their agricultural production practices. This restructuring leads to poor environmental practices, and adverse agriculture methods. Increased economic development/production negatively affects a country's environmental and agricultural health.
Pakistan has all the major ingredients necessary to become a developed nation; it has a geo-strategic location, a generous availability of natural resources and a large population in the working age. Despite having the potential to turn itself into a developed country, Pakistan has not been able to fulfill its potential.
All government’s ultimate goal is to maintain a strong and sustainable economy but there are so many factor to consider in making it work right. Economic is a complicated matter but is very important. The government is there to look after its people and one of their goal is to provide everyone a better/higher standard of living. In this report we would like to look at the Philippine economy using the concept of Inflation and will extend the report to the importance of GDP