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What Is The Type Of Economic System In The Philippines?

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No
I think the economic system in the philippines is capitalism or market economy in which
the price is the most important factor in this system....
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"Mixed economy" is the type of economic system that was used here in the Philippines.
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Socialism-which is the combination of the capitalism and communism. The strategic industries are owned and managed by the state but the minor industries belong to the private sector.
thanked the writer.
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Anonymous commented
I don't know if it's correct to say that socialism is the *combination* of capitalism and communism.
Communism & Socialism are on the same scale --> Planned/Command economies where the govt decides what goods and svcs will be produced, who gets them and how the economy should grow
Capitalism is on the other end of the spectrum --> A Free Market Economy where the market determines what goods and svc are produced & yada, yada, yada.
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Anonymous commented
Con'td ....But maybe I'm just just misunderstanding the context of your words. IF that's the case, sorry...

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