What comes to your mind when you hear the word ‘economy’? A car manufacturer? Workers sewing up the buttons on clothes? Bananas? How about fast-food chains like McDonald’s?
The economy is what is typically measured in order to gauge the wealth of a country, in turn based on the goods and services that are found there. A simple financial reckoning divides the world between the rich, or high-income, and the poor, or low-income, countries. The Philippines in 2000 fell somewhere in the lower middle-income group, by the World Bank’s standards.
In this module, students will get a brief glance at the state of the Philippine economy. The module describes major economic activities, features and aspects that can help give a clearer picture of the Philippines and the Filipinos.