What is the best economic system for the Philippines?
Mixed Market Economy. – A mixed economy is an economic system that includes a variety of public and government control, or a mixture of capitalism and socialism. – There is not one single definition for a mixed economy, but relevant aspects include: a degree of private economic freedom (including privately owned industry) intermingled with centralized economic planning and government regulation (which may include regulation of the market for environmental concerns, social welfare or efficiency, or state ownership and management of some of the means of production for national or social objectives). Elements of a mixed economy The elements of a mixed economy typically include a variety of freedoms: * to possess means of production (farms, factories, stores, etc.) * to participate in managerial decisions (cooperative and participatory economics) * to travel (needed to transport all the items in commerce, to make deals in person, for workers and owners to go to where needed) * to buy (item
