The Philippines' Economy: Checkpoint 1

Quick checkpoint - five questions on the Philippine economy, Marcos, land reform, overseas workers and rice.

Question 1 of 5 What drives Philippine growth?

Services and consumption Oil exports Heavy industry Diamond mining

Remittances support consumption.

Question 2 of 5 What characterised the Marcos era?

Martial law and crony capitalism Free trade and democracy Low debt Rapid land reform

It ended with People Power in 1986.

Question 3 of 5 Why did land reform stall?

Landowner resistance and weak implementation No landowners existed Farmers refused land It was completed in a year

It took decades.

Question 4 of 5 What did the Philippines create in 2022 for migrants?

A Department of Migrant Workers A ban on migration A new currency A migrant tax

It built on POEA's system.

Question 5 of 5 What did the 2019 Rice Tariffication Law do?

Replaced import quotas with tariffs Banned rice imports Nationalised farms Removed all rice taxes

Prices fell initially.

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