Economic growth, as measured by GDP, is driven by two components: population growth and labor productivity. Labor productivity reflects the capacity for increased output from the existing quantity of labor in the economy.

The two major economic systems in modern societies are capitalism and socialism. In practice most societies have economies that mix elements of both systems but that lean toward one end of the capitalism–socialism continuum.

A mixed economic system is a framework that incorporates both capitalist and socialist elements. A mixed economic system preserves private property and allows a degree of economic independence in capital use but also enables governments to intervene in economic activities to accomplish social goals.

Answer: Indian economy is called a mixed economt because it is neither completely socialist nor capitalist . In india private & public sector both operate in the market. (Government nationalised the banks to get a greater control on the economy, passed a charter for LIC to control life insurance ).

The Philippines has a mixed economy with privately-owned businesses regulated by government policy. It is considered a newly industrialized economy and emerging market, which means it is changing from an agricultural-based economy to one with more services and manufacturing.

The Philippines has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Philippines is a member of the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN).

a mixed economy is the most ideal as it would as it would prevent companies from having too much control over the economy AND allow better gov’t regulations on important commodities. The Philippines has a semi-free market system of economy.

Advantages and Disadvantages of Mixed Economy

• It encourages private initiative.
• There is freedom of choice.
• It ensures that income is distributed equitably.
• It ensures economic development.
• It ensures job security and employment.
• Monopoly is prevented because of the joint participation in economic activities by both the private and public sectors.

Mixed Market Economy

MULTINATIONAL CORP. Western businesses with Philippine offices may have a huge competitive advantage over their non-remote office peers. The available tax cuts, rewards, and numerous other benefits offered by the Philippine government make establishing an overseas office easier than ever.

When multinational corporations invest in a country they create employment opportunities. They account for increased incomes and expenditures in the economy of the host country stimulating growth. Workers also benefit from technology transfer as new machinery is imported into the host country.