Student's List how to Develop Philippine Economy

How to develop our Economy?

1. Buying and consuming our own Products



Our own products must be bought and consumed by us. Loyally buying and consuming our own products means a lot to the manufacturers and especially to our economy. We must practice this method to help our country in maximizing the revenue and giving back to us the taxes paid by our tax payers. Filipinos must discipline itself to buy manufactured products made here in Philippines rather than buying imported ones.

2. More Competitive Business
   

   Many people in this country are trying to engage the business world, but some lack the factors needed before starting it. Business in general must have a goal and the will to endure the consequences afterwards. Competitive business will definitely develop our economy which means our good quality products will surely help us face the crisis regarding our economy.

3. Wise use of Resources




Philippines have a very abundant source of resources like land crops, aquamarine products and workforce. These resources that we have must not be set aside or abused by us. We must use them properly and preserve them also. They give a huge factor in developing our economy.

4. Wants vs. Needs
   
   

   We, the consumers, must have a distinction of what we need over the want. At this point of our economy, we Filipinos must be disciplined in the proper way of buying things. We must first consider the factors: the benefits, the budget, and the purpose of buying these products. Filipinos must implement this practice of not buying glamorous and expensive things but rather practice austerity measures of all departments and the cabinet members.

5. Government Rules

   
   The Government must strengthen its rules in implementing the tax to the tax payers and to business firms. Even government officials must file their tax responsibility to the government and to the people. They must be disciplined in a way that no more corruptions will occur… “I hope so”. :) And aside from just the tax law, other laws or codes of the Philippines must be enforced as well and not just being passed on to the congress or the senate with minimal response.