Essay On Economics In The Philippines

1027 Words5 Pages

Economics is an academic discipline that deals or studies the use of goods and services, production of these goods and services, distribution of outputs and consumption of commodities in a society. ( Mendoza & Tapang, 2001) Economics is considered to be a science because it is a systematized body of truth settled with reference to general laws and principles. It means many things to almost all people. Our decisions sometimes depend sometimes on economic considerations such as what profession or job to enter, where to work and where to live. Economics has something to do directly with us, which includes the earning of our incomes and spending our money. It also affects us indirectly. Economic policies help determine the level of production and …show more content…

(2) Power generation capacity is low while the other countries have twice to 11 times the amount of primary energy supply. (Oplas, B. S. Jr., 2015) Power generation in the Philippines is generally competitive with companies like GENCOS whacking each other. Our power transmission is a national monopoly and electricity distribution is back up to geographical monopolies, largely the 120 electric cooperatives nationwide. Unlike the electricity market in other countries like Australia (The Manila Times, 2014) the electricity market in the Philippines is a combination of competition and monopoly. Some articles say that expensive electricity is only due to the scarce resources of power plants. Or it is only being imposed by RA 9513 or Renewable Energy (RE) Act of 2008, according to Department of Energy, this is “AN ACT PROMOTING THE DEVELOPMENT, UTILIZATION AND COMMERCIALIZATION OF RENEWABLE ENERGY RESOURCES AND FOR OTHER PURPOSES” (www.doe.gov.ph) that causes additional fees. And the most cases are due to abusing of power of monopoly that has been the nature of every monopolist I think. (Oplas , B. S. Jr.,

Open Document