Doña Jay Ian C Ma. Karla Ligaya S.

Castro
BS-Agriculture sec.A GEC 104

Analysis of Socialism and Capitalism in relation with the Philippine society

which of these economic system would work better in our country? Why?

Capitalism system is owned by the private sector who will take control and dictated
the price based on the product demand. And in Capitalism it is not possible to
manipulate the demand of product and increasing the price base on what they want and
for that matter their will be more consumer will suffer. unlike the Socialism which is
owned and controlled by the government in terms of economic equality. And for this
kind of system there will be more consumer will get the benefits of this. And also the
government will provide what is the most suitable and efficient needs for all of the
consumer.

On my own analysis regarding the Socialism and Capitalism in relation with the
Philippine society I think I must prefer to choose Socialism as it is being controlled by
the government in terms of promoting equality in the society and also Socialism is being
effective in terms of economic growth in our country.