Term Paper in Social Study
Article XII :
“National Economy and Patrimony”
Tamayo, Gene-Eu Mel Francis
Wacal, Kit Bobbie
Mr. Rufino Domilio Jr.
IV – MODESTY
In this Article XII, it refers to a National Economy and Patrimony Sections. The Concept of National Economy and Patrimony. The national economy refers to the entire structure of economic life in a country. The concept of national patrimony refers to the store of wealth or accumulated reserves of a national economy and also to the natural resources of our country. Productivity is the ability, capacity of effectivenesss for making greater output out of every unit of input employed (ex: per worker, per hectare of land). The Three-fold goals of the national economy. Equity, one important aid in promoting equity is the control of monopoly and the prevention of unfair competition. Economic growth is conventionally measured by the increase of the Gross National Product (GNP) which is the estimated value of all goods and services produced by the economy in a given year. The Guidelines in the development of the national economy. Self-reliant economy, Independent economy, Economy effectively controlled by Filipinos. Classification of lands of the public domain. This provision classifies lands of the public domain into four(4) categories according to their specific uses, as follows: Agricultural, Forest or timber, Mineral and National parks.
Congress may further classify by law agricultural lands of the public domain according to the uses to which they may be devoted. For instance, they may be classified residential, resettlement, grazing, etc.
The goals of the national economy are a more equitable distribution of opportunities, income, and wealth; a sustained increase in the...
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