Market Structures in the Philippines Essay
Submitted by : Jake Kevin P Borja BSBM – IIB Submitted to: Ms. Azelle Agdon
Date of submision : October 10, 2012
Any study of economics has to begin with an understanding of the basic market structure of the country. An economy is made up of producers of goods and services, of traders who make these goods and services available in the market, of consumers who buy the goods and services and so on.
Philippine is an industrialized country wherein there is a lot of establishments and firms inside it. A of lot …show more content…
Birth of Meralco in 1903. Meralco started its electric service to Manila by taking over operation of La Electricista's system.However, Meralco built its own steam generating plant on Isla Provisora near the Ayala Bridge which powered the streetcar system and eventually also the electric service.Getting Started, 1903-1905
On April 10, 1905, Meralco's street railway system was formally inaugurated. By year-end, the completed system consisted of about 40 miles (63 km.) of track crossing the business section of Manila and beyond. It passed the busy streets of Binondo, Escolta, San Nicolas, Tondo, Caloocan, Malabon, Quiapo, Sampaloc, Santa Mesa, San Miguel, and other strategic parts of Manila.Constituting for a long time the largest single investment of private capital of any nationality in the Philippines, it reflected a pioneering act of faith in the future of the country
Over the years, Meralco's transportation service grew and improved. Bigger and better streetcars with double wheel-trucks and closed sides were added. The Electric Service Within less than a decade from 1905, the annual earnings of Meralco's Electric Department began to surpass those of Transportation. When war broke out in 1941, Meralco's earnings were roughly 80% electric, 10% autobuses and 10% railway.
There are two types of Monopoly : 1. Regulated Monopoly 2. Non – regulated Monopoly
Regulated Monopoly : The government