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What was the economy of the Spanish colonies?

What was the economy of the Spanish colonies?

During the Spanish colonial period, the economy was based on exploitation, both of land and of Native American labor. The first Spanish settlers organized the encomienda system by which Spaniards were given title to American land and ownership of the villages on that land.

What were the economic activities during the Spanish colonization?

Economy The Spaniards implemented economic programs which are mainly about land ownership and taxes. The programs are encomienda, hacienda, imposition of different kinds of taxes, galleon trade, monopoly and polo y servicios.

What is the economic system of the Philippines before Spaniards came?

The barter system was implemented at that time and the pre-colonial people enjoyed a life filled with imported goods which reflected their fashion and lifestyle.

What economic system does Philippines belong?

mixed economic system
The Philippines has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Philippines is a member of the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN).

Why mixed economy is best for Philippines?

a mixed economy is the most ideal as it would as it would prevent companies from having too much control over the economy AND allow better gov’t regulations on important commodities. …

What did people use during the pre Spanish period?

Like in our structures today we see some concepts or influences that were use during Pre Spanish period like houses today we still use cement consisted of stones were in we know that stones were use during pre spanish.

What kind of economy did the Spanish have?

How did Spanish rule affect the Philippine economy?

But It neglected the development of the colony’s local industries which affected the Indios since agriculture was their main source of income.

What was life like in the pre colonial era?

Pre Colonial and Spanish era. During the Pre Colonial period, people didn’t have any religion or belief because before we were free. We had everything in our hands and we were free to do anything we wanted. We didn’t have anything ruling over us and dictating us what is needed to be done. And before, we can tell easily how people lived before.