Entrepreneurial Mind Quiz 2

Economic Activities:

o Trade primarily operated on a barter system, where goods were exchanged without the use of money.

o Commonly traded items included rice, gold, textiles, pottery, and forest products.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

Trading Partners:

o Neighboring countries such as China, Indonesia, Malaysia, and India.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

Entrepreneurial Features:

o Small-scale enterprises were run by Filipino families or clans.

o Specialization in crafts like weaving, blacksmithing, and boat-making supported a self-sufficient economy.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Connected Manila to Acapulco, Mexico, becoming a significant trade route.

o Philippine products like silk, spices, and porcelain were traded for silver.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Large agricultural estates were established to grow cash crops like sugar, tobacco, and abaca for export.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Adoption of a free-market system allowed greater participation by Filipinos in business.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

introduced formal education with a focus on business and technical training.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Establishment of corporations and modern business practices, such as accounting and finance.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Rise of prominent Filipino business families who established their names in agriculture and retail.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends

o Railroads, ports, and roads improved trade and commerce.

• Pre-colonial Era

• Spanish Colonization

• American Period

• Post-War Recovery and Industrialization

• Present-Day Trends