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Problem # 1:
Up until today, unemployment and underemployment are still major issues in the Philippines.
According to the Philippine Statistics Authority, the unemployment rate was at 5.6%, while the
underemployment rate was 16.3% last July 2017. Generally speaking, both unemployment and
underemployment are economic and social problems. These are economic problems because they
represent waste of a valuable resource - labor. The economy is not operating efficiently as it is throwing
away goods and services that unemployed and underemployed workers could have produced.
Furthermore, these are also social problems because they cause severe suffering as unemployed and
underemployed workers struggle with reduced incomes. The economic distress spills over to affect
people’s emotions and family lives.
Problem #2:
In this day and age, consumers have a difficult time looking for the products they want and need
at a price and quality they are willing to pay. At times, they have to go to different malls and shops just to
look for one specific item. Indeed, this can be extremely frustrating and time-consuming for buyers. On
the other hand, suppliers and producers still struggle at times with selling products to their target market.