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3. Describe how the pandemic has affected the socio-economic growth and development of the Philippine economy. What tool or principle may be applied to solve the issue? Explain.

Sagot :

Answer:

The COVID-19 crisis has exposed the vulnerabilities of individuals, societies and economies, calling for a rethink of how economic and social activities are organised. The crisis calls for strong responses based on solidarity, co-operation and responsibility. Social economy organisations (associations, co-operatives, mutual organisations, foundations and social enterprises), whose business models are built around such principles can help reshaping the post-crisis economies and societies. This note presents the role the social economy and its actors have played in the COVID-19 crisis. It further explains the current challenges faced by the social economy and highlights selected policy instruments and recommendations to support social economy actors in their efforts to “repair” and “transform” societies.