The economy of the Filipinos before and after the Spanish period can be summarized as follows:
- The Filipinos used the barter system before the Spanish period
- They imported goods before the Spanish period
- The Philippine economy depended on the Galleon Trade during the Spanish period
What is an Economy?
This refers to the state of a country with regard to its production and consumption of goods.
Hence, we can see that the Filipino economy relied heavily on the barter system and the importation of items before the Spanish period, but during the Spanish period, they depended on the Galleon Trade during the Spanish period
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