Instant Noodle Market: An Economic Indicator in the Philippines Essay

INTRODUCTIONBackground of the StudyWith the Philippines worsening parsimony, people are sightly more concerned with their expenditures and are shifting their consumption to cheaper ersatzs. Such an alternative for food is heartbeat because these instant noodles are not only tasty and filling, but also very cheap. These three qualities have made it very universal among consumers who are tightening their budget. This paper aims to show that the increasing popularity and sales of this instant noodles are directly related to the worsening condition of the Philippines economy. When consumers experience demoralise income and lower take aim of spending power they tend to substitute cheaper, lower quality goods for relatively more expensive, higher quality goods. In this light, instant noodles are becoming an indicator of the countrys economic performance. Additionally, this increased consumption of instant noodles brings about many health and economic implications.Statement of the Pr oblemIn the incumbent deteriorating state of the Philippine economy, instant noodles, because of their affordability and convenience, are slowly replacing traditional food staples and at the same time, becoming an economic indicator. In this research, the author counsel on how instant noodles are gaining popularity in the Philippines in relation to this products characteristics and the influences of the economy and income per capita. The paper would also solve the following questions how the consumption level of instant noodles is indicative of the countrys economic activity? What are the implications that the growing consumption of instant noodles may have on the Philippine economy and the health of the population?Importance of the studyMore knowledge on this topic could prove useful to understanding how the instant noodle market could live on an effective gauge of a countrys performance and the state of living. In addition, by delving into the subject, more information may be m ade useable and would allow future studies to look more closely on how instant noodles may be improved to further benefit the general population. Also, the growing industriousness may be prove to be useful as a mechanism of providing labor and other forms of economic benefits for the country. As poverty continues to be uncontrolled and resources remain scarce, instant noodles may prove to be a solution to some of the problems faced by the Philippines today.Scope and Limitation of the StudyThe research lead focus on the consumer activity of households with relatively low income and how it would relate to the economy. The survey for this paper will be conducted with 30 respondents at Brgy. 617, a relatively poverty-stricken urban community situated in Sampaloc, Manila. The interview will also take place in the said barangay.Subject AccountingSubject of consequence Instant NoodlesTopic The effects of noodles to those family who has low income Purpose The purpose of this research is to further increase the understanding of how the economic state of a country affects its consumers behaviors towards instant noodles or even similar products. Title Instant Noodles Becoming a Replacement for Traditional Food Staples in Brgy. 617 Sampaloc, Manila and an Indicator of the Philippine Economy.