Introduction to Economic Development

Fill-in-the-blank practice flashcards covering definition and goals of economic development, historical perspectives, Philippine legislative examples, and the role of institutions and governance.

Economic development is a process of __________ transformation aimed at improving the overall well-being of a society.

structural

Increasing the overall productive capacity of the economy leading to higher income and wealth is known as economic __________.

growth

In the Philippines, the expansion of the __________ industry over the past two decades significantly contributed to GDP by creating millions of jobs in urban centers like Metro Manila, Cebu, and Davao.

Business Process Outsourcing (BPO)

The Philippine government's conditional cash transfer program aimed at poverty reduction is called the __________.

Pantawid Pamilyang Pilipino Program (4Ps)

Free tuition and other school fees in state universities and colleges (SUCs) are provided under the Universal Access to Quality Tertiary Education Act, also known as RA __________.

10931

Universal healthcare coverage and health service access for all Filipinos are mandated under RA __________, also known as the Universal Health Care (UHC) Act.

11223

Equal access to education, employment, transportation, and public services for PWDs is protected under the Magna Carta of Persons with Disabilities, or Republic Act No. __________.

7277

The law promoting the development and use of renewable energy sources such as solar, wind, hydro, biomass, and geothermal in the Philippines is RA __________.

9513

The Philippines' supreme audit institution that promotes transparency and accountability in public funds is the __________.

Commission on Audit (COA)

The nationwide infrastructure initiative launched under the Duterte administration was called the __________ program.

“Build, Build, Build”

Technological advancement in service delivery and identity management in the Philippines is supported through the __________.

National ID System (PhilSys)

In early stages of economic development, pre-industrial societies focused primarily on __________ agriculture and limited trade.

subsistence

Prevalent in medieval Europe, feudalism and __________ influenced economic development through hierarchical structures and land ownership patterns.

manorialism

Popular in the mid-20th century, __________ theory emphasized industrialization, technological transfer, and Western-style institutions.

Modernization

In the late 20th century, globalization and __________ policies emphasizing free markets and minimal government intervention gained prominence.

neoliberal

Enforcing contracts and protecting property rights through strong legal systems establishes a stable environment known as the rule of __________.

law

Securing __________ rights incentivizes individuals and businesses to invest in land, capital, and innovation.

property

The TEDxMcAllen talk featured in Activity #1 titled "Educational Experiences Drive Economic Development" was presented by __________.

Mark Hanna