Grade 9 Economics

SY 2019-2020
4th Quarter Summative Assessment #1

Score: ____/20
Name: Hwijun Kim Section: G9 – Josiah

Learning Competencies:
 Give own meaning of economic development AP9MSPIVa-1
 Analyze the indicators of economic development AP9MSPIVa-2

Definition. Define the following terms in the space provided.

1. What is Economic Development?
Economic development is the growth of the standard of living of people like life expectancy, welfare.

It occurs when GDP and GNI increase. .

2. What is Economic Growth?

Economic growth is country’s increased production capacity, resulting in increase in actual output of

country’s economy. The result of economic growth is increase in GDP.

Table Matrix: Complete the table on the space provided. (2 points each)
Indicator & Gross Development Product Human Development Life Expectancy Poverty Rate
Questions (GDP) Index (HDI)

What is the GDP is important because if Human Development High life expectancy Poverty rate is an
importance of there is no increase in GDP, Index is important can mean that the indicator whether a
these the country can’t use enough because it helps us to economy of a country’s economy
indicators of money for people’s standard know how a country is country is well- is growing or not. If
economic of living. Therefore, if GDP doing for people’s developed that it the economy is
development doesn’t improve, then there welfare like life provides better growing, there will
isn’t economic development. expectancy and GNI. welfare to its be an increase of
(2 Points) citizens like income which in
healthcare and turn lowers poverty
social services. rate.

Explain the With the prevalence of COVID-
impact of 19, the country has stopped
CoVid-19 to most of its manufacturing
these businesses except for the
indicators of essentials like rubbing alcohol
development. production and PPEs for
medical personnel. It means
(2 points) that there will be a very low
production rate that in turn
will result in low GDP for a
country.
HDI will definitely The life expectancy Since most non-
decrease as a result of with COVID-19 will essential businesses
COVid-19. Since most definitely become are closed, a lot of
people are out of jobs, lower. Since it employees are out
there will be low GNI. affects and kills of jobs. This can
COVID-19 affects and mostly senior result in higher
kills mostly the elderly. people, it will result poverty rate for
This will result in low in a drastic change coming year.
life expectancy. of life expectancy
average for many
countries.