ECONOMIC DEVELOPMENT

GACETA. Judy Ann M.

BSA-3B

1. Compare and contrast the concept of development “As A Condition and As A

Process.”

In the concept of “development as a condition” improvement is viewed as just as

financial development. In such manner, Gross National Product (GNP) and Per Capita
Income (PCI) were advantageous pointers of advancement. It doesn't consider the subjective
part of improvement. It is the static concept of the development that only pertains to the
capacity of the national economy to increase production and income.
On the other hand, in the concept of “development as a process” development is defined
as bringing about social change that allows people to achieve their human potential. The
purpose of development is a rise in the level and quality of life of the population, and the
creation or expansion of local regional income and employment opportunities, without
damaging the resources of the environment. Development is a process that creates growth,
progress, positive change or the addition of physical, economic, environmental, social and
demographic components. In this concept, the main focus or basis of development is
improving the quality of all human lives and not just increasing the production and income of
the national economy.

2. One of the most controversial issue that the Philippine is currently facing is President
Duterte’s consent for Philippine Offshore Gaming Operators (POGO) to continue its
operation in the country. According to some economists, it is beneficial to the Philippine
Economy. Relate the concept of economic growth and economic development.
Economic Development means improvement of quality of life and living standards now
that alone would explain why economic growth which means increase in national income is
related to it.
In the case Philippine Offshore Gaming Operators (POGO) which is the official
designation for firms operating in the Philippines that offer online gambling services to
markets outside the Philippines. Online gambling, serves as a stimuli for our mental health.
The more we get the fun we want, the more we spend. So it is hitting two birds with one
stone. As our economy grows the population becomes engage to such interactive
entertainment that produce efficient workforce. The more efficient the people are, the more
they earn and the more they spend. Then that’s basically how we get the cyclical relationship
between economic growth and economic development.
 ECONOMIC DEVELOPMENT
GACETA. Judy Ann M.
BSA-3B