COURSE:

ECONOMIC DEVELOPMENT
Topics:
1.Economic Theory
2.Review of Basic Economic Concept
3.Demand and Supply of Resources
4.Importance of Allocation of Resources
IV. Activity
Classify the following
statements as either
Normative or Positive
Economics.
__________________ 1. A decline in income
will lead to an increase in demand for
generic brands of supermarket
__________________ 2. Pollution is the
greatest economic problem.
__________________ 3. If the government
will increase the tax on liquors and
wines, this will lead to a fall in profit for
the industry manufacturer
__________________ 4. Unemployment is
more serious economic problem than
inflation.
__________________ 5. Reduction in income
tax will give the unemployed increased
incentive to seek jobs.
__________________ 6. The government is
doing right to introduce a ban on
smoking in public places.
__________________ 7. The government
should increase the minimum wage by
300% to reduce poverty
__________________ 8. Higher interest rates
on loans will reduce debts.
__________________ 9. Lower interest rates
on savings will reduce deposits.
__________________ 10. The retirement age
among Filipinos should be raised to 70
to resolve ageing of population.
 VI. Other Reading Materials

Links
http://www.businessdictionary.com/definition/allocation-of-
resources.html
http://www.learneconometrics.com/
 VII. References

Dowling, J.M. and Valenzuela, R. (2012). Economic

Development in Asia, Second Edition, Singapore: Cengage
Learing Asia Pte Ltd.
Todaro, M. & Smith, S. (2015). Economic Development,
Twelfth Edition, USA: Pearson
Mutya, R. (2017). Economics with Agrarian Reform and
Taxation, Anvil Publishing Inc.