1.

Laissez - faire theory - this theory explains that the government should not interfere in
economic activities. The currently existing example of this theory is when a homeowner
or an entrepreneur is allowed to plant or sell whatever they want to grow in their front
yard without having consent from the government. 
2. Keynesian Theory - This theory explains that the government should play the key role in
economic development. The example for this theory is that when an entrepreneur gets a
paper like BIR, Mayor’s Permit is something that the government can check so that their
store or business will not close. 
3. Ricardian Theory - This theory is from david ricardo he explains that this theory focuses
more on agriculture that plays the major role in our economic development. The example
of this theory is that the philippines is the one who exports goods from other countries
but up to current days the other countries are the one who export us goods. 
4. Harrod-Domar Theory - This theory is conceptualized by sir harrod and prof domar, this
theory explains that more products can be produced through the use of machines. The
current example of this theory is that the machinery that the farmers and fishers use is a
machine to make their product fast and to be sold and exported fast. 
5. Kaldor theory - this theory is from nicholas kaldor he explains that the application of
modern technology in the production of goods and services has been responsible for the
economic success of highly developed countries. The current example for this theory is
that the entrepreneurs use high tech technology like Japan and america today they are
one of the countries that has a modern and advanced technology that they use to
produce more products that can be exported to other countries. 
6. Innovation theory -  this theory is by joseph schumpeter he explains that this theory
stresses out the role of entrepreneurs or innovators in economic development. The
current example of this theory is that making the bottle a light bulb, solar lights, solar
rechargeable hearing aids and mobile water safety check these are some of the
innovations that have been made. 

2. The one economic action that I noticed during the pandemic is that the government did not
forget about his/her people, they gave us 25 kilos of rice, can goods like sardines, corn beef and
beef loaf. They also gave people who are in real finance problems during the pandemic or covid
19. The government did not forget to tell and announce that people should not go to crowded
places, wear masks at all times. 

3. The reason that we have a less developed economy is that we do not have enough materials/
technology to be used when making more products, unless in other countries that have a more
standard technology. Another reason is that we are one of the countries that deals with more
population and raises standard of living.

4. The one form of economic exploitation made by anti government is that forms of exploitation
is human trafficking and modern slavery. This exploitation is made by a syndicate who are one
of the anti governments that do illegal things to people. Another one exploitation is drug users
and the corrupt. 

6. The first Cebuano successful entrepreneur is Kenneth Cobonpue, he is a multi awarded

furniture designer and manufacturer from Cebu Philippines, his furniture design and
manufacturing company founded by his mother Betty Cobonpue in 1972. He also faces tough
challenges including the absence of technology for furniture here in the Philippines, creation of
his own brand designs and the loss of some clients. But he did not give up and he created
modern designs using natural fibers and materials. Today the cobonpue brand receives more
recognition around the world. The second entrepreneur is that atty. Augusto w. Go is the
president and chairman of the University of Cebu, a philanthropist, educator, lawyer and
entrepreneur. In 1964 he founded the cebu college of commerce with less than 500 students but
today it is called university of cebu and one of the country’s largest private universities with
more than 50, 000 students in 44 campuses. He also earned various or awards such as
excellence in the field of education, the great cebuano award and the sinugbuanong
komentarista sa pagpakabana because he does not choose people who wants to enroll to his
school whether you are poor or rich as long as you want to reach your goals and you want to
study you can enroll because he is like that when he was young the school does not have any
that its bankrupt or being pushed down but this school have more campuses in cebu city.