“Economic Development”

What is Economic Development?

 It is the process in which a country’s economy be more advanced- richer and more developed.
We use the term mainly for developing or emerging economies.

 Economics Branch of Social Science that deals with allocation of limited resources of production,
distribution and consumption of goods and services to satisfy the unlimited needs and wants of
people.

Economic Progress Economic Growth Economic Development

Economic Development Strategies

•Creating more job and more job variety. Keeping Businesses and getting new one.
• More productive use of properties.
•Promoting community’s assets. Making and selling local products.
•Invest in Education.
• Invest in Healthcare
•Infrastructure.

ADVANTAGES
•Reduce Poverty
• Better Education
•Higher Incomes
•Improve Government Finance
•Increase Life Expectancy
•Technology advancement
DISADVANTAGE
•Inflation
•Pollution
• Use of Non-renewable Resources
• Inequality
•Current account deficit.

Sustainable Development Goals

 SDG aims to transform our world. They are a call to actions to end poverty and Inequality,
protected the planet, and ensure that all people enjoy health, justice & prosperity.

 The SDG also aims to encourage sustained economic-development and economic growth by
achieving higher levels of productivity and through technological Innovations.

Economic Developments In the Philippines

• Access to Justice and Support for Rule of Law
•E-PESO
•A Structural transformation of the economy.
•Urbanization
•Access to technological advancements.
•Size and Growth in the Workforce.
• Increase In Job Opportunities.