Community Of Learners Academy of San Jose/St.

Vincent Institute of Technology

(First Semester) Organization and Management
Name: ______________________________ Gr. 11 Strand: ABM/GAS/ICT/F&B Teacher: Crestena Habal
Module 9: Lesson 5.1: Phases of Economic Development

Economic development refers to the sustained, concerted actions of communities and policymakers
that improves the standard of living and economic health of a specific locality.
Method of measuring economic development is Human Development Index. It was developed by
Pakistani economist Mahbub ul Haq. The Human Development Index (HDI) is a statistic composite
index of life expectancy, education, and per capita income indicators, which is used to rank countries
into four tiers of human development.

Economic growth is the general increase in the country’s products and services output while economic development is a
government policy to increase the economy, social welfare and stability of political environment.

Activity – Economic Development

Direction: Fill in the thinking bubble with words that can contribute in the economic development of our country