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    ECODEV

    Uploaded by

    Efrileen Muico
    The document discusses economic development and its importance for business students. It defines economic development as a process that makes a nation's economy wealthier through factors like higher income, better education, health, and technology. Business students need to learn economic development because it is relevant to understanding business concepts like interest rates and exchange rates. The document also discusses how economic development differs between nations due to variables like government policies and inequality.

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    ECODEV

    Uploaded by

    Efrileen Muico
    23 views2 pages
    The document discusses economic development and its importance for business students. It defines economic development as a process that makes a nation's economy wealthier through factors like higher income, better education, health, and technology. Business students need to learn economic development because it is relevant to understanding business concepts like interest rates and exchange rates. The document also discusses how economic development differs between nations due to variables like government policies and inequality.

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    The document discusses economic development and its importance for business students. It defines economic development as a process that makes a nation's economy wealthier through factors like higher income, better education, health, and technology. Business students need to learn economic development because it is relevant to understanding business concepts like interest rates and exchange rates. The document also discusses how economic development differs between nations due to variables like government policies and inequality.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views2 pages

    ECODEV

    Uploaded by

    Efrileen Muico
    The document discusses economic development and its importance for business students. It defines economic development as a process that makes a nation's economy wealthier through factors like higher income, better education, health, and technology. Business students need to learn economic development because it is relevant to understanding business concepts like interest rates and exchange rates. The document also discusses how economic development differs between nations due to variables like government policies and inequality.

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    I. What is economic development?

    Why is the study of economic development

    necessary to a Business Course student? For me, Economics is about society or

    social systems in which its concern is the basic needs and wants of an individual

    or a country. Development is you are improving something like for example, a

    country’s economic status, you are going to do something for that country to rise

    or to improve and that is development for me. So, Economic Development is the

    process in which a nation’s economy become more wealthy, gets a better

    education, healthier, and wide internet access or advancement of technology.

    This talks about the developing countries that have been developed overtime.

    Economic Development is necessary to a Business Course student because it is

    one of the ways to be in a the business world. Learning EcoDev involves interest

    rates and exchange rates. Business affiliates with Economics that is why you

    cannot enter into the business world if you haven’t studied about Economic

    Development. This subject may help you not just only into getting to your job

    but also improving your personal skills. Business Course students needs to learn

    EcoDev to know the different models in developing a country or a country that is

    planning to be on a higher level status.

    II. What is Comparative Economic Development? How does Economic

    Development among nations differ? What certain standards does nations share in

    terms of Economic Development? Comparative Economic Development defines the

    country’s level of development and its comparison to another country. Based on

    what we’ve discussed, one of its example to know the difference between one

    country to another is the average income of a country. The reason why Economic

    Development differs among nations is because of the government itself. The way

    they lead one’s country. Also, it is maybe because of Inequality, nation’s


    inequality to be exact. I think that is why it is hard to make developing countries

    become developed because there is an inequality among their people and there is

    a problem with the coordination of its government.

    III. The Philippines is one among nations hardly hit by the Covid Pandemic. How

    does the Pandemic impact on the Health, Business and Labor environment of the

    country? As of today, Covid Pandemic cases are continuously rising and until

    now we still do not have the vaccine to maybe lessen the active cases here in our

    country. This virus affects many and destroys lots of human lives that is why the

    Life expectancy of our country would surely decrease because the virus is

    affecting human health and it weakens an individual’s body or immune system

    when they get infected by the virus. There are establishments that decided to

    close for the meantime because they couldn’t risk their employee’s lives. No

    work means no pay that is why our economy is also affected because there’re

    establishments who pays taxes but since they decided to stop their production,

    maybe paying taxes would also be stopped by then. Example of business

    establishments are the Malls or Super Malls. As I’ve heard

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