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    Why Is There A Need To Study Economic Development

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    jaycee
    The document discusses the need to study economic development and identifies three core values: sustenance, self-esteem, and freedom from servitude. Sustenance involves meeting basic needs like food, shelter, health and protection. Self-esteem relates to dignity, respect and identity. Freedom from servitude means having freedom from bondage and exploitative relationships. Economic development aims to address issues like poverty, unemployment, and inequality in developing countries to improve people's quality of life.

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    Why Is There A Need To Study Economic Development

    Uploaded by

    jaycee
    208 views1 page
    The document discusses the need to study economic development and identifies three core values: sustenance, self-esteem, and freedom from servitude. Sustenance involves meeting basic needs like food, shelter, health and protection. Self-esteem relates to dignity, respect and identity. Freedom from servitude means having freedom from bondage and exploitative relationships. Economic development aims to address issues like poverty, unemployment, and inequality in developing countries to improve people's quality of life.

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    notes in studying devEco

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    Why is there a need to study economic development

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    The document discusses the need to study economic development and identifies three core values: sustenance, self-esteem, and freedom from servitude. Sustenance involves meeting basic needs like food, shelter, health and protection. Self-esteem relates to dignity, respect and identity. Freedom from servitude means having freedom from bondage and exploitative relationships. Economic development aims to address issues like poverty, unemployment, and inequality in developing countries to improve people's quality of life.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    208 views1 page

    Why Is There A Need To Study Economic Development

    Uploaded by

    jaycee
    The document discusses the need to study economic development and identifies three core values: sustenance, self-esteem, and freedom from servitude. Sustenance involves meeting basic needs like food, shelter, health and protection. Self-esteem relates to dignity, respect and identity. Freedom from servitude means having freedom from bondage and exploitative relationships. Economic development aims to address issues like poverty, unemployment, and inequality in developing countries to improve people's quality of life.

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    1. Why is there a need to study economic development?

    Explain three (3) core values of


    development. Provide at least three (3) example for each core values.

    There is a need to study economic development because economic development mainly focuses on the
    structural changes in every area of the economy. It tries to bring improvements in institutions, technology
    being used in industries and many other areas. It identifies the economic problems, causes and their
    consequences in the developing countries and also tell how to overcome these problems. For instance,
    Pakistan is facing multiple economic problems like poverty, unemployment, unequal distribution of
    wealth, limited resources, corruption and many other or social issues. Therefore, economic development is
    concerned with these issues and develops strategies that will enable people to break the vicious circle of
    poverty and backwardness. So that every individual of the developing country will enjoy a quality life.

    Core values:

    Sustenance

    - is the ability to meet basic needs of people. All people have certain basic needs without which life
    would be impossible. These basic needs include food, shelter, health, and protection. People should
    have access to these basic needs.

    Self-Esteem

    - Sense of worth and self-respect and feeling of not being marginalized are extremely important for
    individual’s well being. All peoples and societies seek some form of self-esteem (identity, dignity,
    respect, honor etc.). The nature and form of selfesteem may vary from on culture to another and from
    time to time. Self-esteem may be based on material values: higher income or wealth may be equated
    with higher worthiness. One may consider individuals worthy based on their intellect or public service.

    Freedom from Servitude

    -Human freedom, the ability to choose, is essential for the well being of individuals. Freedom involves an
    expanded range of choices for societies: economic and political. It involves freedom from bondage,
    serfdom, and other exploitative economic, social, and political relationships.

    2.

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