ED - PRELIM

Indicators of Economic Growth and Development

Productivity

means the amount of goods and services produced from each unit of labor. It is obvious to see that the key factor in defining the standard of living are the advances in this.

• O-ring theory of economic development was proposed by this economist in 1993 that explains a production is composed of a set of tasks and each task must be carried out proficiently for each one of the tasks to have value.

• was proposed by economist Michael Kremer in 1993 that explains a production is composed of a set of tasks and each task must be carried out proficiently for each one of the tasks to have value.

• One of the most popular models that are used to understand long-term growth is with the use of this

  
  

• gross domestic product per worker, capital per worker, depreciation rate, savings and investment rates are factored in the analyzing growth.

  
  

• The model was developed by this American economist and a Nobel Prize Winner in Economic Sciences (Nobel Prize 1987)

• The Philippines ranks? out of estimated 211 countries or states in terms of per capita GDP

• Leftists and separatists