Social Studies 9 Reviewer

improvement of quality of life , human dignity and justice.

• Development

• Progress

• Physiocrats

• Theory

_______________ are economist led by Francois Quesnay , who believe d in the rule of nature

• Marxists
• Physiocrats
• Capitalists
• Socialists

He believed in in free competition , because it is the mechanism that gives greater advantage and benefits to the individuals and society than to the economy.

• The theory of Physiocrats

• Theory of Adam Smith

• Theory of David Ricardo

• Neoclassical School

His theory  centered on the advantages provided by the possession of natural resources, particularly land.

• Theory of Physiocrats

• Theory of Adam Smith

• Theory of David Ricardo

• Neoclassical School

This group of economist follows the ideas of the classists. They believe that there are underlying factors that contribute to the development and progress of the country.

• The Theory of Physiocrats

• Theory of Adam Smith

• Theory of David Ricardo

• Neoclassical School

is a change thar develops and makes the production faster in order to improve the economy

• Innovation
• Physiocrats

• Progress

• Development

This theory comes from the idea of Joseph Schumpeter who emphasized the significant role of an innovator in the economic development.

• Innovation Theory

• Theory of Adam Smith

• Theory of David Ricardo

• Neoclassical School

Is the capacity of the government to provide all the needs of the people for basic needs like food, shelter and clothing to social services – education , healthcare, peace and order and employment

• Communism
• National Development

• Socialism
• Anarchy

Is sustained growth that creates job , lures the majority into the economic and social mainstream and unceasingly reduces mass poverty.

• Exclusive growth
• Limited growth
• Unequal growth
• Inclusive growth

The Government immediately needs to redeem its massive infrastructure projects which have been delayed due to lack of capital

• Massive Infrastructure Development

• Higher Governance Standards

• Human development and human capital formation

• Direct poverty relief