Home Economics 10
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
LESSON 1: HUMAN DEVELOPMENT AND ENTREPRENEURSHIP
I. The Difference between Developed and Developing Countries
Countries are divided into two major categories by the United Nations, which are developed
countries and developing countries. The classification of countries is based on the economic status
such as GDP (Gross Domestic Product), GNP (Gross National Product), per capita income,
industrialization, and the standard of living. The primary factor used to distinguish developed
countries from developing countries is gross domestic product (GDP) per capita, a figure calculated
by dividing a country's GDP by its population.
Key Differences between Developed and Developing Countries
The following are the major differences between developed countries and developing countries
1. The countries which are independent and prosperous are known as Developed Countries. The
countries which are facing the beginning of industrialization are called Developing Countries.
2. Developed countries have a high per capita income and GDP as compared to developing
countries.
3. In Developed countries the literacy rate is high, but in developing countries illiteracy rate is high.
4. Developed countries have good infrastructure and a better environment in terms of health and
safety, which are absent in developing countries.
5. Developed countries generate revenue from the industrial sector. Conversely, developing
Countries generate revenue from the service sector.
6. In developed countries, the standard of living of people is high, which is moderate in developing
countries.
7. Resources are effectively and efficiently utilized in developed countries.
Developed Countries
This refers to the sovereign state, whose economy has highly progressed, possesses great
technological infrastructure and is industrialized, as compared to other nations. These countries are
also known as advanced countries or the first world countries, as they are self-sufficient nations.
They focus on the industrial sector. It can be called as the secondary sector, and this sector of the
economy is one that make finished products which can then be utilized. Some examples are the
manufacturing industry and construction.
Some indicators are:
1. High GDP 5. Excellent medical, transportation,
2. High child welfare communication and educational
3. Better Health Care facilities
4. Better Housing and Living Conditions
Some examples of Developed Countries are:
Australia Italy
Canada South Korea
France United States
Germany
Developing Countries
1
, Home Economics 10
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
These are the countries with low industrialization and low human development index. They are
going through the initial levels of industrial development along with low per capita income. In other
words, these are the third world countries or lower developed countries. Developing Countries
depend upon the Developed Countries, to support them in establishing industries across the
country. They focus on the service sector. This is also known as tertiary sector, and instead of the
product production, this sector produces services like advice, experience and discussion. Examples
of service sector jobs include housekeeping, tours, nursing and teaching.
Some indicators are:
High Illiteracy Rate
Low Gross Domestic Product
Unequal Distribution of income
Unsustainable government debt
High levels of unemployment and poverty
Poor educational, transportation, communication and medical facilities
Low Human Development Index (the country does not enjoy healthy and safe environment
to live)
Some examples of Developing Countries are:
Colombia
India
Kenya
Pakistan
Sri Lanka
Thailand
Turkey
2
, Home Economics 10
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
II. The Meaning Development and its Core Values
Development
It is the process of improving or maintaining good conditions. It is applicable in business,
economy, culture, political and other aspects.
Economically speaking, development is about sustaining the growth in Gross National
Product (GNP) of National Economy. GNP is almost the same as the income of one country
annually.
The rate of increase in GNP is 5%-7% and more.
According to Michael Paul Todaro, a development economist, development is not solely
improving the economic aspect of the country but also, it is a multi-dimensional phenomenon.
It also includes the improvement of the quality of lives of human in several aspects.
Core Values of Development
1. Life Sustenance - it is the capacity of the economy to provide the basic needs of an individual
such as food, water, shelter and clothes to support life.
2. Self Esteem - It encompasses self-worth and belief to oneself. This is the sense of self-respect
and a self-concept on how someone see his/her worth.
3. Freedom from Servitude - It is state of being free in making decisions. It is also a condition
in which there is no one is controlling someone in making choices and decisions. It is the
freedom from slavery or someone who is powerful and dominant enough.
III. Entrepreneurship and Human Development
According to UNDP Kosovo’s animation video about human development, “human development is
a concept of development that has to do with the creation and improving of living conditions where
people can develop their full potential, can have a long and healthy life, can have access to an
appropriate education system, can develop their full potential to the fullest and be productive in
order to have the opportunity to live according to their needs and interests.” While entrepreneurship,
it is the "...capacity and willingness to develop, organize, and manage a business venture along with
any of its risks in order to make a profit" according to Audiopedia’s video about entrepreneurship.
Connecting these two, human development can be achieved through entrepreneurship. Why? If
people don’t start businesses, they won’t earn money, there won’t be a development because
everything is stagnant. Taking the risk can make you attain development and it also can bring you
3
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
LESSON 1: HUMAN DEVELOPMENT AND ENTREPRENEURSHIP
I. The Difference between Developed and Developing Countries
Countries are divided into two major categories by the United Nations, which are developed
countries and developing countries. The classification of countries is based on the economic status
such as GDP (Gross Domestic Product), GNP (Gross National Product), per capita income,
industrialization, and the standard of living. The primary factor used to distinguish developed
countries from developing countries is gross domestic product (GDP) per capita, a figure calculated
by dividing a country's GDP by its population.
Key Differences between Developed and Developing Countries
The following are the major differences between developed countries and developing countries
1. The countries which are independent and prosperous are known as Developed Countries. The
countries which are facing the beginning of industrialization are called Developing Countries.
2. Developed countries have a high per capita income and GDP as compared to developing
countries.
3. In Developed countries the literacy rate is high, but in developing countries illiteracy rate is high.
4. Developed countries have good infrastructure and a better environment in terms of health and
safety, which are absent in developing countries.
5. Developed countries generate revenue from the industrial sector. Conversely, developing
Countries generate revenue from the service sector.
6. In developed countries, the standard of living of people is high, which is moderate in developing
countries.
7. Resources are effectively and efficiently utilized in developed countries.
Developed Countries
This refers to the sovereign state, whose economy has highly progressed, possesses great
technological infrastructure and is industrialized, as compared to other nations. These countries are
also known as advanced countries or the first world countries, as they are self-sufficient nations.
They focus on the industrial sector. It can be called as the secondary sector, and this sector of the
economy is one that make finished products which can then be utilized. Some examples are the
manufacturing industry and construction.
Some indicators are:
1. High GDP 5. Excellent medical, transportation,
2. High child welfare communication and educational
3. Better Health Care facilities
4. Better Housing and Living Conditions
Some examples of Developed Countries are:
Australia Italy
Canada South Korea
France United States
Germany
Developing Countries
1
, Home Economics 10
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
These are the countries with low industrialization and low human development index. They are
going through the initial levels of industrial development along with low per capita income. In other
words, these are the third world countries or lower developed countries. Developing Countries
depend upon the Developed Countries, to support them in establishing industries across the
country. They focus on the service sector. This is also known as tertiary sector, and instead of the
product production, this sector produces services like advice, experience and discussion. Examples
of service sector jobs include housekeeping, tours, nursing and teaching.
Some indicators are:
High Illiteracy Rate
Low Gross Domestic Product
Unequal Distribution of income
Unsustainable government debt
High levels of unemployment and poverty
Poor educational, transportation, communication and medical facilities
Low Human Development Index (the country does not enjoy healthy and safe environment
to live)
Some examples of Developing Countries are:
Colombia
India
Kenya
Pakistan
Sri Lanka
Thailand
Turkey
2
, Home Economics 10
Second Quarter - Entrepreneurship
Name: ___________________________________________________ Grade & Sec: _____ Date: ______________ 2018-2019
II. The Meaning Development and its Core Values
Development
It is the process of improving or maintaining good conditions. It is applicable in business,
economy, culture, political and other aspects.
Economically speaking, development is about sustaining the growth in Gross National
Product (GNP) of National Economy. GNP is almost the same as the income of one country
annually.
The rate of increase in GNP is 5%-7% and more.
According to Michael Paul Todaro, a development economist, development is not solely
improving the economic aspect of the country but also, it is a multi-dimensional phenomenon.
It also includes the improvement of the quality of lives of human in several aspects.
Core Values of Development
1. Life Sustenance - it is the capacity of the economy to provide the basic needs of an individual
such as food, water, shelter and clothes to support life.
2. Self Esteem - It encompasses self-worth and belief to oneself. This is the sense of self-respect
and a self-concept on how someone see his/her worth.
3. Freedom from Servitude - It is state of being free in making decisions. It is also a condition
in which there is no one is controlling someone in making choices and decisions. It is the
freedom from slavery or someone who is powerful and dominant enough.
III. Entrepreneurship and Human Development
According to UNDP Kosovo’s animation video about human development, “human development is
a concept of development that has to do with the creation and improving of living conditions where
people can develop their full potential, can have a long and healthy life, can have access to an
appropriate education system, can develop their full potential to the fullest and be productive in
order to have the opportunity to live according to their needs and interests.” While entrepreneurship,
it is the "...capacity and willingness to develop, organize, and manage a business venture along with
any of its risks in order to make a profit" according to Audiopedia’s video about entrepreneurship.
Connecting these two, human development can be achieved through entrepreneurship. Why? If
people don’t start businesses, they won’t earn money, there won’t be a development because
everything is stagnant. Taking the risk can make you attain development and it also can bring you
3
