Yna Camille R.

Wenceslao

ECO121 / Fri / 12:00-3:00PM

Institutions and Development

1. What is the important institution in the development in a nation?

Institution strongly affect the economic development of countries and act in society at all
levels by determining the framework in which economic exchange occurs. It argues that
institutions support economic development through four broad channels: determining the
costs of economic transactions, determining the degree of appropriability of return to
investment, determining the level for oppression and expropriation, and determining the
degree to which the environment is conducive to cooperation and increased social capital.

2. It’s more than a month already that we are undergoing the ECQ because of Coronavirus.
Identify the different Institutions that support the immediate needs of the people in our
country. Assess what they have done as aid to support COVID -19 patients and the
frontliners.

Many societies in different countries help those who suffer from covid-19 by giving
donation for those who need the most. In our country many of us has suffer from lack of
foods and many people in our country volunteer and donate foods to other people. They
also donate masks and PPE or personal protective equipment to our forntliners. Many
people in our country volunteer to help covid 19 patients and sacrifice themselves even it
might infect them. They stay up in the hospital everyday to fight for the patients who has
covid-19.