ACTIVITY 3. UNLOCKING OF IMPORTANT TERMS/CONCEPTS.

1. Technocrat
- model of governance wherein decision-makers are chosen for office based on
their technical expertise and background. A technocracy differs from a
traditional democracy in that individuals selected to a leadership role are
chosen through a process that emphasizes their relevant skills and proven
performance, as opposed to whether or not they fit the majority interests of a
popular vote.
2. Bureaucrat
- is a member of a bureaucracy and can compose the administration of any
organization of any size, although the term usually connotes someone within
an institution of government.
3. Westernization
- the adoption of the practices and culture of western Europe by societies and
countries in other parts of the world, whether through compulsion or influence.
4. Modernization
- in sociology, the transformation from a traditional, rural, agrarian society to a
secular, urban, industrial society.
5. Economic Recession
- a significant decline in economic activity spread across the market, lasting
more than a few months, normally visible in real GDP, real income,
employment, industrial production, and wholesale-retail sales.
6. Economic Depression
- is a period of sustained, long-term downturn in economic activity in one or
more economies. It is a more severe economic downturn than a recession,
which is a slowdown in economic activity over the course of a normal
business cycle.
7. Gross National Product
- the total value of goods produced, and services provided by a country during
one year, equal to the gross domestic product plus the net income from
foreign investments.
8. Gross Domestic Product
- is the standard measure of the value added created through the production of
goods and services in a country during a certain period.
9. Red tape
- something that takes much longer than it should and involves more
procedures, forms, or rules than make sense. Applying for a passport or a
driver's license is well known for the amount of red tape involved.
10. Medium term Philippine development plan (MTPDP)
- first medium-term plan anchored on this national long-term vision. It seeks to
lay a stronger foundation for more inclusive growth, a high-trust and resilient
society, and a globally competitive knowledge economy.