Q4 Lesson 4: The Industry Sector

Question 1

It is the sector that consists of facilities and equipment used for producing, processing, or assembling goods. It is also connected to the production of consumer and capital goods, which is needed by the economy.

Answer 1

Industrial sector

Question 1

If the agricultural sector is known as the backbone of the economy, the industrial sector is known as the (________________).

Answer 1

lifeblood of the economy

Question 2

It acquires most of the raw materials for production from the (____________________).

What Sector?

Answer 2

Agricultural sector

Question 3

Under the industrial sector, there are four main activities. These are (____________________________________)

Answer 3

manufacturing, mining, construction, and utilities.

Question 4

is the processing of agricultural products, minerals, production of final goods and equipment (ex. Food manufacturing).

Answer 4

Manufacturing

Question 5

is the extracting of useful minerals from the land (ex. Copper mining for the production of electrical wires).

Answer 5

Mining

Question 6

refers to the building of factories, commercial, industrial, and residential structures, and other infrastructures (ex. Construction of roads and bridges).

Answer 6

Construction

Question 7

refer to the production and distribution of electricity, gas, water, and sanitary services (ex. Transmission of electric power).

Answer 7

Utilities

Question 8

is the application of science to practical human ends, particularly to increase productivity and improve the way of life.

Answer 8

Technology

Question 9

The use of technology in the industrial sector aids in the productivity of the sector by making it (_)

Answer 9

more efficient in the production of goods.

Question 10

Improvement in technology has lead to better (_)

Answer 10

construction methods and materials, as well as better production processes.

Question 11

Why is the industrial sector important?

Give 4 reasons

Answer 11

• It processes the raw materials
• It supplies finished products and equipment to the agricultural sector
• It provides employment
• It earns foreign currency for the country

Question 12

This sector processes the raw material into (_)

Answer 12

finished products

Question 13

Facilities, that support economic development come from this sector as well. These include but are not limited to the following: (_)

Answer 13

storage facilities like warehouses, modern roads and bridges, and seaports and airports.

Question 14

the needs of the agricultural sector, like (_)

Answer 14

fertilizer, pesticides, farming equipment like rice mills, tractors, and irrigation equipment are supplied by the industrial sector.

Question 15

Facilities, that support economic development come from this sector as well. These include but are not limited to the following: (_)

Answer 15

storage facilities like warehouses, modern roads and bridges, and seaports and airports.

Question 16

(_) is the expansion of industries and the mechanization of all forms of production in order to have a sufficient supply of goods that are needed by the industry.

Answer 16

Industrialization

Question 17

(_) is the transfer of ownership and management of a corporation from the government to the private sector.

Answer 17

Privatization

Question 18

Privatization is the transfer of ownership and management of a corporation from the government to the private sector. This was one economic measure taken by former Philippine president (_) to minimize the responsibilities of the government to corporations that are owned or controlled by the government that are not performing well.

Answer 18

Corazon C. Aquino

Question 19

is a government entity in charge of disposing of government assets.

Answer 19

Asset Privatization Trust

Question 20

Asset Privatization Trust – is a government entity in charge of disposing of government assets:

Answer 20

• Assets are held for public bidding
• Negotiated sales
• Direct debt buyouts

Question 21

These corporations are called non-performing assets of the government because (Complete the sentence)

Answer 21

they are bankrupt and have a big amount of debt.

Question 22

Some examples of formerly government-owned corporations are:

Answer 22

• Philippine Airlines – PAL Holdings (part of LT Group)
• Manila Hotel – Emilio Yap
• Petron Corporation – San Miguel Corp.
• Philippine National Bank – LT Group
• Global Steel Philippines (formerly National Steel Corporation) – No longer in operation

Question 23

(_) of corporations is a principle involving the ownership and operation of vital industries by the government.

Answer 23

Nationalization

Question 24

Some examples of these government-owned businesses are:

Answer 24

• National Power Corporation
• Philippine Charity Sweepstakes
• Philippine General Hospital

Question 25

are enterprises that branch out to many parts of the world to have a bigger market for their products and an outlet to invest the capital they have accumulated.

Answer 25

Multinational corporations

Question 26

(_) is tasked to create a business-friendly environment.

Answer 26

DTI (Department of Trade & Industries)

Question 27

(_) is charged with maintaining and managing a stable investment environment.

Answer 27

BOI (Board of Investments)

Question 28

(_) tasked to encourage investors both local and foreign to invest in the Philippines.

Answer 28

PEZA (Philippine Economic Zone Authority)

Question 29

(_) supervises the buying and selling of corporate stocks & securities in the Philippine Stock Exchange.

Answer 29

SEC (Securities and Exchange Commission)