Q4 Lesson 4: The Industry Sector Flashcards
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.
Industrial sector
If the agricultural sector is known as the backbone of the economy, the industrial sector is known as the (________________).
lifeblood of the economy
It acquires most of the raw materials for production from the (____________________).
What Sector?
Agricultural sector
Under the industrial sector, there are four main activities. These are (____________________________________)
manufacturing, mining, construction, and utilities.
is the processing of agricultural products, minerals, production of final goods and equipment (ex. Food manufacturing).
Manufacturing
is the extracting of useful minerals from the land (ex. Copper mining for the production of electrical wires).
Mining
refers to the building of factories, commercial, industrial, and residential structures, and other infrastructures (ex. Construction of roads and bridges).
Construction
refer to the production and distribution of electricity, gas, water, and sanitary services (ex. Transmission of electric power).
Utilities
is the application of science to practical human ends, particularly to increase productivity and improve the way of life.
Technology
The use of technology in the industrial sector aids in the productivity of the sector by making it (_)
more efficient in the production of goods.
Improvement in technology has lead to better (_)
construction methods and materials, as well as better production processes.
Why is the industrial sector important?
Give 4 reasons
- 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
This sector processes the raw material into (_)
finished products
Facilities, that support economic development come from this sector as well. These include but are not limited to the following: (_)
storage facilities like warehouses, modern roads and bridges, and seaports and airports.
the needs of the agricultural sector, like (_)
fertilizer, pesticides, farming equipment like rice mills, tractors, and irrigation equipment are supplied by the industrial sector.
Facilities, that support economic development come from this sector as well. These include but are not limited to the following: (_)
storage facilities like warehouses, modern roads and bridges, and seaports and airports.
(_) 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.
Industrialization
(_) is the transfer of ownership and management of a corporation from the government to the private sector.
Privatization
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.
Corazon C. Aquino
is a government entity in charge of disposing of government assets.
Asset Privatization Trust
Asset Privatization Trust – is a government entity in charge of disposing of government assets:
- Assets are held for public bidding
- Negotiated sales
- Direct debt buyouts
These corporations are called non-performing assets of the government because (Complete the sentence)
they are bankrupt and have a big amount of debt.
Some examples of formerly government-owned corporations are:
- 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
(_) of corporations is a principle involving the ownership and operation of vital industries by the government.
Nationalization
