Service Sector

Question 1

It produces intangible (invisible) outputs - (through) the
application of labor, skills, and technology - that change
the condition of products or persons, or that facilitate
transfer of knowledge or ownership, among others. - NEDA

Answer 1

Service Sector

Question 2

It is responsible for delivering products from the
agriculture and industrial sector to the market.
● It provides public services that bring order to the society.
● It encompasses transportation, telecommunication,
trade, real estate, finance, private, and public services.

Answer 2

Service Sector

Question 3

An organized system of transportation is
a speedy and safe transport of people and products in
the respective destination with affordable prices. It is
ideal that people would have different modes of
transportation to choose from.

Answer 3

● Transportation

Question 4

One sign of an efficient system of
telecommunications is how orderly the message is sent
among the recipients. The line of communication should
be sufficient, has a wide area coverage, accessible,
clear signal, and reasonably priced.

Answer 4

Telecommunication

Question 5

• It is practiced when a consumer and a seller
  agree on a price and quantity of products. The
  producers and the process of trade are under this sector
  because through them the products from the primary
  and secondary sectors reach the consumers.

Answer 5

Trade

Question 6

The assurance of having a stable and strong
financial sector is on the shoulders of banks and nonbank
financial institutions. Savings and investment activities in
banks and nonbank financial institutions are a help to
individuals and to the economy.

Answer 6

Finance

Question 7

• It has two categories: residential (areas that
  are presently used by families for homes), and
  nonresidential (other areas used for commerce or earn
  income.

Answer 7

Real Estate -

Question 8

• They are services that the government
  provides to its citizens. These services are expected on
  the following aspects: Externalities, Imperfect
  Competition, Imperfect Information, Merit Goods, Public
  Goods.

Answer 8

Public Service

Question 9

They are Filipinos working
abroad that cater to their employers’ needs and give
remittances back to the Philippine economy.

Answer 9

Overseas Filipino Workers

Question 10

It outlines how
to start and operate a business within the special
economic zone in the country.

Answer 10

The Special Economic Zone Act of 1995

Question 11

It protects banking
and nonbank financial institutions from money coming
from illegal sources.

Answer 11

Anti-Money Laundering Act of 2011