APPLIED

ECONOMICS
Student’s name: ____________________________________ Section: ____________________________

Module 8: Types of Industries for Economic Development

(4th Quarter, 2nd Semester)

All industries use material inputs from other sectors and factor inputs from the general economy and
convert them into a finished product using the production process.

From this module, you will find the following lessons:

Lesson 1: Types of Industries for Economic Development

LEARNING OBJECTIVES
 The learners will be able to determine the contribution of different industries in nation’s economic
development. (DICES)

PRE-ASSESSMENT
Directions: Identify the type of industry that is being described. Write your answer on the space
provided.

Agriculture Health Care Telecommunication

Construction Hospitality Transportation
Education Manufacturing
Food Mining

______________1. This industry deals with the movement of humans, things, and animals by various
modes of transportation.
______________2. It allows people to communicate using words, audio, or video from any part of the
world to any part of the world.
______________3. It consists of cultivating land, plants, and breeding animals to produce foods and other
survival things.
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 ______________4. It is indulged in designing, building, constructing, and maintaining the infrastructure.
______________5. It is a group of schools, colleges, universities, institutes to provide learning, knowledge,
skills, and a degree in various fields.
______________6. It comprises the processing, preservation, conversion, and preservation of eatable items.
______________7. It provides remedial, diagnostic, curative, preventive, rehabilitative, therapeutic services
to patients and people in their old age.
______________8. It provides uncountable services to customers, so this industry is a highly customer-
oriented industry.
______________9. It is the process of converting raw material and components into the final product to sell
in the marketplace for public consumption.
_____________10. It is dedicated to locating and extracting metals from the surface of the earth all around
the world.

LESSON PROPER

Lesson 1: Types of Industries for Economic Development

Copy ONLY the important concepts and accomplish the activity on a separate paper.
LAS No. 8.1
Activity Title: Three Important Industries for Economic Development
Learning Target: The learners will be able to determine the contribution of different industries in
nation’s economic development. (DICES)
Values/Graduate Attribute: The learners will be aware of how economics affects their daily lives and
become responsible for addressing basic economic problems and issues they will encounter.
References: R.K. Laurel & S.J. Zambrano (2018). Applied Economics For The Global Filipino .
SalesianaBooks by Don Bosco Press, Inc.

I. Concept Notes:

INDUSTRY
- It is defined as “the collection of competitors that produces similar or substitute products or services
to a defined market.”
- It is a way of grouping or classifying firms according to their main business activity.
THREE IMPORTANT INDUSTRIES
1. Agribusiness refers to farming, fishing, forestry, production, processing and marketing of
agricultural products.
 List of Agribusiness in the Philippines
Hog Raising Poultry Raising Cattle Raising
Goat Raising Rice Farming Vegetable Farming
Fish Pens Corn Farming
2. Manufacturing refers to the production of goods, including mining, manufacturing, energy
production, and construction.
 Some of the best small manufacturing ideas that can be carried out at your home
Furniture Making
Drinking-Water Business
Soap Manufacturing Business

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 Commercial Bread Baking
3. Services refer to the production of intangible output such as wholesale and retail trade, information
and communication, finance and insurance, and real estate activities. Retail is the process of selling
goods or services to customers through multiple channels of distribution to earn a profit.
 Retail is usually classified by the following type of products:
Food Products
Hard Goods or Durable Goods
Soft Goods or Consumables
Arts
INTERNATIONAL TRADE
- It refers to the exchange of commodities among different countries. Exports are domestically
produced commodities sold to foreign countries. Imports are commodities produced in foreign
countries and sold domestically.

II. Exercise:
Directions: List the different products that are being exported to and imported by the Philippines.
IMPORTED PRODUCTS EXPORTED PRODUCTS
1.
2.
3.
4.
5.

TYPES OF INDUSTRIES

Accommodation and Food Service Activities Information and Communication

Activities of Extraterritorial Organizations and Manufacturing
Bodies Mining and Quarrying
Activities of Private Households as Employers Other Service Activities
Administrative and Support Service Activities Professional, Scientific, and Technical Services
Agriculture, Forestry, and Fishing Public Administrative and Defense, Compulsory
Arts, Entertainment, and Recreation Social Security
Construction Real Estate Activities
Education Transportation and Storage
Electricity, Gas, Steam, and Air-Conditioning Water Supply, Sewerage, Waste Management,
Supply and Remediation Activities
Financial and Insurance Activities Wholesale and Retail Trade; Repair of Motor
Human Health and Social Work Activities Vehicles and Motorcycles

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 MINI TASK

Directions: Read and analyze the article. Answer the questions that follow.

“
Both exports and imports down in December 2020
Philippine December trade data showed exports down slightly by 0.2% while imports declined by
9.1% to close out the year. Exports were expected to post an expansion but outbound shipments to major
trading partner China faltered in December, weighing on the entire sector. The mainstay electronics sector
was a bright spot, up 4.9% but agri-based exports fell a notable 46.8%, likely due to the impact of severe
typhoons that hit the country in November 2020. Meanwhile, imports remained in the red for the 20th
consecutive month with capital imports and fuel imports the main reasons for the contraction. Of note,
however, was the surprise gain in consumer imports, eking out a 1.5% increase for the month which could
give an indication of some resumption of economic activity as select lockdown measures continue to be

”
relaxed.
Source: https://think.ing.com/snaps/philippines-exports-and-imports-slide-to-close-out-2020/

QUESTION: Is it possible that the exports will rise in January 2021?

YOUR CLAIM/ANSWER:

Cite from the article two evidences that support your claim:
EVIDENCE 1:

EVIDENCE 2:

Explain how your evidences support your claim.

REASONING:

Explain the effect of the issue on the international trade of the Philippines. What do you think are the
possible solution for this problem?

CRITERIA 5 4 3 2
The contents are very clear and The contents are very clear and The contents clear, only lacking The contents are almost clear.
contain the necessary some information is aligned in in some necessary information
CONTENT
information that is aligned with the organized ideas. needed in the organized ideas.
the organized ideas.
Ideas are very organized Ideas are very well organized. Ideas are organized. Ideas are almost organized.
ORGANIZATION
accordingly and reached their
OF IDEAS
expectations.

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 MY LEARNING EXPERIENCE

We want to hear your thoughts! Answer the following questions. Write your answers on a
separate sheet of paper.

1. What have you learned from this module?

2. What activities did you find enjoyable and easy?
3. What difficulties did you encounter in accomplishing this module?

REFERENCES

R.K. Laurel & S.J. Zambrano (2018). Applied Economics for The Global Filipino. Salesiana Books by
Don Bosco Press, Inc.
https://businessjargons.com/market-structure.html
https://www.inc.com/michael-gerber/10-guiding-principles-for-start-ups.html
Leano Jr., R.D. (2016). Applied Economics for Senior High School, Mindshapers Co., Inc.

ANSWER KEYS
PRETEST
1. Transportation 2. Telecommunication 3. Agriculture
4. Construction 5. Education 6. Food
7. Health Care 8. Hospitality 9. Manufacturing
10. Mining

POST-ASSESSMENT
(This is a form of Summative Assessment of Module 8 and will be recorded as one of your written
outputs. Write your answers on another sheet of paper.)

I. Directions: Identify the strengths and weaknesses of the three important industries in the Philippines.
MARKET
ADVANTAGE DISADVANTAGE
STRUCTURE
Agribusiness

Manufacturing

Services

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II. Directions: Answer the following questions in not less than three sentences.

A. Why do you think it is important to import and export goods?

_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________

B. During this pandemic, among all the industries, which do you think is the most essential? Explain
your answer.
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________

Rubrics:

CRITERIA 5 4 3 2
The contents are very clear and The contents are very clear and The contents clear, only lacking The contents are almost clear.
contain the necessary some information is aligned in in some necessary information
CONTENT
information that is aligned with the organized ideas. needed in the organized ideas.
the organized ideas.
Ideas are very organized Ideas are very well organized. Ideas are organized. Ideas are almost organized.
ORGANIZATION
accordingly and reached their
OF IDEAS
expectations.

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TRANSMITTED IN ANY FORM OR BY ANY MEANS, WITHOUT THE PRIOR WRITTEN
PERMISSION OF THE AUTHOR.
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