Senior High School

Applied Economics
Quarter 2 – Module 7
Types of Industries
Applied Economics – Grade 12
Alternative Delivery Mode
Quarter 2 – Module 7: Types of Industries
Second Edition, 2021

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Undersecretary: Diosdado M. San Antonio, PhD
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Applied Economics

Quarter 2 – Module 7
Types of Industries
 Table of Contents
Overview ………………………………………………………………………………. 2
General Instructions…………..………………….………………….………………. 2
What I Know (Pre-test) …………………………………….……….……………….. 3
What I Need To Know ………………………….………………….….……………… 5
Lesson 7 Types of Industries………………………………………………………. 5
What’s In…………………………………………………………………………. 5
What’s New – Activity 1 (Picture Identification)……………………………… 6
What Is It?
Types of Industries……………………………………………………… 6
What’s More – Activity 2 (Fill Me In)……….…………………………………. 8
What I Have Learned – Activity 3 (Sum Me UP)………………..…………… 9
What I Can Do? - Activity 4 (I Can Do This!)………………………………… 9
Additional Activity - Activity 5 (Think and Write)………………………………. 10

Assessment ………………………………………………………………..…………… 10

Answer Key …………………………………………………………………..…………. 12

References ..…………………………………………………………………………….. 12
 OVERVIEW
Dear Teachers and Learners! The writers welcome you all to this Applied Economics
Module. This material tries to bring you to the basic principles of applied economics, and its
application to contemporary economic issues facing the Filipino entrepreneur such as prices
of commodities, minimum wage, rent, and taxes. It also covers an analysis of industries for
identification of potential business opportunities. The main output of the course is the
preparation of a socioeconomic impact study of a business venture.

As your partner in learning, we hope that you will not miss out every detail that we the
writers would like you to learn in this material. Do enjoy it as there are challenging and
interesting activities inside this learning module. Congratulations in advance for this will make
you the master of your own learning.

GENERAL INSTRUCTIONS

For the learners: For the teacher:

To be guided in achieving the To facilitate and ensure the students’
objectives of this module, do the learning from this module, you are
following: encouraged to do the following:

1. Read and follow instructions 1. Clearly communicate learning

carefully.
2. Write all your ANSWERS in your
Activity Book.
3. Answer the pretest before going
through the lessons.
4. Take note and record points for
clarification.
5. Compare your answers against
the key to answers found at the
end of the modules.
6. Do the activities and fully
understand each lesson.
7. Answer the self-check to monitor
what you learned in each lesson.
8. Answer the posttest after you
have gone over all the lessons.
competencies and objectives
2. Motivate through applications
and connections to real life.
3. Give applications of the theory
4. Discuss worked-out examples
5. Give time for hands-on
unguided classroom work and
discovery
6. Use formative assessment to
give feedback
7. Introduce extensions or
generalizations of concepts
8. Engage in reflection questions
9. Encourage analysis through
higher order thinking prompts
10. Provide alternative formats for
student work
11. Remind learners to write their
answers in their Philosophy
Activity Notebook

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 What I Know

Directions. Read the test items carefully and encircle the letter of your choice that
best answers the statement.

1. The exchange of goods and services between countries is called ____________.

A. Agribusiness C. Retail Industry

B. International Trade D. Wholesale

2. It is the process of raw materials into finished goods through the use of tools and
processes.

A. Agribusiness C. Service
B. Manufacturing D. Retail

3. Which of the following statement is correct.

A. A product that is sold to global market is an import.

B. Export is an international trade whereby the goods/services are brought into
one country from another.
C. Import is an international trade whereby goods produced in one country are
shipped to another country for future sale or trade.
D. International trade gives countries the opportunity to be exposed to goods and
services not available in their own countries.

4. It refers to the exchange of goods and services between countries.

A. Exporting Goods C. International Trade

B. Importing Services D. National Economic Trading

5. It is an organization of people where goods and services are exchanged for one
another or for money.

A. Business C. Commodities
B. Partnership D. Services

6. A type of business which provides intangible products to the customers.

A. Hybrid business C. Manufacturing business

B. Merchandising business D. Service business

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7. A type of business where they buy products or raw materials for the purpose of
transforming it into finished product to be sold to the customers.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

8. This business is also known as “buying and selling” business.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

9. An industry that produces value that is primarily intangible such as advice,

consultation, customer service, knowledge, management, data and experiences.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

10. It relates to industries that are engaged in farming or that produce farm inputs.

A. Agribusiness C. Retail
B. Service D. Manufacturing

Great job!
Later we will see if your answers are correct by reading the rest of this module.

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 Lesson Types of Industries
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What I Need To Know

Objective: After going through this module, the learners should be able to:

1. Distinguish the different services/products of business and industry in the

locality.

What’s In

Industries are those which are mainly concerned with production. Goods
produced are those which may be intended for ultimate consumption and which are
called consumer’s goods, or those which are intended for use of business and industry
and which are called producer’s goods.

Industry may be further classified into the following: (1) genetic; (2) extractive;
(3) manufacturing; and (4) construction.

Genetic industries are businesses involved in agriculture, forestry, and fish

culture.

Extractive industries are businesses involved in the extraction of goods from

natural resources which include mining, lumbering, hunting, and fishing.

Manufacturing industries are those which convert raw materials into finished
products. Examples of these are firms engaged in the manufacture of drugs, plastics,
food, liquor, footwear, motor cars, tools, office supplies, household appliances, and
many others.

Construction industries consist of firms engaged in building infrastructures like

airports, seaports, dams, and highways. Those involved in the construction of dwelling
houses are included.

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 What’s New
Activity 1. Picture Identification

Directions: Identify the following pictures below whether it is agribusiness, retail,

service, manufacturing, and international trade.

3. ______________ 2. ______________ 1. ______________

5. ______________ 4. ______________

What Is It?

TYPES OF INDUSTRIES

1. Agribusiness

The agricultural sector has been an important component of the Philippine

economy. It has been a major source of employment to millions of Filipino workers
and it contributed one third of the of the country’s Gross Domestic Product in 1970’s

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but it declined to 8.74% in 2016. Because of this,a number of initiatives have been
implemented to enhance the sector’s productivity. One of these is the development of
the production of food grains and crops like rice, banana, pineapple, coffee, camote,
monggo, corn, coconut and calamansi. The development of fish and animal production
have been implemented too. For animal production, there are two types that can be
engaged to one is livestock and the other is poultry. These two are commonly engaged
by the small entrepreneurs which provide livelihood that can provide income and
employment opportunities to poor households.

2. Retail

Retail includes the sale of merchandise from a one point of purchase directly to
a consumer who tends to utilize that product. The single purchase could be a brick-
and-mortar retail store, a catalog, an internet shopping website, or even a mobile
phone.

The retail activity is at the last point of the chain. Manufacturers sell huge
quantities of goods to retailers, and retailers tends to sell those same quantities of
goods to customers.

3. Service

A service industry is any industry that produces value that is primarily

intangible such as advice, consultation, customer service, knowledge, management,
data and experiences. Advanced economies are undergoing a long term shift whereby
service industries are turning into a larger component of economic output similar to
other industries such agriculture and manufacturing.

The following are common examples of service industries.

SERVICE INDUSTRY EXAMPLES
Hospitality Hotel, Restaurant
Transportation Flight and Tour
Media/Entertainment Newspaper, Cinema
Healthcare Hospital, Clinic
Finance Bank Loan/Investment Agency

4. Manufacturing

Manufacturing is the processing of raw materials into finished goods through

the use of equipment,tools and processes. Manufacturing is process that allows
enterprises to sell finished products at a price over the cost of the raw materials used.
Manufacturing, any industry that produces products from raw materials by the
use of human labor or machinery and that is normally carried out orderly with division
of work. In the common sense, manufacturing denotes the assembly of parts into
finished products on an equal large scale. Among the most essential manufacturing
industries are those that make aircraft, computers, chemicals, refined petroleum

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products, consumer electronic, clothing, electrical equipment, furniture, heavy
machinery, ships, steel, automobiles, and tools and dies.

5. International Trade

International trade is the exchange of services and goods from one country to
another. This type of trade gives opportunity to a world economy, in which prices, or
demand and supply, affect and are affected by global events.
Trading worldwide gives consumers and countries the chance to be exposed to
goods and services that cannot be found to their own countries. Most of the productsthat
can be found on the international market: food, water, stocks, clothes, spare parts,oil,
jewelry, currencies, and wine. Services are also traded like consulting,tourism,
transportation and banking. A product that is sold to the international market is
an export, and a product that is bought from the international market is an import.

What’s More
Activity 2. Fill Me In

Directions: Identify which type of industries are the following statements can be
associated with. Write the letter that corresponds to your answer in the space provided
for.
A. Agribusiness C. Service E. International Trade
B. Retail D. Manufacturing

1. Production of livestock and poultry are done mostly by poor households

as backyard and livelihood ventures.
2. Vegetable oil is one of the Philippines top export product.
3. Maria works in a Spa and Beauty Salon in the city.
4. Flor bakes cupcakes and sells it in a cheaper price.
5. Sarah owns a boutique. She buys her stocks in bulk and sells it by piece.

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 What I Have Learned?
Activity 3. Sum Me UP

Based on the lesson, I have realized that ______________

___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________

What I Can Do?

Activity 4. I Can Do This!

Suggest a business that you want to put up. Justify your choice of business. Discuss
the environment that should be studied in terms of the location you decided to choose.
Based on the environmental analysis, identify all the factors that need to be studied in
the specific environment/location. Do this in your journal.

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 Additional Activity
Activity 5. Think and Write

Think of a product/services available in your town and classify them whether it

is agribusiness, manufacturing, retail and services or international trade. Internalize to
what kind of industry prevailing in your town and give more business integration.

Assessment

POST-TEST

Directions. Read the test items carefully and encircle the letter of your choice that
best answers the statement.

1. The exchange of goods and services between countries is called ____________.

A. Agribusiness C. Retail Industry

B. International Trade D. Wholesale

2. It is the process of raw materials into finished goods through the use of tools and
processes.

A. Agribusiness C. Service
B. Manufacturing D. Retail

3. Which of the following statement is correct.

A. A product that is sold to global market is an import.

B. Export is an international trade whereby the goods/services are brought into
one country from another.
C. Import is an international trade whereby goods produced in one country are
shipped to another country for future sale or trade.
D. International trade gives countries the opportunity to be exposed to goods and
services not available in their own countries.

4. It refers to the exchange of goods and services between countries.

A. Exporting Goods C. International Trade

B. Importing Services D. National Economic Trading

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5. It is an organization of people where goods and services are exchanged for one
another or for money.

A. Business C. Commodities
B. Partnership D. Services

6. A type of business which provides intangible products to the customers.

A. Hybrid business C. Manufacturing business

B. Merchandising business D. Service business

7. A type of business where they buy products or raw materials for the purpose of
transforming it into finished product to be sold to the customers.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

8. This business is also known as “buying and selling” business.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

9. An industry that produces value that is primarily intangible such as advice,

consultation, customer service, knowledge, management, data and experiences.

A. Service business C. Manufacturing business

B. Merchandising business D. Hybrid business

10. It relates to industries that are engaged in farming or that produce farm inputs.

A. Agribusiness C. Retail
B. Service D. Manufacturing

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 Answer Key

PRE-TEST ASSESSMENT

10. A 5. A 10. A 5. A
9. A 4. C 9. A 4. C
8. B 3. D 8. B 3. D
7. C 2. B 7. C 2. B
6. D 1. B 6. D 1. B

ACTIVITY 1. PICTURE IDENTIFICATION

3. Retail

5. Service 2. Manufacturing

4. International trade 1. Agribusiness

ACTIVITY 2. FILL ME IN

5. B 4. D 3. C 2. E 1. A

References

Dinio, Rosemary P. and George A. Villasis. Applied Economics. Manila,

Philippines. Rex Book Store, 2017.
Leańo, Roman Jr. D. Fundamentals of Economics with Agrarian Reform,
Taxation and Cooperatives (A Modular Approach). Manila, Philippines.
Mindshapers Co., Inc. 2012.

Villegas, Bernardo M. Basic Economics. Manila, Philippines. Center for

Research and Communication Foundation, Inc., 2010.
Cartoon farm with domestic farm animals and agriculture premium vector by
Krylovochka. Retrieved: https://wdrfree.com/stock-
vector/download/agriculture-and-farming-agribusiness-185717680

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Factory Cartoon. Retrieved: https://www.subpng.com/png-sl89i7/

Cartoon Grocery Store. Retrieved: https://depositphotos.com/vector-images/cartoon-

grocery-store.html

Signe Wilkinson’s Editorial Cartoons - International Trade. Retrieved:

https://www.cartoonistgroup.com/subject/The-International+Trade-Comics-
and-Cartoons-by-Signe+Wilkinson%27s+Editorial+Cartoons.php

Cleaning Service Concept Cheerful Cartoon Vector Image. Retrieved:

https://www.vectorstock.com/royalty-free-vector/cleaning-service-concept-
cheerful-cartoon-vector-255320

For inquiries or feedback, please write or call:

Department of Education – Division of Misamis Oriental
Don A. Velez St., Cagayan de Oro City
Contact No. (08822) – 724615 / (088) 856 – 4454
Email Address: misamis.oriental@deped.gov.ph
depedmor@gmail.com

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