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Applied Economics: Senior High School
Applied Economics: Senior High School
Applied Economics
Quarter 2 – Module 8.1:
Business Principles, Tools, and
Techniques in Participating in
Various Types of Industries in the
Locality
Writer:
Writer:
CINDY M, RONQUILLO
CINDY
Teacher M.
III-SHS in RONQUILLO
Apalit (Stand Alone 1)
T-III, SHS IN APALIT(STAND
Cluster Vi ALONE 1), Cluster VI
Editors: Editors:
JANE P. VALENCIA, Ed.D.– ABM Supervisor
JANE P. VALENCIA, EdD – Math/ABM Supervisor
KARINA B. HERNANDEZ – Teacher III
CHAIRMAN
LEI BARAWID/KARINA B. HERNANDEZ
What I Need to Know
This module was designed and written with you in mind. It is here to help you apply
business principles, tools and techniques in participating in various types of industries in the
locality. The scope of this module permits it to be used in many different learning situations.
The language used recognizes the diverse vocabulary level of students. The lessons are
arranged to follow the standard sequence of the course. But the order in which you read
them can be changed to correspond with the textbook you are now using.
What I Know
Choose the letter of the best answer. Write your answer on a separate sheet of paper.
a. Enterprise c. Logistics
b. Industries d. Trade
a. Barter c. Wholesale
b. Retail d. Trade
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3. This is an agribusiness which involves planting rice, the staple food of the
Filipinos.
b. Consumables d. Substitutes
9. An agribusiness that produce yellowish cereal plant and also use for animal
feeding.
15.During pandemic crisis, hospitality and health care services are essential and
these are classified as_____.
a. Primary Industry c. Tertiary Industry
Many individuals think of industries in a larger scale as big businesses that produces
goods with big plants and machineries. Not many knows industries also produces goods
and services in different sectors of society such as agriculture, transportation, hospitality
and others. As you go through lesson, you will learned that industries can be classified
into different categories for better understanding of the different types and make it
easier to study.
What’s In
Before we begin the new lesson, I want you to recall what you have learned about the
different business principles in creating a business. Now, the letters of the words below are
jumbled. Figure out what the word is and write it on the blank line provided and gives its
meaning.
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1. LCAALITIBYS _________________ - ________________________________
2. RLIITBIFPYOAT _________________ - ________________________________
3. GIB ADEI _________________ -________________________________
4. ASNALYTTISBIIU _________________ -________________________________
5. UOTMNOAY _________________ -________________________________
What’s New
Look around you. Change is constant. So many industry businesses flourish in your
community just like the story of Mr. Wrigley’s
The story of William Wrigley Jr.- soap salesman who became the world’s best gum
manufacturer. In the 20th century, chewing gum made William Wrigley Jr. one of the
wealthiest men in America. In 1891, when William Wrigley Jr. was 30 years old, he moved
to Chicago with his wife Ada and their daughter Dorothy, opening a new branch of his
father’s company where he continued to sell soap and offered baking powder as a
premium. He soon realized that baking powder became a huge hit as a freebie and that
customers were more interested in getting baking powder than soap, so he and his partner
decided to switch to baking powder business. Now baking powder became the primary
product of William Wrigley Jr. Company, but he also offered gum as a premium. As baking
powder’s popularity used to surpass that of the soap, so did the chewing gum packages
offered with every baking powder became more popular than the baking powder itself.
Wrigley soon abandoned baking powder, entered the gum industry and in 1893, he offered
two new gum brands, Juicy Fruit and Wrigley’s Spearmint.
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Answer the questions below:
1. What is the type of business of Mr. Wrigley’s?
________________________________________________________________
________________________________________________________________
Based on the activity, you have now an idea of what is an industry and to
understand it better let us get to know the different types of industries
and the different services they offer.
What is It
Types of Industries
This lesson will focus on industries, although many school textbooks list only three levels,
more advanced books classify industry into five levels. The terms for each level originate
from Latin words referring to the numbers one to five.
Classification of Industry
In the Philippines, we use the Philippine Standard Industrial Classification (PSIC). The PSIC is
a detailed classification of industries prevailing in the country according to the kind of
productive activities undertaken by establishments. The 2009 PSIC was patterned after the
UN International Standard Industrial Classification (ISIC) Rev. 4, but with some modifications
to reflect national situation and requirements.
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The following are major industries in the Philippines:
Agribusiness - a business that earns most or all of its revenues from agriculture. An
agribusiness tends to be large scale operations and deals with farming, processing and
manufacturing, packaging and distributing agricultural products.
List of Agribusiness in the Philippines
These are list of some profitable agribusiness out there these are processed fruits and
vegetable, seaweeds, tropical fruit purees and juices, fresh tropical fruits, sugar, bio ethanol
and others.
Manufacturing
The process of converting raw materials, components, or parts into finished goods that
meet a customer’s expectations or specifications. There are many laws and regulations that
govern the manufacturing industry. The business will be require to conform to all the
licensing bodies may it be the government or the local authority’s requirements.
Some of the best small manufacturing businesses that can be carried out at your
residence are:
1. Furniture Making – make or create furniture such as lockers, bookshelves,
showcases, chairs, tables, etc.
2. Drinking Water Business- Business that sell drinking water package in a plastic
bottles or container.
3. Soap Manufacturing business- business that produce different soap products.
4. Commercial Bread Making- bread making is easy and simple business that can be
done at home
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individuals. Recently, online retailing, a type of electronic commerce used for business – to –
consumer (B2C) transactions and mail order, are forms of non – shop retailing.
Types of Retail Products:
1. Food products – typically require cold storage facilities.
On the other hand, The typical service business provides intangible products, such as
accounting, banking, consulting, cleaning, landscaping, education, insurance, treatment,
and transportation services.
International Trade
International trade is the exchange of capital, goods, and services across
international borders or territories, significant share of gross domestic product (GDP). While
international trade has been present throughout much of history its economic, social, and
political importance has been on the rise in recent countries. It is the presupposition of
international trade that a sufficient level of geopolitical peace and stability are prevailing in
order to allow for the peaceful exchange of trade and commerce to take place between
nations.
Trading globally gives consumers and countries the opportunity to be exposed to new
markets and products. Almost every kind of product can be found on international market:
food, clothes, spare parts, oil, jewelry, wine, stocks, currencies, and water. Services are also
traded: tourism, banking, consulting, and transportation. A product that is sold to the global
market is an export, and a product that is bought from the global market is an import.
Import and exports are accounted for in a country’s current amount in the balance of
payments.
What’s More
The teacher would like to assess your understanding about the lesson. Now I want you to
read and answer the following activities
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Activity 1. Below are list of company’s logos that are well known in the Philippines. Write
in the space provided what type of industries the company is classified into whether
Primary or Secondary or Tertiary or Quaternary, or Quinary.
1- ___________________________
2-___________________________
3- ___________________________
4-___________________________
5-___________________________
6-___________________________
7-___________________________
8-________________________
Activity 2.Directions: Choose the letter of the correct answer from the list of words
in the box and write it in blank space provided.
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a. Manufacturing f. Soft Goods
b. Agribusiness g. Hog raising
c. Vegetable farming h. Fish Pens
d. Retail i. Rice Farming
e. Food Products j. PSIC
_______1. This industry employs man and machinery to process raw materials into finish
goods.
_______2. These are type of retail products that usually require cold storage.
_______3. This is an acronym stands for Philippine Standard Industrial Classification
which is a detailed classification of industries prevailing in the Philippines.
_______4. Consumables are the other term for these goods.
_______5. Cars, appliances, electronics and lumber are examples of these products.
_______6. This business is involves in farming, processing, and packaging of agricultural
products.
_______7. Raising tilapia, catfish, prawns, and bangus to earn revenue is their main line
of business.
_______8. Piggery business is one of the most lucrative businesses in agriculture.
_______9. Tomatoes, bell pepper, pechay, eggplant and bitter gourd are products of this
business.
_______10. In this business, shops in the residential streets are part of this business.
Activity 3. Now, I want you to identify ten (10) retail products that are sold your
community and classify them. Write your answer on the table below.
What I Have
Learned
Directions: Choose the letter of the correct answer from the list of words in the box
and write it in blank space provided.
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_______1. This industry employs man and machinery to process raw materials into finish
goods.
_______2. These are type of retail products that usually require cold storage.
_______3. This is an acronym stands for Philippine Standard Industrial Classification
which is a detailed classification of industries prevailing in the Philippines.
_______4. Consumables are the other term for these goods.
_______5. Cars, appliances, electronics and lumber are examples of these products.
_______6. This business is involves in farming, processing, and packaging of
agricultural products.
_______7. Raising tilapia, catfish, prawns, and bangus to earn revenue is their main
line of business.
_______8. Piggery business is one of the most lucrative businesses in agriculture.
_______9. Tomatoes, bell pepper, pechay, eggplant and bitter gourd are products of
this business.
_______10. In this business, shops in the residential streets are part of this
business.
What I Can Do
Essay.
5 PT. RUBRIC
Big Idea! Can you recommend manufacturing ideas/products that are profitable
during this pandemic crisis Covid 2019 and why?
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Assessmen
t
Choose the letter of the best answer. Write your answer on a separate sheet of paper.
1. The process of selling goods and services through sales channel to reach its
consumers.
a. Barter c. Retail
b. Discounts d. Trade
3. This involves raising of chickens, ducks, and other domesticated birds for meat
and egg for human consumption.
4. Production of products using labor, machines, methods, and tools for use or sale.
6. It deals with raising of pig or swine for livestock and human consumption.
8. This business deals with creation or production of goods like tables, chairs, and
cabinets.
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a. Hog raising c. Furniture Making
10. A business that deals with farming, processing and manufacturing, packaging and
distributing agricultural products.
a. Agribusiness c. Retail and Services
11.Deals with selling of one of the basic consumption of man which is water.
a. Drinking Water Business c. Bakery
13.Internet provider, janitorial services and health care are part of this industry.
15.This industry that take raw materials from earth and sell it for use or undergo
manufacturing process.
a. Primary Industry c. Tertiary Industry
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