m Itis the part of the economy engaged in

various economic activities, including

manufacturing, mining and quarrying,
construction, and the provision of public
utilities.

m Also known as §
§


 @
 
is usually less capital intensive than heavy
industry, and is more consumer-oriented than business-oriented
(i.e., most light industry products are produced for end users
rather than as intermediates for use by other industries).
Examples of light industries include the manufacture of clothes,
shoes, furniture, consumer electronics and home appliances.
Conversely, ship building would fall under heavy industry.

 @

 
does not have a single fixed meaning as
compared to light industry. It can mean production of products
which are either heavy in weight or in the processes leading to
their production. In general, it is a popular term used within the
name of many Japanese and Korean firms, meaning 'construction'
for big projects. Example projects include the construction of
large buildings, chemical plants, the H-IIA rocket and also
includes the production of construction equipment such as cranes
and bulldozers.
he monetary value of all the finished goods and services
produced within a country's borders in a specific time period,
though GDP is usually calculated on an annual basis. It includes all
of private and public consumption, government outlays,
investments and exports less imports that occur within a defined
territory.
J
 J  
where:
"" is equal to all private consumption, or consumer spending, in
a nation's economy
"J" is the sum of government spending
"" is the sum of all the country's businesses spending on capital
"" is the nation's total net exports, calculated as total exports
minus total imports. (NX = Exports - Imports)
m Is engaged in diverse activities, including the
process of basic agricultural products and
primary minerals, the production of final
consumer goods, and the manufacture of
equipment and machinery.
m he leading industries in the manufacturing
sector in terms of the value of their products are
food manufacturing, petroleum and coal
production, production of chemicals, etc.
m Philippine provinces have different kinds of
manufactured products. Examples in Cebu and
Davao City are plywood and lumber mills,
furniture firms, food processing plants, and
cement factories.
m It is also known as the Ú

Ú

 because
it is engaged in the extraction of precious metals
and other minerals from the natural and mining
resources of the country.
Mining - he process or business of extracting ore
or minerals from the ground.
Quarrying - o dig or take from
m he leading activities of this category in terms of
value or production were copper mining, gold
mining, and stone quarrying.
m heprocess or art of constructing; the act
of building

m hiscategory refers to the building of

factories, commercial structures and
residential buildings.
m he quality or condition of being useful;
usefulness
m Includes economic activities that provide
electricity, gas, water and sanitary
services to households, business firms,
and other sectors of the country.
m Example is public utility which was
produced by the government.
m 6

 
Πis the process of increasing the contribution of the
manufacturing sector to the total output of the economy.
m Industrialization is the process of moving from primary production
to secondary or higher levels of production. For example, coconut is
processed into coconut oil, coco chemicals, desiccated coconut,
coconut candies, etc. his is what is meant by the saying that
industrialization results in the production of commodities with a high
value added.
m It can also create employment opportunities and increase the
proportion of labors in the production process. It has the potential of
creating new products and has the potential of absorbing additional
laborers.
m It is also a market for the products of the agricultural sector as well.
m he production of final goods which consumers increasingly
demand as their incomes to higher levels.
m he industrial sector not only produces commodities for
consumption. It also manufactures raw materials as intermediate
products for further processing by other industries.
 hese are enterprises which produce
limited amounts of a variety of commodities,
from handicrafts to processed foods. hey
hire few workers, mostly members of
households who work in the homes and
invest a small capital generated from
household savings. For example farmers
might take in extra sewing or make cloth,
which was then sold to a larger retailer, in
order to earn a few extra money during the
slow months of winter.
he second category of industries consists
of enterprises employing from 5-199
workers.

hey have more capital compared to

cottage industries. heir production
activities are not usually attached to
households. Examples of this are
garment factor and supermarkets.
hese require a large capital investment
and employ more workers compared to
small- and medium-scale industries.
Large-scale industries produce
homogenous products for the rest of the
economy like cement, steel, fertilizers,
and copper. Examples of these are steel
and power plants.
 

 can be defined as the state of the art of transformation
of raw materials into finished products by the use of productive
inputs like land, labor, and capital.
 A process biased toward the use of labor in relation to capital is
called a   § 


  Labor intensive
techniques of production are usually used in economies having
sufficient supply of cheap labor.
 A
  § 

 is one biased in the use of capital
inputs in relation to labor and other inputs. his is where techniques
are used to produce that use relatively more capital than labor.
 G  is when government policies can make a factor
resource expensive in relation to other factors. he imposition of a
wage floor makes labor more expensive and encourages firms to
employ more capital-intensive techniques.
   

 


 

 

 





  








 
 

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with bed capacity of 100 or less
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Employing 15 workers or less Regularly employing less than (10)

workers
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