Podcast
Questions and Answers
Which of the following is included in the primary sector?
Which of the following is included in the primary sector?
What does the secondary sector primarily do?
What does the secondary sector primarily do?
What are the three main sectors of the economy?
What are the three main sectors of the economy?
Primary, Secondary, Tertiary
The ______ sector includes industries that market and sell products.
The ______ sector includes industries that market and sell products.
Signup and view all the answers
The tertiary sector includes manufacturing industries.
The tertiary sector includes manufacturing industries.
Signup and view all the answers
Match the sectors of the economy with their primary activities:
Match the sectors of the economy with their primary activities:
Signup and view all the answers
What is the GDP contribution of the primary sector?
What is the GDP contribution of the primary sector?
Signup and view all the answers
As of the first half of 2016, what was the contribution percentage of the tertiary sector to GDP?
As of the first half of 2016, what was the contribution percentage of the tertiary sector to GDP?
Signup and view all the answers
What are the main sectors of the economy?
What are the main sectors of the economy?
Signup and view all the answers
Which of the following is included in the Primary sector?
Which of the following is included in the Primary sector?
Signup and view all the answers
Which sector is primarily responsible for processing raw materials into goods?
Which sector is primarily responsible for processing raw materials into goods?
Signup and view all the answers
What does the Tertiary sector cover?
What does the Tertiary sector cover?
Signup and view all the answers
The contributions of the Primary sector to GDP is ___%.
The contributions of the Primary sector to GDP is ___%.
Signup and view all the answers
In 2016, the GDP of the Service Sector was ___ million pesos.
In 2016, the GDP of the Service Sector was ___ million pesos.
Signup and view all the answers
The Secondary sector includes industries like agriculture.
The Secondary sector includes industries like agriculture.
Signup and view all the answers
Name one industry under the Primary sector.
Name one industry under the Primary sector.
Signup and view all the answers
Study Notes
Chapter 3: Industry Analysis and Environmental Scanning
- This chapter focuses on industry analysis and environmental scanning for business opportunities.
- Learning outcomes include identifying economic sectors and related industries, distinguishing products and services within a region, and understanding industry tools for opportunity recognition.
Sectors of the Economy and Related Industries
- Businesses are grouped into industries based on similarities in outputs, processes, or attributes.
- Industries are grouped into economic sectors based on production methods.
- Primary sector: Extraction of raw materials from natural resources (e.g., agriculture, fishing, mining).
- Secondary sector: Processing raw materials into finished goods (e.g., manufacturing, construction).
- Tertiary sector: Marketing and selling of raw and manufactured products (e.g., trade, transport, finance).
GDP Contributions by Sector
- Data (from 2014-2016) shows the percentage distribution of GDP across the three sectors.
- Primary sector: ~9%
- Secondary sector: ~33%
- Tertiary sector: ~58%
Industry Breakdown and 2014-2016 Data
- Detailed data for particular industries is provided in a tabular format for years 2014, 2015, and 2016, separated by sector and sub-sector.
- Agriculture, Hunting, Forestry and Fishing (including sub-divisions)
- Mining and Quarrying
- Manufacturing (including sub-divisions)
- Construction
- Electricity, Gas and Water Supply
- Transport, Storage, and Communication
- Trade and Repair of Motor Vehicles, Motorcycles, Personal and Household Goods
- Financial Intermediation
- Real Estate, Renting, and Business Activities
- Public Administration and Defense; Compulsory Social Security -Other Services
Key Industry Components (Primary, Secondary, Tertiary)
- The primary sector includes farming, fishing and other agricultural activities.
- The secondary sector includes mining, quarrying, manufacturing and construction.
- The tertiary sector includes transport, storage, and communication, trade and repair of motor vehicles, financial intermediation and real estate, renting and business activities, public administration and public security.
Porter's Five Forces Model
- A critical framework for evaluating industry competition:
- Threat of New Entrants: Barriers to entry (economies of scale, product differentiation, capital requirements, etc.)
- Bargaining Power of Suppliers: Supplier concentration, availability of substitutes, product differentiation, and switching costs.
- Bargaining Power of Buyers: Number of buyers, product differentiation, switching costs, and buyer threat of backward integration.
- Threat of Substitutes: Relative price and quality of substitutes, switching costs for buyers
- Rivalry of Competitors: Number of competitors, similar product characteristics, industry growth, fixed costs, competition intensity.
SWOT Analysis
- A tool for analyzing a business's internal (strengths and weaknesses) and external factors (opportunities and threats).
- Strengths: Internal factors that give a firm an advantage.
- Weaknesses: Internal factors that hinder a firm's performance.
- Opportunities: External factors that can help a firm succeed.
- Threats: External factors that can harm a firm.
Additional Considerations
- The free rider problem: The availability of public goods to everyone can lead to market failure.
- Externalities: Positive or negative effects of consuming a good on other parties
- Examples of merit and demerit goods.
- Key industry classifications. Some examples include Global Industry Classification Standard (GICS), International Standard Industrial Classification (ISIC), Standard Industrial Classification (SIC), the North American Industry Classification (NAIC), and the Philippine Standard Industrial Classification (PSIC).
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz covers Chapter 3's focus on industry analysis and environmental scanning for identifying business opportunities. You will learn about the economic sectors, related industries, and tools for opportunity recognition. Test your understanding of the primary, secondary, and tertiary sectors, along with GDP contributions.
