8/3/2019 mCKOY Economics

1/15

Kenneth VillagraciaKenneth Villagracia

IVIV--WisdomWisdom

8/3/2019 mCKOY Economics

2/15

The Agriculture SectorThe Agriculture Sector

The philippines belongs to theThe philippines belongs to thedeveloping countries (Third Worddeveloping countries (Third Word

countries) which are mostlycountries) which are mostlyagricultural countries. Maybe peopleagricultural countries. Maybe peopleare asking why our cuntry isare asking why our cuntry isconsidered agricultural. Let us studyconsidered agricultural. Let us study

what agriculture is all about.what agriculture is all about.

8/3/2019 mCKOY Economics

3/15

Problems of the agriculture SectorProblems of the agriculture Sector

Farmers and fishermen in the ruralFarmers and fishermen in the ruralareas lack modern equipment andareas lack modern equipment and

appropriate technologies.They useappropriate technologies.They useold and wornold and worn--out equipment. Someout equipment. Some

farmers continue to use carabao andfarmers continue to use carabao andplow in their work, which makes itplow in their work, which makes it

slow.slow.

8/3/2019 mCKOY Economics

4/15

Agrarian ReformAgrarian Reform

We know how important farmers are inWe know how important farmers are inour economy. They are the backbone oour economy. They are the backbone othe economy.the economy.

In order to recognize the contribution ofIn order to recognize the contribution offarmers,it I necessary for the governmentfarmers,it I necessary for the governmentand al of us to give priority to the needs ofand al of us to give priority to the needs offarmers. One of these is to provide them afarmers. One of these is to provide them apiece of land. This is a ong time dream ofpiece of land. This is a ong time dream ofthe farmers.the farmers.

8/3/2019 mCKOY Economics

5/15

SynthesizerSynthesizer

Land reform is a program buy whichLand reform is a program buy whichfarmers expect improvement andfarmers expect improvement and

development not only on productiondevelopment not only on productionitself but also in their way of life.itself but also in their way of life.

8/3/2019 mCKOY Economics

6/15

Industrial sectorIndustrial sector

Many economists believe that economicMany economists believe that economicdevelopment can be achieved if thedevelopment can be achieved if theindustries are developed.industries are developed.

Industry belongs to the secondary sectorIndustry belongs to the secondary sectorwhere the activities are concerned withwhere the activities are concerned withthe processing of the primary productsthe processing of the primary productslike the manufacturing of goods from rawlike the manufacturing of goods from rawmaterials.materials.

8/3/2019 mCKOY Economics

7/15

Problems of the industrial SectorProblems of the industrial Sector

All countries in the world want toAll countries in the world want tobecome industrialized. So it isbecome industrialized. So it is

necessary for the government to looknecessary for the government to lookafter the problems that may hinderafter the problems that may hinderthe development of the industrialthe development of the industrialsectror.sectror.

8/3/2019 mCKOY Economics

8/15

Type of industries and businessType of industries and business

organizationsorganizations

Business os one of the activity thatBusiness os one of the activity thatdescribed the kinds of industriesdescribed the kinds of industries

which the country plans to build.which the country plans to build.

8/3/2019 mCKOY Economics

9/15

Labor forceLabor force

Labor is one of the important factorsLabor is one of the important factorsin the development of the economy.in the development of the economy.

It refers to the exertion ofIt refers to the exertion ofeffort,skills,and abilities of man toeffort,skills,and abilities of man toproduce goods and services. Labor isproduce goods and services. Labor isconsidered a factor of production dueconsidered a factor of production due

to its significant role in production.to its significant role in production.

8/3/2019 mCKOY Economics

10/15

The filipino workersThe filipino workers

We all know how valuable the workers areWe all know how valuable the workers arein the development of the economy.in the development of the economy.Frequently, we read a lot of storiesFrequently, we read a lot of stories

regarding the abuses and discrimination ofregarding the abuses and discrimination ofthe workers whether inside or outside ourthe workers whether inside or outside ourcountry. We can say that their workingcountry. We can say that their workingconditions are not given proper attentiom.conditions are not given proper attentiom.

In this situation, who will help and rescueIn this situation, who will help and rescuethe workers? To whom should theythe workers? To whom should theyaddress their need for assistance?address their need for assistance?

8/3/2019 mCKOY Economics

11/15

Public sectorPublic sector

The public sector is composed of nationalThe public sector is composed of nationaland local agencies of the government thatand local agencies of the government thatdirectly control the economy.directly control the economy.

It provides goals and services for free orIt provides goals and services for free orat a minimum cost. Public sector buysat a minimum cost. Public sector buysgoods and services from privategoods and services from privateindividuals and business in order toindividuals and business in order toprovide basic services to the peopleprovide basic services to the people

8/3/2019 mCKOY Economics

12/15

Role of central bank and foreignRole of central bank and foreign

banks in the economybanks in the economy

Central bank is the bank of banks. ItCentral bank is the bank of banks. Itis a central institution designed tois a central institution designed tobring about unified control of thebring about unified control of the

financial system of the country. It isfinancial system of the country. It isa public institution which operatesa public institution which operatesprimarily for service and not forprimarily for service and not forprofit. It deals only with the bankingprofit. It deals only with the bankingsystem and not directly with privatesystem and not directly with privatecustomers and does not competecustomers and does not competewith the commercial banks.with the commercial banks.

8/3/2019 mCKOY Economics

13/15

Financial institutionFinancial institution

The main function of financialThe main function of financialinstitution includes supplying andinstitution includes supplying andtransferring money in our economy.transferring money in our economy.It can be classified as either a bankIt can be classified as either a bankor a nonor a non--bank entity.bank entity.

8/3/2019 mCKOY Economics

14/15

Kinds of BanksKinds of Banks

Thrift bankThrift bank

commercial bankcommercial bank

Trust bankTrust bank

8/3/2019 mCKOY Economics

15/15

My reactionMy reaction

In this subject,I have learned a lotIn this subject,I have learned a lotabout economics, how economicsabout economics, how economicswork , the different private sectorswork , the different private sectorsthat contributed much to ourthat contributed much to oureconomy. As a student I gainedeconomy. As a student I gainedknowledge how important economicsknowledge how important economics

was and its machineries that helpswas and its machineries that helpsthe country developed.the country developed.