Service

• The Service Sector is the dimension of the economy that produces services
• Services are nonmaterial commodities such as Health, Insurance, Education, Security
• The activities in the service sector are, Trade and commerce, Transportation, communication, and storage, Finance, Ownership of dwellings and real estate, Government Services
• Trade and commerce is the selling of goods
• The 2 major models of Trading are: Wholesale, and Retail
• The National Statistic Coordination Board (NSCB) defines wholesale trade as an intermediate step in the distribution of merchandise
• An establishment is considered a wholesaler if: Its major on regular clients are business, institutions, and resellers
• Retail trade is the final step in the distribution of merchandise where its main activity is selling new/used goods w/o transformation on a regular basis direct to the general public
• An establishment is considered retailer if: its major and regular clients are the general public, including household . And if its major source of sales is derived from the same things (answer)
• Transportation and communication facilitate the flow of trade and commerce
• storage provides custodial services to traders. it operates warehouse and other facilities that keep merchandising goods in safe and good condition
• In 2011, there were 7.1 million registered motor vehicles throughout the country
• The registered motors for Private is 6.1 million. For hire: 971 thousand . Government: 67.3 thousand. Diplomatic: 3.6 thousand. Exempt: 652 thousand
• The total numbers of airports in 2011 was 84, which 10 are international and 74 are domestic.
• The Major domestic commercial airlines in the country are Philippine Airlines, Cebu pacific, Pal Express, Zest Air
• As of 2011, there were 6.75 million telephone lines installed all over the country.
• in 1996, there were only 24 internet service providers in the country and about 100 thousand subscribers
• In 2011, the national telecommunications commission reported a total of 320 internet service providers and 5.2 million subscribers
• Intermediation is the main function of the Financial Sector.
• Banks and other financial institutions are the main source of investment funds in the finance sector
• Finance has provided jobs to 368,000 of the country's labor force
• Lands, commercial buildings, residential houses and apartments for rent belong to the real estate industry.
• The government's main responsibility is to deliver social, economic and general public services to the people.
• social services includes education, culture, manpower development , health, social security, welfare and employment
• Economic services includes agriculture and agrarian reform, natural resources and development, trade and industry, tourism, power and industry