Philippine Agricultural Policy and Global Trade Systems

A set of vocabulary flashcards covering agricultural policy, international trade, and Philippine agrarian legislation based on the lecture notes.

The Agricultural Sector

The primary economic sector involved in farming and fishing activities.

The Industrial Sector

The secondary economic sector focused on manufacturing, construction, and creating finished products.

The Service Sector

The economic sector providing non-tangible services such as banking, medicine, and government administration.

Economic Efficiency

The optimal allocation of resources to maximize economic prosperity, typically driven by market mechanisms.

Equity

The characteristic of an economy concerning the fair distribution of opportunities, wealth, and income.

Bilateral aid (Direct assistance)

Direct financial or technical support provided by one government to another through agencies such as USAID or JICA.

Multilateral aid (Share global funding)

Assistance channeled through international organizations like the World Bank or IMF rather than directly between countries.

Solid Waste Management Act / Ecological Solid Waste Management Act of 2000 (RA 9003)

A law ensuring the systematic collection, recycling, and disposal of solid waste.

Philippine Clean Air Act of 1999 (RA 8749)

Legislation aimed at protecting and enhancing the