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ECONOMIC ACTIVITY, image, image, image, image, image, image, image, image,…
ECONOMIC ACTIVITY
ECONOMIC AGENTS
What are they?
1- They convert factor of production
2- into goods and services
Types of agents
State
offers services
collect taxes from companies and people
laws
Companies
private
they don't consume
they sell
People and families
consume goods
private
DEFINITION AND ECONOMIC GOODS
What is Economic activity?
1- carried by humans
2- to acquire goods
3- to satisfy consumer needs
Economic goods
are products generated thanks to economic activity
Types of Economic goods
Function
intermediate goods
finished goods
Ownership
semi-private
public
private
Composition
consumable
non-durable
durable
capital goods
FACTORS OF PRODUCTION
What are they?
1- They are resources required
2- for generating goods
Types of resources
Natural resources
Non-renewable
Partially renewable
Renewable
Capital
made up of
Financial resources
Technical resources
Material resources
Human resources
people that exploit natural resources
to convert them into goods
SECTORS
Economic sectors
are divided in three sectors
Secondary sector
convert raw materials into products
Building houses
Tertiary sector
lending services
healtcare
education
Primary sector
obtaining resources from raw materials
fishing
livestock farming
