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ECONOMIC ACTIVITY - Coggle Diagram
ECONOMIC ACTIVITY
ECONOMIC ACTIVITY
Factors of production
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three groups
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Human resources
People who, by virtue of their labour, exploit and convert natural resources into economic goods.
Capital
Is made up of the material, technical and financial (machinery, money) that are needed to obtain products and provide services.
Economic agents
Economic agents are those elements that have a role in converting the factors of production into goods and services.
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Economic goods
Products ar directly fom nature (fruit, fish...) os are turned into something ( clothes,machines...)
Services are activities make by humans.
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There are other kinds of goods which are not related to the economy, (air, the sun, the rain and the wind).
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THE PRIMARY SECTOR
has gone through big changes over the last years, it is still significant because it provides food as well as the raw materials that the industry uses and converts into other things.
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