Economic activity

Economic activity is what is carried out by humans in order to acquire goods that satisfy consumer needs.

Economic goods

Factors of production

Economic sectors

Economic agents

Economic goods are products and services generated by economic activity.

Products are goods which are obtained directly from nature or turned into something.

There is a kind of goods that aren't related to economy and belong to all (rain...)

Services are activities carried out by humans to benefit society

Classified by

Function

Composition

Ownership

Private

Public

Intermediate

Finished

Capital

Consumable

The factors of production are the resources that are required for the generation of economic goods.

3 groups

Capital. Needed to abtain products.

Human. People who convert natural resources.

Natural. Renewable, partially renewable or non-renewable.

People and families. Private agents that make up small production units.

Companies. Private or semiprivate. They don't consume tehir goods, theu sell them. Small, medium or multinational.

Economic agents are those elements that have a role in converting the factors of production into goods and services.

State. Offers people or campines services, finaced by taxes. Stablishes the laws and oversees essential services.

Secondary

Primary

Tertiary

Obtaining resources from nature

Converting raw materials into manufactured products

Services