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economics, what is it? - Coggle Diagram

- - - - goods are anything that anyone wants or needs they are tangible
      - services are provided by other people. they are intangible
      - producers are people who make and develop the products
      - consumers are people who buy the products from the service
      - needs are things we need to survive
      - wants are things that we desire to have but not need to survive
- - - - When Australia imports and exports is called the composition of trade. nearly 78% of our exported goods in 2013-14 were in primary products. these are products that are produced from raw materials and are not manufactured. nearly 16% of our exported goods in 2013-14 were manufactured goods.
- - - - is a company that operates in more than one country transnational corporations don't consider their home to be any particular country as they are a worldwide business.
      - they brings many benefits to the country they operate in. they provide employment opportunities and, because their size, may be all to buy a falling Australian business and imported its business prospects.
      - the impact of global events on the supply chain
        
        natural disasters such as tsunamis and earthquakes can have an impact on supply chains
        
        political unrest in and between countries can also affect the flow of trade and therefore our supply chains.
        
        disruption to the importing of oil in austalia is another factor that could disrupt Australia's supply chains, affecting our production and transport system.
- - - - if you are a party to a scam you should report it tot the appropriate authority
      - golden rules: be suspicious, be cautious, be patient, be alert, be wise
      - be suspicious: even in a trusting area be aware of what others may do to you
      - be cautious: don't I've strangers your personal details
      - be patient: always make a second opinion on what is being offered
      - be alert: check your accounts for any unexplained transactions
      - be wise: understand that there's a rare chance of you getting rich quickly
- - - - how is it produced?
      - what is produced?
      - who is it produced for?
      - different types of economies
        
        traditional or substance economy: in a traditional or subsistence economy, provers are self-sufficient, producing enough to survive, rather than aiming to make profit
        
        market capitalist economy: producers exchange goods and services with consumers in return for money. the exchange takes place in a market, the majority of the productive resources are own by individuals and firms.
        
        planned capitalist economy: government determines
        
        market socialist economy: the three economic questions were answered the same way as the market capitalist system, but productive resources in this type of economy are mostly owned by the government.
        
        planned socialist economy: it is the government that answers all the economic questions. production takes pace in lie with the governments and short term plans.