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human needs and production - Coggle Diagram
human needs and production
economic activity
3 grouphs
distribution
transporting
goods from producer - to consumer
consumption
based on using the products
production
based on creating
goods
services
economic agents
main economic agents
businesses
employ labour to produce goods and services
to meet the needs
of households and the government
recived money
when other two agents spend it
the goverment
produce and use
goods and services
(for public hospitals, schools...)
collect taxes
from households and businesses
to pay services
households
meet their needs using goods
offered by businesses and the government
supply labour when they work for them
in exchange
receive a financial remuneration
they spend to meet their needs
factors of produccion
3 resorces
natural resorces
materials found in nature
2 different ways
renewable resorces
consumed without being exhausted
regenerate faster than they are consumed
types
almost limitless
water and wind
the ones they need a period of time
flora and fauna
1 more item...
non-renewable resorces
regenerate more slowly than they are consumed
capacity to renew themselves is low
capital
human capital
the labour that workers contribute
phisical capital
raw materials, facilities, tools and machinery
financial capital
the money needed to pay for physical capital and human capital
labour
included phicical and intelectual labour
the role of labour
produce goods
provide services to receive financial compensation
salary
money
employees receive for their labour
