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1.HUMAN NEEDS AND PRODUCTION - Coggle Diagram
1.HUMAN NEEDS AND PRODUCTION
HUMAN NEEDS AND PRODUCTION
Economic activity
for what is this?
is human material need the through production
services
goods
This are the main economic activities:
Distribution:
transport goods from producer to consumer
for example
transportation of food from farms to shops
Consumption:
use -goods and services products
for example
when a household consumes food.
Production:
create goods and services
for example
food producer by farmes
Need in Economics:
What it do?
It covers everything from primary needs
primary needs
housing
secondary needs
mobile phone
Meeting a need usually involves
for what did they do this?
to create a new need.
for example:
buying a car creates
1.-ECONOMIC AGENTS:
This are the main economic agents:
Businnes:
what do they do?
they employ labour to porduce
goods
services
when did they received money?
when the other two agents spend it
Household:
they meet their needs
using the goods and services
this they get thanks of the goeverments and the bussines
but also the household supply Labor
to thank the help (receive a financial remuneration)
The goverment:
they produce and use goods
it also produce services
The government collects taxes from households
to pay the businnes
3.-Factors of Production:
are resources of generation economic
this are the things that they generated:
capital
labour
natural rescources
Natural Resources:
are row materials founded in the nature
used:
consumationg products
manufacturing products
different types of generation
1.-Renewable resources
2.-Non-renewable resources
CAPITAL
are elements involved in porduction proccess:
Physical capital:
facilities
tools and machinery
raw materials
Finacial capital:
the money that paid
human capital
physical capital
Human Capital:
labour that workers contributed
Labour:
The salary
is the payment
receive for their labour
determines
the amonts of goods
