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Point 2- The economy and geography - Coggle Diagram
Point 2- The economy and geography
Stages, sector and economic agents
For understand the elements involved in a country's economic activity, we need to analyse three aspects
Stages of economic activity
Production
Creating a product
Providing a service
Located close to resources
Energy sourcers
Capital
Natural resources
Workers
Distribution
Delivering products and services to
Consumers
Customers
Requires access to good transport and telecommunications infraestructure
Consumption
Adquiring products and services in exchange for money
Located in areas where the population has a certain amount os purchasing power
Sectors of the economy
Primary sector
These are economic activities that directly involve the use of natural resources such as:
Livestock farming
Fishing
Agriculture
Forestry
Mining
Secondary sector
These are industrial and construction activities
The manufacture goods
Finished goods
Supplied directly to the consumer
Intermediate goods
Used by other industries
Tertiary sector
Economic activities related to services
Workers in this sector supply other peoples people with
Knowledge
Skills
Hotels and restaurants
Banking
Education
Healthcare
etc.