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ECONOMIC ACTIVITY - Coggle Diagram
ECONOMIC ACTIVITY
ECONOMIC GOODS
products and services generated by economic activity
obtained directly from nature
there're carrird out buu humsns
can be classified in 3
Composition
consumable
capital goods
Function
intermediate goods
finished goods
Ownership
private
public
FACTORS OF PRODUCTION
the resources that are required for the generation of economic goods.
three diferent groups
Natural resources
provided by nature
can be used by mankind
classified as
Partially renewable
clean air
drinking water
biodiversity
Non-renewable
fossil fuel
minerals
Renewable
wind
tides
solar energy
flowing water
Human resources.
convert natural resources into economic goods
Capital
needed to obtain products and provide services
ECONOMIC AGENTS
converting the factors of production into goods and services
Companies
do not consume the products
they shell exchange of money
vary in szise
small size
mediun sized
The State
offers services to people and companies
oversees essential services
defence
education
administration
healthcare
road infrastructure
unemployment
benefits
retirement pensions.
financed by collecting taxes
establishes the laws
People and families
private economic agents make smal production unions
generate and consume goods and services
THE ECONOMIC SECTORS
grouped into three sectors
Secondary sector
converting raw materialsinto manufactured products or building housing and infrastructure
variety of energy sources
Tertiary sector
lending services
education
healthcare
trade
tourism
transport
Primary sector
obtaining resources directly from raw materials
fishing
forestry
livestock
mining
agriculture