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Economic systems - Coggle Diagram
Economic systems
Factors of production
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3 groups:
Human resources
These are the people who, by virtue of their labour, exploit
And convert natural resources into economic goods
Natural resources
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3 types
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Non-renewable
Examples: fossil fuel, minerals...
Partially renewable
Examples: Clean air, drinking water, fertile soil
Capital
This is made up of the material, technical and financial resources
That are needed to obtain products and provide services
Economic agents
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3 types
Companies
They are private, but the don't consume the products or services that they generate
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Economic sectors
3 types
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Tertiary sector
Including lending services
Examples: Education, healthcare, trade...
Primary sector
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Examples: Livestock, agricultura, mining...
Activities involved in obtaining resources directly from raw materials