ECONOMIC ACTIVITY
ECONOMIC GOODS
FACTORS OF PRODUCTION
ECONOMIC AGENTS
THE ECONOMIC SECTORS
what humans to acquire goods( products and services) to satisfy consumer needs
economic activity produces
classification of the goods
products
services
obtained directly from nature
activities to benefit society
turned into something
composition
function
ownership
consumable goods
capital goods
durable
non-durable
intermediate goods
finished goods
private
public
Resources that are required for the generation of economic goods.
the three groups
natural resources
human resources
capital
renewable
partially renewable
non-renewable
resources need to obtain products and provide services
resources provided by nature
People that convert natural resources into economic goods.
Elements that have a role in converting the factors of production into goods and services.
people and families
companies
the state
private economic agents
make up small production units
generate and consume goods and services
private agents
don't consume their products
small
sell them in exchange of money
medium side
international companies
in all economic sectors
offers services
people
companies
collecting taxes from
families
people
companies
it stablishes
laws
essential services
Economic activities are grouped into three sectors: the primary sector, the secondary sector and the tertiary sector.
primary sector
secondary sector
tertiary sector
obtain resources directly from raw materials
agriculture
livestock
fishing
mining
convert raw materials into manufactured products
industry
build housing and infrastructure
lend services
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