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ECONOMIC ACTIVITY - Coggle Diagram
ECONOMIC ACTIVITY
Economic Goods
Products and services
By economic activity
Products
Goods which are obtained directly from nature
Fish
Goods turned into something
Books
Services
Activities carried out by humans
Benefit society
Education
Economic goods
Function
Intermediate goods
Wool produced by a sheep
Finished goods
Shirt made from this wool
Ownership
Semi-private
Families and State
Public
State
Private
People, families or businesses
Composition
Non-durable
Pizza
Capital goods
Equipment
Consumable
Computers
Other kinds of goods
Not related to the economy
Air, sun, the rain..
Necessary to live
Economic Agents
Converting the factors of production into goods and services
Companies
Private
Not consume the products or services that they generate
They sell them for profit and in exchange for money
Companies vary in size
Multinational companies
Small and medium-sized companies
People and families
Private economic
Small production
Generating and consuming goods and services
The State
Offers services to people and companies
Financed by collecting taxes
Establishes the laws
Oversees essential services
Healthcare, Road infrastructure...
The Economic Sectors
Secondary sector
Converting raw materials into manufactured products
Reservoirs
Variety of energy sources
Tertiary sector
Lending services
Tourism
Primary sector
Resources directly from raw materials
Livestock
The oldest economic activities
The Factors Of Production
Resources
Required for the generation of economic goods
Factors of production
Human resources
Exploit and convert natural resources into economic goods
Capital
Material, technical and financial resources
Obtain products and provide services
Natural resources
Provided by nature
Partially renewable
Drinking water
Non-renewable
Minerals
Renewable
Solar energy
Carried out by humans
To acquire goods
Satisfy consumer needs.
