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Economic Activity
Economic activity
Economic activity, it's carried out by humans in order to acquire goods (products and services)
Factors of production
The factors of production are the resources that are required for the generation of economic goods.
Human resources.people who, by virtue of their labour, convert natural resources into economic goods.
Capital. This is made up of the material, technical and financial resources , that are needed to obtain products and provide services
These are the resources that are provided by nature and which can be used by mankind
Renewable: solar energy, wind, tides, flowing water.
Partially renewable: clean air, drinking water, fertile soil, plants and animals (biodiversity).
Non-renewable: fossil fuel, minerals.
economic agents
Economic agents are the elements that have a role in converting the factors of production into goods and services.
Companies. These are also private but do not consume the products or services that they generate.
The State. It offers services to people and companies, and is financed by collecting taxes from people
People and families. They are private economic agents that make up small production units
Economic goods
Economic goods are products and services generated by economic activity.
Products are goods which are obtained directly from nature
Function
they can be intermediate goods or finished goods
Ownership
they can be private (belonging to pepole ...)
Composition
they can be consumable
there are also other goods wich are not part of economy and belong to all humans (air ,sun ...)
Services are activities carried out by humans to benefit society
The economic sectors
Economic activities are grouped into three sectors: the primary sector, the secondary sector and the tertiary sector.
Secondary sector: activities involved in converting raw materials into manufactured products
Tertiary sector: including lending services
Primary sector: activities involved in obtaining resources directly from raw materials
