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Key Words-Economic Activity - Coggle Diagram
Key Words-Economic Activity
Economic Activity
Carried out bi humans
Acquire goods
Economic Goods
Definitions
Products
Activities obtained directly from nature
Fruit,fish...
Economic goods
Products and services
Generated by economic activity
Services
carried out by humans
Finance, education, transportation, healthcare
Classified by
Compositio
Consumable or capital goods
Function
Intermediate goods or finished goods
Ownership
Private or public
Goods that are not related to the economi
Air, sun, rain and wind
Factors of production
Definitions
Factors of production
Resources required for the generation of economic goods
Three groups
Natural resources
Provided by nature
Renewable
Solar energy, wind, tides, flowing water
Partially renewable
Clean air, drinking water, fertile soil plants and animals
Non-renewable
Fossil fuel, minerals
Humans resources
Exploit and convert natural resources into economic goods
Capital
Made up of the material, technical, and financial resources that are needed to obtain products and provide services
Economic agents
People and families
Private economic agents
Make up small production
Generating and consuming goods and services
Companies
They not consume the products or services that they generate
Companies are found in all economic sectors
The state
It establishes the laws that society must follow
The economic sectors
Three sectors
Primary sector
Obtaining resources directly from raw materials
These are the oldest economic activities
Fishing, forest and mining, livestock
Secondary sector
Converting raw materials into manufactured products
Tertialy sector
Including lending services