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HUMAN NEEDS AND PRODUCTION - Coggle Diagram
HUMAN NEEDS AND PRODUCTION
ECONOMIC ACTIVITY
PURPOSE
To meet human material needs through the production of goods and services.
Main economic activities:
DISTRIBUTION
transporting
CONSUMPTION
using
PRODUCTION
creation
ECONOMIC AGENTS
Main economic agents:
BUSINESSES
produce
goods
services
GOVERNMENT
produces and uses
collect taxes
HOUSEHOLDS
use
services
goods
Also supply labour when they work
In exchange, they receive a financial remuneration
FACTORS OF PRODUCTION
raw materials found in nature
RENEWABLE RESOURCES
regenerate faster than they are consumed
NON-RENEWABLE RESOURCES
regenerate more slowly than they are consumed