HUMAN NEEDS AND PRODUCTION - Coggle Diagram
HUMAN NEEDS AND PRODUCTION
The purpose of economic activity is to meet human material needs through the production of goods and services.
Main economic activities
Involves transporting goods from the producer to the consumer
is based on using the goods and services produced
creation of goods and services
Main economic agents
Employ labour to produce goods and services.
Produces and uses goods and services
How many people live in yor house
FACTORS OF PRODUCTION
The resources involved
in producing goods and services
water and wind
oil, coal and iron ore
A concept that includes both physical and intellectual labour
Amount of goods or services that an amount of money can buy.