Please enable JavaScript.

Coggle requires JavaScript to display documents.

ECONOMIC ACTIVITY - Coggle Diagram

- - - - Nomadic people
      - way of life based on hunting and fishing
    - - Herarchical system based on age and sex
      - Nomadic livestock farming
    - - Series of comunities
      - Men hunt and women farm
    - - Live in jungles of Borneo
      - They are hunter-gatherers
  - - - a socioeconomic system
      - Invesment of capital
        
        in order to maximise potential profits
      - Free Market
        
        regulates the production and sale of products and services based on the prices established by supply and demand
      - private ownership
        
        Means of production
      - Demand
        
        The products or services that consumers want to buy for a specific price and under certain conditions
      - Supply
        
        The products avaiable on the market for a specific price
      - Prices decrease
        
        If the supply is high but the demand is low, it creates a surplus
      - Price
        
        the value assigned to a product or service
      - Prices Increase
      - Competition
        
        producing a product in the lowest possible cost
        
        Pay the lowest possible price
  - - - ICELAN, SWEDEN, FRANCE, UNITED KINGDOM, UNITED STATES and RUSSIA
    - - Invest in public goods and services, social security benefits and other kinds of support
- - - - Creation of goods and services
    - - transport goods from the producer to the consumer
    - - using goods and services produced
  - - - meet their needs by using the goods and services offered by businesses and the goverment
    - - employ labour to produce goods and services
    - - produced and uses goods and services
        
        healthcare
      - produced goods and services in benefit to general public
        
        schools
      - collect taxes from households and businesses to pay services
  - - - the resources involved in producing goods and services
    - - ROW MATERIALS FOUND IN NATURE
      - Renewable resources
        
        can be consumed without being exhauted
      - Non-renewable resources
        
        regenerate more slowly than they are consumed
    - - What is?
        
        different elements invlolved in the producion process
      - Human capital
        
        labour that workers contribute
      - Physical capital
        
        raw material, facilities, tools and machinery
      - Financial capital
        
        money needed to pay for physical capital and human capital
    - - What is?
        
        a concept that includes both physical and intellectual labour
      - Role of labour
        
        to produce goods or provide salary to recieve financial compensation
      - Wage or Salary
        
        payment which employees recieves for their labour ( and determinates the amount of goods they can purchase
- - - - Manufacture raw materials and produce capital goods
      - Energy production
        
        Extract energy from natural resources
      - Construction
        
        Construction of buildings and infrastructures
      - Industrial activities
        
        manufacture raw materials into goods
      - Mining
        
        Consists of removing rock and minerals form de subsoil
    - - Transport and comunications
        
        movement of people and goods, and to communicating information
      - Tourism
        
        temporary movement of people from one place to another
      - Commerce
        
        distributing and selling the products from the primary and secondary sectors
      - Services
        
        essential services, such as healthcare and education, to advertising and legal services
      - All the activities that produce intangible goods and services
      - Banks and financial services
        
        services related to saving and moving money
    - - Activities related to obtaining natural resources used in production of food
      - Livestock farming
        
        Raising animals for food and raw materials
      - Forestry
        
        Harvesting the wood from trees
      - Agriculture
        
        Farm de land
        
        Produce raw materials
      - Fishing
        
        Catching or farming fish, molluscs and crustaceans