Economic activity

Economic activity

1. Human needs and production

   • economic activities
     • Consumption
     • Distribution
     • Production
   • factors of production
     • Natural resources
       • Non-renewable resources
       • Renewable Resources
       • produce goods, services, energy
     • capital
       • Financial
       • Human
       • Physical
     • labour
       • physical
         • salary / wages
       • intellectual

2. Economic systems

   • traditional based systems
     • Preserve the community
     • Old customs
     • Benefit community
     • Resources of the region and importance of the market
     • subsistence
     • self-compsumption
   • capitalism and free market
     • Factors of capitalism
       • Private owership
       • Investment of capital
       • Free market
     • free market
       • Demand
       • Supply
       • Price
     • prices decrease
       • supply > demand
     • prices increase
       • supply < demand
     • Unequal distribution of wealth
   • Authority: the central planning system
     • The State
       • forecasts
       • economic goals
       • Need
     • reduce injustice
     • lack of efficiency
   • mixed systems
     • actual
     • prevent Unequal distribution of wealth and lack of efficiency
     • welfare state
       • public goods and services
       • Social security
       • Other kinds of support
     • free market and state

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