38871989
Description
Mind Map by Alejandro Rueda, updated more than 1 year ago
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Created by Alejandro Rueda
about 3 years ago
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Economy
- What are the sector of the
economy?
- The primary sector: is one in which natural resource exploitation and harvesting
are involved. Agriculture, forestry, fishing, mining, and oil and gas exploitation are
some of the sectors it covers. The raw materials used in the production processes
of other sectors are supplied by the primary sector.
- Secondary Sector: The processing and manufacture of raw materials obtained from the
Primary Sector is the responsibility of the Secondary Sector. This sector includes the
manufacturing, building, and energy producing industries. Activities in the secondary
sector produce tangible items and add value to the raw materials.
- The tertiary sector, also referred to as the service sector, is dedicated to provide services to both
consumers and companies. Retail, healthcare, education, banking, travel, and numerous professional
services are just a few of the sectors that it covers. In industrialized economies, the tertiary sector is
frequently the biggest and most important.
- The tertiary sector, also referred to as the service sector, is dedicated to provide services to both
consumers and companies. Retail, healthcare, education, banking, travel, and numerous professional
services are just a few of the sectors that it covers. In industrialized economies, the tertiary sector is
frequently the biggest and most important.
- Secondary Sector: The processing and manufacture of raw materials obtained from the
Primary Sector is the responsibility of the Secondary Sector. This sector includes the
manufacturing, building, and energy producing industries. Activities in the secondary
sector produce tangible items and add value to the raw materials.
- The primary sector: is one in which natural resource exploitation and harvesting
are involved. Agriculture, forestry, fishing, mining, and oil and gas exploitation are
some of the sectors it covers. The raw materials used in the production processes
of other sectors are supplied by the primary sector.
- What are the Factors of
production?
- Land: All natural resources needed in the production process are included in
this element. In addition to the earth's surface, it also includes the minerals,
water, forests, and other resources that are used to make commodities and
provide services.
- Labor: The human effort and skill used in the producing
process. From unskilled laborers to highly skilled professionals,
it involves both physical and mental labour that is contributed
by employees.
- Capital: Tools, machinery, equipment, and infrastructure used in
manufacturing. In order to help manufacture new goods and
services, previously produced goods are employed as a means of
production.
- Entrepreneurship: The ability of people to innovate, take calculated
risks, and manage their business effectively is referred to as
entrepreneurial ability. Entrepreneurs are essential for spotting
business opportunities, gathering resources, and accelerating the
manufacturing process.
- Entrepreneurship: The ability of people to innovate, take calculated
risks, and manage their business effectively is referred to as
entrepreneurial ability. Entrepreneurs are essential for spotting
business opportunities, gathering resources, and accelerating the
manufacturing process.
- Capital: Tools, machinery, equipment, and infrastructure used in
manufacturing. In order to help manufacture new goods and
services, previously produced goods are employed as a means of
production.
- Labor: The human effort and skill used in the producing
process. From unskilled laborers to highly skilled professionals,
it involves both physical and mental labour that is contributed
by employees.
- Land: All natural resources needed in the production process are included in
this element. In addition to the earth's surface, it also includes the minerals,
water, forests, and other resources that are used to make commodities and
provide services.
- What are Goods?
- I understand that goods refers to material
objects that consumers can purchase, such
as apparel, food, and technology.
- Goods can be classified according to various criteria, according to their degree
of scarcity, their functionality, the degree of the degree of transformation, the
ease of access to them, the type of needs they serve, and the distinction that
can be made according to the behavior of demand for the the distinction that
can be made according to the behavior of the demand for goods in the face of
variations in the level of income. variations in the level of income
- According to its degree of
scarcity
- -free goods
-economic goods
- Free goods, such as the air we breathe, are freely available to
people, but pollution makes them scarce. On the other hand,
economic goods, such as food or fuel, are scarce and require
payment in the market.
- Free goods, such as the air we breathe, are freely available to
people, but pollution makes them scarce. On the other hand,
economic goods, such as food or fuel, are scarce and require
payment in the market.
- -free goods
-economic goods
- According to its
functionality
- -consumer goods
-investment goods
-environmental goods
- Consumer goods are goods that satisfy the direct
needs of individuals. They are divided into
non-durable goods (such as perishable food) and
durable goods (such as furniture).
- Investment goods, also known as capital goods, are used in the production
process to produce additional products. Steel and plastic used in the
manufacture of automobiles are examples.
- Environmental goods protect the fundamental cycles of ecosystems.
- Environmental goods protect the fundamental cycles of ecosystems.
- Investment goods, also known as capital goods, are used in the production
process to produce additional products. Steel and plastic used in the
manufacture of automobiles are examples.
- Consumer goods are goods that satisfy the direct
needs of individuals. They are divided into
non-durable goods (such as perishable food) and
durable goods (such as furniture).
- -consumer goods
-investment goods
-environmental goods
- According to the degree of
transformation
- -final goods
-intermediate goods
- -Substitute goods that satisfy the same needs, such
as sugar and honey or margarine and butter.
-Complementary goods: Goods that are needed
together to satisfy a particular need, such as the ink
cartridge and the laser printer.
- -Substitute goods that satisfy the same needs, such
as sugar and honey or margarine and butter.
-Complementary goods: Goods that are needed
together to satisfy a particular need, such as the ink
cartridge and the laser printer.
- -final goods
-intermediate goods
- According to ease of access
- -Public goods
-Private goods
- -Private goods: they are owned by a person or entity, such as houses
or hotels, and can only be accessed if they pay to use them.
- -Public goods can be used by all of society without distinction and without the
use of one having an impact on others (non-rivalry principle). Roads, fire
equipment and public parks are examples.
- -Public goods can be used by all of society without distinction and without the
use of one having an impact on others (non-rivalry principle). Roads, fire
equipment and public parks are examples.
- -Private goods: they are owned by a person or entity, such as houses
or hotels, and can only be accessed if they pay to use them.
- -Public goods
-Private goods
- According to the type of needs they serve
- -Consumer staples
-Luxury consumer goods
- -Staple goods, also known as basic consumer goods, are those that
satisfy essential needs and are mainly sought by people with lower
incomes.
- -Luxury goods or sumptuary consumption: refers to goods and
pleasures related to luxury and are aimed at people with higher
incomes.
- -Luxury goods or sumptuary consumption: refers to goods and
pleasures related to luxury and are aimed at people with higher
incomes.
- -Staple goods, also known as basic consumer goods, are those that
satisfy essential needs and are mainly sought by people with lower
incomes.
- -Consumer staples
-Luxury consumer goods
- According to the behavior of demand in the
face of income variations
- -Goods in normal demand
-Inferior goods
- -Lower goods: Those whose demand decreases as family
income increases, such as bread, potatoes or used clothes.
- -Superior goods: Those whose demand increases to a greater extent than
the increase in family income, such as beef, fresh hake or new clothes.
- -Superior goods: Those whose demand increases to a greater extent than
the increase in family income, such as beef, fresh hake or new clothes.
- -Lower goods: Those whose demand decreases as family
income increases, such as bread, potatoes or used clothes.
- -Goods in normal demand
-Inferior goods
- According to its degree of
scarcity
- I understand that goods refers to material
objects that consumers can purchase, such
as apparel, food, and technology.
- What are services?
- services relate to immaterial products and services like
consultancy, training, or healthcare. Both products and
services are crucial components of the economy and are used
by both people and companies.
- Production support
services (business
services)
- Technological advice. Consulting to companies.
- Legal, fiscal and financial advice to companies.
Insurance to companies.
- Management and business training.
- Marketing and export promotion services.
- Technological advice. Consulting to companies.
- Distribution and
financial services
- Wholesale and retail trade. Franchising.
- Transportation and communications.
Telecommunications and information
technology.
- Banking and financial services. Stock exchange
and stock market.
- Wholesale and retail trade. Franchising.
- Social Services
- Education. Sanitation.
Health, Hygiene
- Social Security (unemployment,
pensions, day care, senior citizens,
etc.).
- Services for the promotion of
gender equality.
- Education. Sanitation.
Health, Hygiene
- Personal services
- Tourism. hotels, bars and restaurants
- Culture. sports and shows. Cultural heritage
- Media. Press. Radio. TV. Cinema. Life
insurance, accident insurance, home
insurance, etc.
- Tourism. hotels, bars and restaurants
- Ecosystem services
- Protection and conservation
of Natural Heritage.
- Promotion of renewable
energies. Energy efficiency.
- Waste management.
- Environmental education services. Saving in
the consumption of drinking water.
- Protection and conservation
of Natural Heritage.
- Administration
- Public Administration
- Political representation and public
policy implementation
- Security and defense services
- Administration of justice
- Public Administration
- services relate to immaterial products and services like
consultancy, training, or healthcare. Both products and
services are crucial components of the economy and are used
by both people and companies.
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