1. How economic activity works
1.1. What is economic activity
1.1.1. Economic activity describes all the jobs done by workers in order to satisfy the needs
1.1.2. Production, distribution and consumption
1.1.2.1. Production
1.1.2.1.1. Consumer goods
1.1.2.1.2. Intermediate goods
2. Economic sectors
2.1. Primary sector
2.1.1. Activities:It consists of agriculture,livestock farming,fishing and forestry
2.1.2. Definition:This sector includes activities that produce food for consumption and raw materials for insustry
2.2. Secondary sector
2.2.1. Definition:This sector includes all económic activities that transform raw materials found in nature though industrial processes into manufactured products
2.2.2. Activities: Insustry, construction, and the exploitation of energy sources, such as water, oil and gas
2.3. Tertiary sector
2.3.1. Activities: healthcare, education, transport, tourism, trade and culture
2.3.2. Definition: The tertiary sector is the fastest-growing sector due to the appearance and expansion of an informantion society.
2.4. Quaternary sector
2.4.1. Activities: Creation, distribution and manipulation of information and also social, cultural and economic innovation and research
2.4.2. Definition: This is a new economic sector based on expertise.
3. Factors affecting production
3.1. Natural resourses and raw materials
3.1.1. Definition: Nature gives us many elements that we transform to satisfy the needs of human society. The elements that the nature give to the human are call natural resourses
3.2. Labour
3.2.1. Definition: Labour is all human activity, that is required to produce goods or provide services that are necessary for people and society
3.3. Capital
3.3.1. Physical capital
3.3.1.1. This includes the land on which the business is built, the construction and maintenance of the premises
3.3.2. Financial capital
3.3.2.1. This is the money needed to begin production. This includes loans from banks or other institutions
3.4. Technology and expertise
3.4.1. in the technology and expertise are three types of production according to the technology they use
3.4.1.1. MANUAL productio
3.4.1.2. MECHANICAL production
3.4.1.3. HIGH-TECH production