To satisfy the needs of people Producers Consumers Goods and services.
The agents who MAKE good and services are: GDP Producers Consumers.
The people who BUY goods and services are: Producers Consumers Supply.
Amount of goods and services that producers MAKE FOR SALE Supply Demand GDP.
Amount of goods and services that consumers WANT TO BUY at a certain price GDP Producers Demand.
GDP (gross domestic product) Is the monetary value of all the goods and services in a year in a territory Agents try to make a profit.
Stages of economic activities are : Production, distribution, Consumption primary, secondary tertiary sector.
Activities to make goods and services Production Distribution Consumption.
Activity to get the goods and services to the consumer Production Distribution Consumption.
Acquiring goods and services: Production Distribution Consumption.
Transport and commerce are: Production Distribution.
Obtain raw materials directly from nature Primary sector Secondary sector.
Transform raw materials into manufactured products Primary sector Secondary sector Tertiary sector.
Also called the service sector Secondary sector Tertiary sector.
Crop farming, Livestock farming, fishing and forestry are activities from: Primary sector Secondary sector Tertiary sector.
Industry, mining, energy and construction are activities from: Primary sector Secondary sector Tertiary sector.
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