Capital individualistic

Classified in Economy

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WHAT IS ECONOMIC ACTIVITY:economic activity describes all the jobs done by workers in order to satisfy the needs and societies by providing goods or services.

PRODUCTION:the company decides on the product to be produced the amount and the manufacturing process.The production of goods combines the use of natural resources ,skills and labour.There are two types of goods:-consumer goods satisfy the desires or needs of the consumer.-intermediate goods are used to manufacture consumer goods .The provision of services healthcare and public transport.
DISTRIBUTION:distribution consist of the delivery of the goods or  services to the consumer.This involves the storage transport  marketing and sale of goods,two steps in the sales process:-wholesale,wholesalers buy a large number of products and sell them to companies  who them sell the goods to individual consumers.-retaiol,retail businesses buy a small number of goods from  wholesalers and sell them directly to the public in shops.
NATURAL RESOURCES AND RAW MATERIALS:elements that we transform to satisfy the needs of human society.These resources are limited and could run out soon we need to make sure we do not overexploit themn.
LABOUR:labour is all human activity whether physical or intellectual,that is required to produce goodss or provide services that are necessary for people and society
CAPITAL:capital includes all of the resources used to produce goods services.There are two types of capital:-physical capital,this incluides the land on the constrction and maintenance and the machinery and raw materials.-financial capital,this moiney needed to begin production,this includes loads from banks or other institutions.
TECHNOLOGY AND EXPERTISE:technical expertise makes possible the design construction and use of machines and devices for the production of goods and services.Three types of production according to the technology they use:manual production,mechanical production and high tech production.

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