Invention by experience

Classified in Geography

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what makes production possible?

Natural resources
capital(resources which are used
 to produce goods and services)
Phisical capital. (tangible assets 
buildings, machinery, computers...)
Human capital. Is a worker´s 
knowledge, experience and 
training a business activity.
Financial capital. Consists 
of the money used to start
 or maintain a business activity.
ECONOMIC SYSTEM
reflects how a country organizes
 production, distribution and 
consumption of goods and 
services among its inhabitants
there are subsistence sys.
communist system
capitalist system.
is the economic sysem most 
often found in the world today.
 its main characteristics are:
-private ownership of the means
 of production
-profit is the primary stimuls for 
economic activities
free competition- any person or
 company can carry out any 
economic activity they want.
supply and demaind regulates
 how many products are produced
 and their price

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