Economy def and sectors Flashcards
1
Q
Definition of economy
A
Activities related to production, distribution, trading and consumption of goods and services
2
Q
Goods definition
A
Tangible materials that people consume to satisfy their needs.
3
Q
Services definition
A
Intangible products such as banking, cleaning or public services
4
Q
GDP definition
A
Is the total value of al, the services and goods produced by a country
5
Q
GDP per capita definition
A
Total value off all the goods and services produced by a country in a particular yera, divided by the number of inhabitants
6
Q
What economic sectors are?
A
Primary sector: nature
Seconday sector: manufacturing
Terciary sector: services
