geo T3 Flashcards
(32 cards)
what is the economic activity
is an exchange between two parties: the one that satisfies the need and the other thtat makes the purchase ( pers q ho compra)
objective of economy
The main pirpose of the economy is to satisfy peoples material needs in the form of goods and services
producers and costumers
Producers: people involves in crating foods and services. In exchange they earn a profit.
Costumers: People who adquire goods and services through the payment of money
what is suministres
the amount of goods and services that is avaible
what is demand?
the quantity of a good or service that consumers wish to adquire
3 Economy elements
the production of goods: human labour, natural respirces and tevnology
distribution: provide the profuct do it is available fot the costimers
consumptions: the exchange pf the good for money
Are we reponsable consumers?
Primary needs: neccessity to survive
Secondary newds: not necessary for human surviving improve peoples wellbeing
Hom many sectors are there?
there are 3 main sectors
primary: extract raw materials
secondary: transform raw mater into goods
tertiary: provide the product and satisfy peoples needs
due to the new spesialised services there appearwd a quarternary sector: include activ involving scientific and tecno knowledge
Which are the production factors?
- natural resoirces: natural elementa extracted from nature
1) raw mat: producing goods
2) energy sources: produce power for the distrib of goods - capital: both phisical capital (in the form of durable goods that the economic activities requires) and financial capital
Labour: contrib of people to the production process
- Tecn and knowledge: scientific and tecnological development make production effective
What are econom agents
play a key role in prod and sistrib and make imp desitions for the prod system
types of economic agents
people: work in exchange for wages
companies: produce and distribute goods and in echabge thei earn a profit
state: public sector funded qith citizens and companies taxes
economic system
is the set of rules and costumes, today the presominant form oragisation is capitalism - a free market and mixed economy
The capital system
appeared during the Industrial Revolution
caract of the capital system
prices are regulated through supply and demand: qhen the demand exeeds the supply prises tend to increase and when the supply exeed the demand the prises tend to drop
free iniciative to create camapings: to ensore that the production process, the trade and the consumption funcion well
enconomic agents are free to cooperate: campaings put their effort for maximise profits and the ppl effort fot satisfy their needs
- free competition: pushes companies to produsse more for less and sell more for getting profits
- overproduction crises: when the supply grownsbfaster than the demabd
globalisation
the globalisation is a process characterised by interconnection of country economy fast trade and desition-making
since 20 th has transformed economy society and terr
the globalisation of the economy has been causes by…
the increasing power of multinational companies, increased production, transport, telecomunications and trade
Which are the caract of the proces of glob:
1) the increasing independence of countries economies
2) streghening of multinationl campanies which produces and sell goods and services
3) the globalisation of financial markets: money circulate quickli between diferent countries facilitatimg trade
4) increased international migration: due to globalised transport and telecomunictions system
Which are the three sidea of globalisation?
economic glob
politic globalisation
cultural glob
SOCIAL AND CILTURAL CONSEQUENCES OF globalisation
due to the bigest contact with people aroud the world
- lifestyle become more uniform
- more and more people in all the five continents drees the same ests the same listen the same music….
- migration and tourismbhave also increased and this causes the multicultural society
Which new global traits introduces?
terrorism produces by violents groups that reject the political and social order
Ehat drives globalisation?
is the result of renoval international trade and dev in trans and telecomm
What is trade liberasion?
the elimination of varries imposer on products
consequences of trade liberation?
it makes easier for countries to trade
What is a financial services?
are financial services that include all the activities relationated with managment of money and coverage fot goods and people
