Economic Activities, Systems, Agriculture, and Landscapes
Classified in Geography
Written on in English with a size of 3.98 KB
Economic Activities and Goods
- Economic Activities: These are activities carried out by humans in order to acquire goods that satisfy consumer needs.
- Economic Goods: These are products and services generated by economic activity.
Composition
- Consumable: Computers
- Non-durable: Pizza
- Capital Goods
Function
- Intermediate Goods: Wool from sheep
- Finished Goods: Shirt made with wool
Ownership
- Private: Belonging to an individual or entity
- Public: Belonging to everyone
Economic Systems
- Capitalist: Characterized by a free market, private property, freedom to work and hire, and state intervention (on a small scale).
- Communist: Controlled by the state.
- Subsistence Economy: Based on self-consumption, typically found in the poorest and most isolated areas of the world.