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    01 Economic Activities

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    Lawrence Paz
    1. The document discusses four key economic activities: production, distribution, exchange, and consumption. 2. Production involves transforming inputs like land, labor, capital into goods and services through processes like manufacturing, assembly, processing, and providing services. 3. Distribution refers to marketing goods and services to different economic outlets to reach ultimate consumers, while exchange is the process of transferring goods and services from producers to consumers in return for payment.

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    01 Economic Activities

    Uploaded by

    Lawrence Paz
    28 views17 pages
    1. The document discusses four key economic activities: production, distribution, exchange, and consumption. 2. Production involves transforming inputs like land, labor, capital into goods and services through processes like manufacturing, assembly, processing, and providing services. 3. Distribution refers to marketing goods and services to different economic outlets to reach ultimate consumers, while exchange is the process of transferring goods and services from producers to consumers in return for payment.

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    1. The document discusses four key economic activities: production, distribution, exchange, and consumption. 2. Production involves transforming inputs like land, labor, capital into goods and services through processes like manufacturing, assembly, processing, and providing services. 3. Distribution refers to marketing goods and services to different economic outlets to reach ultimate consumers, while exchange is the process of transferring goods and services from producers to consumers in return for payment.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    28 views17 pages

    01 Economic Activities

    Uploaded by

    Lawrence Paz
    1. The document discusses four key economic activities: production, distribution, exchange, and consumption. 2. Production involves transforming inputs like land, labor, capital into goods and services through processes like manufacturing, assembly, processing, and providing services. 3. Distribution refers to marketing goods and services to different economic outlets to reach ultimate consumers, while exchange is the process of transferring goods and services from producers to consumers in return for payment.

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    Unit 1

    Economic Activities

    Prepared by :
    Josefine M. de Loen
    Professor
    University of the Cordilleras
    College of Business Administration
    ECONOMIC
    ACTIVITIES
    A. Production
    B. Distribution
    C. Exchange
    D. Consumption
    PRODUCTION

    Processes and methods employed in


    transforming tangible and
    intangible inputs into goods or
    services.
    PRODUCTION

    Production Production Production


    Inputs Process Outputs

    Land Manufacturing Goods


    Labor Assembly Finished
    Capital Processing Products
    Entrepreneurs Service Operations Semi-
    Processed
    Products
    Services
    PRODUCTION
    PROCESS
    Manufacturing : RM – FP

    Assembly : SPP – FP

    Processing : RM / SPP – SPP

    Service Operations : no actual


    production process involved;
    offering of services
    PRODUCTION
    OUTPUTS
    Goods : commodities, or physical,
    tangible items that satisfy some human
    want or need; or things which people find
    useful or desirable and make an effort to
    acquire them

    Services : works performed for someone

    these are intangibles which cannot be


    touched
    Types of Goods

    Consumer Goods : intended for


    final use by individuals

    Capital Goods : goods used to


    produce other goods
    Types of Goods

    Durable Goods : goods that can


    last for 3 years or more

    Non-durable goods : goods that


    last for less than 3 years when
    used on a regular basis
    Types of Goods

    Finished Products : ready for


    consumption ; for end-users

    Semi-Processed Products : need


    further processing before final
    use; for industrial users
    TYPES OF GOODS

    Basic Goods : Primary and


    necessary items needed for
    man to survive

    Example : food, clothing,


    shelter
    TYPES OF GOODS

    Luxury Goods : items that are


    desired by man to have a more
    comfortable way of life, but are
    not necessary to his survival

    often expensive and not easy to


    acquire
    TYPES OF GOODS

    Public goods : goods that are


    provided for by government for
    the benefit of its constituents
    TYPES OF GOODS

    Free goods : goods that are


    normally abundant and do not
    need to be paid for
    TYPES OF GOODS

    Economic goods : goods that are


    scarce or are in limited supply in
    relation to demand.
    DISTRIBUTION

    refers to the marketing of goods and


    services to different economic
    outlets for allocation to individual
    consumers
    it focuses how the products
    will reach the ultimate consumer
    EXCHANGE

    refers to the process of transferring


    goods and services from the
    producer to the consumer in return
    for something
    CONSUMPTION

    it refers to the proper utilization of


    goods and services

    it also refers to the spending of


    money for goods and services in
    order to yield direct satisfaction

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