Concetti Chiave
- Production involves creating and supplying goods and services to fulfill people's needs and wants, distinguishing between essential needs and additional wants.
- Goods are tangible items categorized into non-durable goods, which are consumed quickly, and durable goods, which have a longer lifespan.
- The four factors of production are land (natural resources), labor (human resources), capital (man-made goods and finance), and enterprise (business initiative).
- Production is categorized into three sectors: primary (extraction of raw materials), secondary (manufacturing), and tertiary (services and support).
- Non-profit associations include voluntary organizations and cooperatives that operate without the primary aim of profit.
Production is the posers of making and supplying goods and services in order to satisfay people’s needs and wants.
Needs and wants
NEEDS: are the things which are essential for existence. The five basic needs are food, water, shelter, clothes and warmth.
WANTS: are things which are not really needed. Nobody really needs a car or a telephone, but life is much easier if you have them.
There are two types of production: goods and services.
GOODS: are physical objects that we can see and touch. They can divided into two categories:
- Non-durable goods: are things consumed son after they are bot, for examples: newspaper, tobacco.
- Durable goods: that last much longer, for example: tourism, education and transport.
CV is a summary of your previous work experience, education and training, skills and competences.
Factors of production
There are four factors of production: land, labor, capital and enterprise.
LAND: refers to the natural resources used in productions such as water, soil for farming, air, flora and fauna.
LABOR: refers to the human resources of the business, that is the workers and managers available and willing to work.
CAPITAL: refers to the human made goods that are used in production (machinery, building, equipment) and the money available to start a expand a business.
ENTERPRISE: refers to the people who are willing to set up in business despite any risks.
Sectors of production
Productions can be divided into three sectors:
PRIMARY: which consists in extraction or productions of raw materials from the land or see: for example mining, fishing, farming, and forestry.
SECONDARY: which consists of manufacturing processing and production of finished goods from raw materials.
TERTIARY: consists of sale support services commercial services such as retailing distribution advising financial, banks-insurance.
NON PROFIT ASSOCIATION: voluntary organizations cooperatives.
Domande da interrogazione
- What are the basic needs essential for human existence according to the text?
- How does the text differentiate between non-durable and durable goods?
- What are the four factors of production mentioned in the text?
The text identifies the five basic needs essential for existence as food, water, shelter, clothes, and warmth.
Non-durable goods are consumed soon after purchase, like newspapers and tobacco, while durable goods last much longer, such as tourism, education, and transport.
The four factors of production are land (natural resources), labor (human resources), capital (human-made goods and money), and enterprise (entrepreneurs willing to take risks).
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