Economic Geography

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Economic Geography

  1. 1. 3 rd Unit: Economic Geography 1. Economic Activities. The capitalist economy <ul><li>Economy or Economc Acivity </li></ul><ul><li>Economic System </li></ul><ul><li>Capitalist Economy </li></ul><ul><li>Law of Supply and Demand </li></ul>
  2. 2. Economy: Definition Economy Economic Activity
  3. 3. Economy: Definition
  4. 4. It i s the way in which people use their environment to meet their material needs. It includes production , exchange , distribution , and consumption of goods and services . Economy: Definition
  5. 5. Different phases of the economic activity : Economy: Definition
  6. 6. People have unlimmited needs that must be satified. Basic Needs: food, shelter and clothing Other: sanitation, education and healthcare.
  7. 7. NOWADAYS, THE WORLD ECONOMY FACES TWO BIG PROBLEMS … PROBLEM UNLIMITED NEEDS LIMITED RESOURCES VS
  8. 8. … to garantee the basic needs of EVERYBODY…
  9. 9. … at the same time, to avoid finnishing our planet’s limited resources.
  10. 10. Economic System
  11. 11. Economic System Paleolithic economic system
  12. 12. Economic System Which is our economic system? CAPITALISM
  13. 13. Capitalist economy
  14. 14. Supply and demand is an economic model based on price, utility and quantity in a market. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity. Law of the supply and demand
  15. 15. FREE MARKET (Products price) Offer products Demand products Law of the supply and demand SUPPLY (sellers) DEMAND (buyers) LOW HIGH LOTS LOTS FEW FEW
  16. 16. Law of the supply and demand
  17. 17. Law of the supply and demand
  18. 18. Law of the supply and demand: EXCEPTIONS
  19. 19. 2. Economic Agents <ul><li>Definition and types </li></ul><ul><li>Private agents: Families </li></ul><ul><li>Private agents: Companies </li></ul><ul><li>Public agents: State </li></ul>
  20. 20. Economic Agents Economic Agents
  21. 21. Economic Agents
  22. 22. Economic Agents: Families
  23. 23. Economic Agents: Families
  24. 24. Economic Agents: Families
  25. 25. Private Agents: Families
  26. 26. Private Agents: Families
  27. 27. Produce goods and services Companies Aim: Maximun Profit Economic Agents: Companies
  28. 28. Companies: Types <ul><ul><li>Individual </li></ul></ul><ul><ul><li>Society </li></ul></ul>
  29. 29. Companies: types
  30. 30. Companies: types
  31. 31. Companies: types
  32. 32. Companies: types
  33. 33. PUBLIC AGENTS: STATE
  34. 34. <ul><li>Definition </li></ul><ul><li>Natural Resources </li></ul><ul><li>Work </li></ul><ul><li>Non Natural Resources </li></ul><ul><li>Tecnology </li></ul>3. Factors of Production
  35. 35. What do we need to build this? Factors of Production
  36. 36. Factors of Production : Definition Factors of Production is an economic phrase describing resources (inputs) which are used to produce goods or services.
  37. 37. Factors of Production : Types
  38. 38. Factors of Production : land   Land represents what natural resources are used in the production of goods
  39. 39. Factors of Production : land
  40. 40. Factors of Production: labor Labor refers to the work of laborers on all levels of the business, other than the entrepreneur
  41. 41. Factors of Production: labor
  42. 42. Capital is defined as the machinery, tools, and non-consumed items which are used in the production of the goods Factors of Production: capital
  43. 43. Factors of Production: capital
  44. 45. FACTORS OF PRODUCTION: ENTREPRENEURSHIP The entrepreneur is the one who makes use of the idea in an attempt to profit by combining all of the aspects of the factors of production. The entrepreneur combines &quot;land, labor, and capital&quot; with a particular idea or skill of his in order to run his business and offer its particular goods or services.
  45. 46. 4. LABOR MARKET <ul><li>DEFINITION </li></ul><ul><li>TYPES </li></ul><ul><li>MAIN CHARACTERISTICS OF OUR LABOR MARKET </li></ul>
  46. 47. LABOR MARKET: DEFINITION Market: A market is any one of a variety of different systems, institutions, procedures, social relations and infrastructures whereby persons trade, and goods and services are exchanged, forming part of the economy.
  47. 48. Relation between the company and the worker is set by an employment contract .
  48. 49. TIPOS DE MERCADOS LABORALES Depending on the Salary
  49. 51. MAIN CHARACTERISTICS OF OUR LABOR MARKET
  50. 52. Service Economy

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