geo T3

Question 1

what is the economic activity

Answer 1

is an exchange between two parties: the one that satisfies the need and the other thtat makes the purchase ( pers q ho compra)

Question 2

objective of economy

Answer 2

The main pirpose of the economy is to satisfy peoples material needs in the form of goods and services

Question 3

producers and costumers

Answer 3

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

Question 4

what is suministres

Answer 4

the amount of goods and services that is avaible

Question 5

what is demand?

Answer 5

the quantity of a good or service that consumers wish to adquire

Question 6

3 Economy elements

Answer 6

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

Question 7

Are we reponsable consumers?

Answer 7

Primary needs: neccessity to survive
Secondary newds: not necessary for human surviving improve peoples wellbeing

Question 8

Hom many sectors are there?

Answer 8

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

Question 9

Which are the production factors?

Answer 9

• 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

Question 10

What are econom agents

Answer 10

play a key role in prod and sistrib and make imp desitions for the prod system

Question 11

types of economic agents

Answer 11

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

Question 12

economic system

Answer 12

is the set of rules and costumes, today the presominant form oragisation is capitalism - a free market and mixed economy

Question 13

The capital system

Answer 13

appeared during the Industrial Revolution

Question 14

caract of the capital system

Answer 14

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

Question 15

globalisation

Answer 15

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

Question 16

the globalisation of the economy has been causes by…

Answer 16

the increasing power of multinational companies, increased production, transport, telecomunications and trade

Question 17

Which are the caract of the proces of glob:

Answer 17

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

Question 18

Which are the three sidea of globalisation?

Answer 18

economic glob
politic globalisation
cultural glob

Question 19

SOCIAL AND CILTURAL CONSEQUENCES OF globalisation

Answer 19

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

Question 20

Which new global traits introduces?

Answer 20

terrorism produces by violents groups that reject the political and social order

Question 21

Ehat drives globalisation?

Answer 21

is the result of renoval international trade and dev in trans and telecomm

Question 22

What is trade liberasion?

Answer 22

the elimination of varries imposer on products

Question 23

consequences of trade liberation?

Answer 23

it makes easier for countries to trade

Question 24

What is a financial services?

Answer 24

are financial services that include all the activities relationated with managment of money and coverage fot goods and people

Question 25

services for the financial system consist on?

Answer 25

of entities and markets which economic respirces may be exchanged

Question 26

what is a financial market?

Answer 26

is one of the fundations of glob

Question 27

why there is a dev in transport an telecomm?

Answer 27

trade requires advanced transport and telecomm - the only way to move goods quickly
internet has also make developments i many things

Question 28

camapines:

Answer 28

produce and sell the goods and services in dif countries

Question 29

What is the just-in-time method?

Answer 29

is an inventory managment method the main objective of these method is to resuce inventary cost and increase it

Question 30

Multinationals benefit from globalisation

Answer 30

are the main agents in the proces of globalisation, they export their own interests

Question 31

Who does globalisation benefit?

Answer 31

1 centres of economic and financial desision-making
2 cebtres of political desition market
3 centres of acientific and tecno development
4 centres if cultural influence

Question 32

what is GDP and GNO

Answer 32

GNP: Groos national products - calue of goods and services produced by a countris campanies during the year

GDP: Gross domestic product - value of goods and services produced in a country during the year