THE DIFFERENT SECTORS OF THE ECONOMY Flashcards
consumer (potrošač)
a person who buys goods and services; a person whose needs are satisfied by
producers
customer (kupac)
a person or an organization that buy a product or service from a shop or a producer
commodity (roba)
any goods that can be bought
industry
the production of goods or services by the organized use of capital and labour
goods (prozvodi, roba)
physical objects that can be bought for a price
services (usluge)
non-physical, intangible products (education, medical care, tourism, entertainment,
etc.)
capital goods (kapitalna dobra)
goods that are sold to other producers and these can help either make other
goods (e.g. machinery, equipment) or they can help provide a service to a manufacturer (e.g. a
delivery van)
consumer goods (potrošačka dobra)
goods that are sold to the final consumer
consumable goods (potrošna dobra)
goods that are used up when consumed (e.g. bread)
consumer durables (trajna potrošna roba)
goods that last longer and their use does not lead to the disappearance
of the product (e.g. a TV set, a cell phone, etc.)
commercial services
services for businesses, which help these businesses in the production
process or in the distribution of their goods
direct services
services that are provided to consumers (e.g. hairdressing, restaurant meals,
and healthcare)
GPN (Bruto nacionalni proizvod)
the total value of goods and services produced in a country in a year, including income from
abroad
product
anything capable of satisfying a want or a need; something made, manufactured or
produced by a mechanical, industrial or natural process
infrastructure
the basic systems and structures that a country needs to make economic
activity possible, such as roads, railways, telecommunications, etc.
GDP (BDP-bruto domaći proizvod)
the total value of goods and services produced in a country in a year
raw material (Sirovina)
a substance used to make a product
manufacturing (proizvodnja)
the process of producing goods in factories
primary sector
section of the economy the purpose of which is to extract raw materials
secondary sector
section of the economy the purpose of which is to turn raw materials into finished products (manufacturing)
tertiary sector
section of the economy the purpose of which is to provide services
quaternary sector
section of the economy which includes ICT (information and
communication technologies), consultancy services (offering advice to businesses), R&D (research
and development, especially in scientific fields), and by broader definitions: news media, libraries,
universities and colleges, and other intellectual activities including culture generally
retailing (maloprodaja)
selling goods in small quantities directly to consumers
wholesaling (veleprodaja)
the selling of goods in large amounts to shops and businesses
