The Economy: Goods and Services 7 Flashcards
what are: goods and services
goods - thing were able to see or touch
services - things we can neither see nor touch
who are: producers
producers - a producer of goods and services satisfies people’s needs and wants by supplying them with a product or service.
what are the 3 sectors of society that producers can from and describe them. include and example of the 3 stages in a farmer producing fruit.
1-Primary Sector:
produces raw materials and natural resources which are either used as they are found / sold to the Secondary Sector where they are used to manufacture / produce goods. this sector is mainly found in the rural areas
2-Secondary Sector:
raw materials are used to manufacture and produce goods. this sector is mainly found just outside of towns.
3-Tertiary Sector:
this sector is found mainly inside towns where the manufactured product is sold to buyers.
Example:
firstly fruit is grown by farmers ——> Primary Sector
fruit is then processed and canned ——> Secondary Sector
canned fruit is then sold at shops and supermarkets ——> Tertiary Sector.
who are consumers
consumers use goods and services provided by produces.
what is the role of households as producers
some people don’t work for large businesses and are not remunerated monthly, but rather they work for themselves and are self-employed.
give some examples of self-employed people (10)
- architects
- artists
- graphic designers
- doctors
- plumbers, electricians, bricklayers, painters and plasterers
- lawyers
- mechanics
- gardeners
- translators
- hunters
- tax consultants
what is the role of households as producers
some people don’t work for large businesses and are not remunerated monthly, but rather they work for themselves and are self-employed.
are the following higher of lower order needs
1 - food 2 - electronic equipment 3 - water 4 - clothing 5 - shelter 6 - cell phones and iPods
1 - lower 2 - higher 3 - lower 4 - lower 5 - lower 6 - higher
what is the role of households as consumers
households will first have to satisfy basic / lower order needs before satisfying higher order needs and wants.
give a list of 1 products, 2 their composition and 3 what can they be recycled and used to make.
- plastic bottles / bags - 2 - plastic - 3 - any plastic product and Eco-bricks.
- glass bottles / any glass - 2 - glass - 3 - re smelted into glass products
- waste food - 2 - organic materials - 3 - compost can be manufactured to feed soil
- any metals, metal toys / equipment - 2 - iron, brass, copper etc - 3 - can be melted down before being used in manufacturing process
- water run off and waste water (grey water) - 2 - water - 3 - water can be used to clean cars and water gardens
- used tyres and tubes - 2 - rubber - 3 - shoes, children’s jungle gyms, door mats etc
- old newspapers and paper - 2 - paper - 3 - recycled paper products
- wood products - 2 - wood - 3 - can be recycled to make smaller wood products
are the following higher of lower needs
1 - food 2 - electronic equipment 3 - water 4 - clothing 5 - shelter 6 - cell phones and iPods
1 - lower 2 - higher 3 - lower 4 - lower 5 - lower 6 - higher
why do we need to recycle and reuse
Because there are limited resources there is always a need to recycle and reuse.
give a list of 1 products, 2 their composition and 3 what can they be recycled and used to make.
- plastic bottles / bags - 2 - plastic - 3 - any plastic product and Eco-bricks.
- glass bottles / any glass - 2 - glass - 3 - re smelted into glass products
- waste food - 2 - organic materials - 3 - compost can be manufactured to feed soil
- any metals, metal toys / equipment - 2 - iron, brass, copper etc - 3 - can be melted down before being used in manufacturing process
- water run off and waste water (grey water) - 2 - water - 3 - water can be used to clean cars and water gardens
