Economic Action: Definition and Explanation
Economic Action: Definition and Explanation – Humans will not be separated from the continuous needs of life, so they need actions that can meet those needs.
Economic Action: Definition and Explanation
On this occasion, About Knowledge will explain the meaning of economic action along with human needs which are divided into several groups. Here's an explanation.
Definition of Economic Action
Economic action is everything that is done by every human being in an effort to meet their needs which is based on the best and more profitable choice.
For example, a woman in a rural area prefers to cook with wood rather than a stove, because gas is more expensive. Another example, in buying fuel oil such as gasoline, preferring at a gas station rather than a shop, because the price is more economical at the gas station.
Economic action is human action to meet their needs by making choices and taking advantage of opportunities as accurately as possible. Every human being certainly has the desire to fulfill his needs as much as possible.
In meeting their needs, humans need steps and actions that they must take. The actions taken are none other than needs which are categorized as economic actions.
Needs are everything that humans need to achieve prosperity and prosperity. Human needs are divided into four, namely:
1. Based on the level of importance
- Primary needs: a very important need, really very much needed and mandatory in nature to be fulfilled. Such as clothing, food and boards.
- Secondary need: the type of needs needed after all basic or primary needs are met. Secondary needs are supporting primary needs. For example: good and decent housing, good education, nutritious food, and others that are not yet in the luxury category. Only better.
- Tertiary needs: needs that are luxurious or not simple. For example: cars, motorized vehicles, laptops, iphones, etc.
2. By nature
- Physical needs: in the form of needs related to the human body or outwardly. Such as: food, clothing, sleep, sandals, make up, etc.
- Spiritual needs: in the form of needs related to the human soul. Such as: socializing, worship, recreation, entertainment etc.
3. Based on time
- Need now: a very urgent need and needed at this time. For example: a broken water faucet, must be replaced immediately, dying to pee, eating because of hunger, accidents that must be treated immediately.
- future needs: needs that can be postponed and fulfilled at a later time in the future. Example: going to pilgrimage, higher education, buying a sports car etc.
4. Based on the subject of the user
- Personal/individual needs: needs that are only needed by individuals or individuals. For example: brushing teeth, praying 5 times, eating etc.
- Collective/social needs: the needs needed by a group either in the form of goods or services that can satisfy and fulfill social or group needs. For example: public roads or highways, organizations, the business world, companies and so on.
Thus our brief explanation this time regarding Economic Action: Definition and Explanation, hopefully useful and can add insight to all of us. Thank you 🙂
List of contents
Recommendation:
- √ Definition of Price Index, Uses, Characteristics, Types, Roles… Definition of Price Index, Use, Characteristics, Types, Role of Complete Price Index - On this occasion we will discuss about Price Index. The discussion includes the meaning, use, characteristics, types of price index...
- Craft Arts: Definition, History, Function, Purpose, Elements,… Craft Art: Definition, History, Function, Purpose, Elements, Types and Examples - What is meant by craft arts and their purpose? about…
- Conductors Are: Characteristics, Functions, Terms and… Conductors Are: Characteristics, Functions, Terms and Examples - What is a Conductor?, On On this occasion, Seputarknowledge.co.id will discuss it, including functions and of course other things as well covered it. Let us…
- Preface: Definition, Structure and Examples Preface: Definition, Structure and Examples - How to write a good Preface ?On this occasion, Around the Knowledge.co.id will discuss what is the Preface and other things about it. Let's see…
- Mangrove Forests Are: Characteristics, Benefits, Causes of Damage And… Mangrove Forests Are: Characteristics, Benefits, Triggers of Damage and Countermeasures - What is meant by forest mangroves and their functions? On this occasion, Se regarding the knowledge.co.id will discuss it and of course about it other…
- Contamination is: Types, Causes, Prevention And… Contamination is: Types, Causes, Prevention And Examples - What is contamination?, on On this occasion, Seputarknowledge.co.id will discuss it and of course about other things as well covered it. Let's see together…
- Types of Color Types: Definition, Characters and Explanations Types of Color Types: Definition, Characters and Explanations - What are the types of colors and their explanations? On this occasion, Seputarknowledge.co.id will discuss it and of course the things that also cover it.…
- Types of Official Letters, Characteristics, Functions and Examples Types of Official Letters, Characteristics, Functions and Examples - What are the types of official letters? On this occasion, Seputarknowledge.co.id will discuss it and of course about other things as well covered it. Let…
- 43 Understanding of Leadership According to Experts (Discuss in full) 43 Definitions of Leadership According to Experts (Discuss Completely) - We must be familiar with the word leadership, in our daily life sometimes we do not realize that everything exists relationship...
- Factors Inhibiting Social Mobility: Definition, Factors… Inhibiting Factors of Social Mobility: Definition, Driving Factors and Explanations - What is the meaning of social mobility and What are the inhibiting factors? On this occasion, about the knowledge of Knowledge.co.id will discuss it, including nutritional content and naturally…
- 29 Definition of Human Rights - Human Rights According to Experts… 29 Definition of Human Rights - Human Rights According to Experts (Complete) - Every human being since birth has had human rights where as a human being must have something that becomes the main or basic…
- Environmental Speech: Definition, Purpose, Characteristics and… Environmental Speech: Definition, Purpose, Characteristics and Examples - How is the text of environmental speech structured? what's good and right?, On this occasion, Seputarknowledge.co.id will discuss it and of course things Which…
- Qiyas: Definition, Pillars, Propositions, Elements, Conditions and… Qiyas: Definition, Pillars, Postulates, Elements, Terms and Distribution - What is meant by Qiyas? On this occasion, Seputarknowledge.co.id will discuss it and of course other things that also cover it. Let…
- Protected Forest: Definition, Function, Legal Basis for Protecting… Protected Forest: Definition, Function, Legal Basis for Protection and Examples - What is meant by protected forest? On this occasion, Seputarknowledge.co.id will discuss it and of course other things Also…
- Computer Hardware: How it Works, Types, Examples and… Computer Hardware: How it Works, Types, Examples and Functions - In today's computerized era, we are definitely familiar with computers and their devices. However, some may not know...
- Ijarah Law: Definition, Legal Basis, Requirements, Pillars, Types of… Ijarah Law: Definition, Legal Basis, Terms, Pillars, Types and Terms - What is Ijarah law and basically?, On this occasion Seputarknowledge.co.id will discuss it and of course about it other…
- Short Story Text: Definition, Characteristics, Structure, Elements and Examples Short Story Text: Definition, Characteristics, Structure, Elements and Examples - What is Short Story Text? On this occasion, Seputarknowledge.co.id will discuss short story texts and the things that surround them. Let us…
- Classification of Living Things: Definition, Purpose, Taxon and… Classification of Living Things: Definition, Purpose, Taxon and Classification System - To more easily recognize the grouping of living things, a classification is needed. On this occasion, Seputarknowledge.co.id will discuss the classification of…
- Islamic Kingdoms in Indonesia and a Brief History Islamic Empires in Indonesia and History in a Nutshell - What is the history of Islamic empires in Indonesia?, On On this occasion, Seputarknowledge.co.id will discuss it and of course about other things as well covered it. Let's see…
- 74 Definition of Education According to Experts 74 Definition of Education According to Experts – Humans have been educated since they were born into the world until they enter school. The word education is no longer foreign to our ears, because all...
- Class 6 Farewell Speech Text: Main Contents, Characteristics,… Farewell Speech Text for Class 6: Main Contents, Characteristics, Purpose and Examples of Speeches - What is the composition of the text of farewell speech for class 6 which is good and true and touching?
- The Political Life of the Majapahit Empire: Early History and… The Political Life of the Majapahit Kingdom: Early History and Legacy - How was the Political Life of the Kingdom Majapahit? On this occasion, Seputarknowledge.co.id will discuss the Majapahit Kingdom and other things covered it. Let's look at the discussion together...
- Renaissance Age Renaissance Period: Definition, History, Background and Characters - What is meant by the Renaissance era? On this occasion, Seputarknowledge.co.id will discuss it and of course about other things that also…
- Crude Oil is: Definition, History, Stages of Processing &… Petroleum is: Definition, History, Stages of Processing & Its Use - In this discussion, you will learn about Petroleum. Which includes understanding, history, stages of processing and use of petroleum...
- Islamic Words of Wisdom Islamic Words of Wisdom - On this occasion, SeputihKnowledge.co.id will discuss Islamic Words of Wisdom and examples. Let's look at the discussion together in the article below to get more...
- Customers Are: Understanding According to Experts,… Customers Are: Understanding According to Experts, Characteristics, and Types - Of course, we know what a customer means, but maybe we don't know more deeply what a customer means? For discussion…
- √ Understanding Ecosystems, Forming Components and Their Types… Definition of Ecosystems, Forming Components and Their Types (Complete) - In this discussion we will explain about Social Laziness. Which includes the definitions, dimensions, aspects and factors that cause social laziness with a complete discussion of…
- Example of historical story text in Indonesia Examples of historical story texts in Indonesia – What are examples of historical stories like? This time around the knowledge.co.id will discuss examples of historical stories and their structures. Let's take a look at the discussion in the article on…
- Example of a Non-Fiction Book Review: Purpose and Benefits of a Review Example of a Non-Fiction Book Review: Purpose and Benefits of a Review - What is meant by a non-fiction book review?
- Prayer and Dhikr After Prayer Prayer and Dhikr After Prayer - How are the readings of Prayer and Dhikr after prayer? Let's look at the discussion together...