Various Economic Actions and Examples (Complete)
Various Economic Actions and Examples (Complete) – The term economic action can be equated with economic activity. Economic actions can basically be classified into three actions, namely production, consumption and distribution activities. These three economic activities are interconnected and interdependent.
Various Economic Actions and Examples (Complete)
Let's discuss the complete production activities first carefully.
Production Activities
Production activities are activities to produce or increase the usefulness of goods/services to meet human needs. The person or entity that produces the production results is called the producer.
Some examples of production activities are as follows:
- Agriculture, plantations, fisheries, animal husbandry.
- Excavation, drilling, mining.
- Industry and others.
In order for production activities to take place, objects are needed which are used to produce goods/services which are called production factors or economic resources. Production factors include the following:
- Natural
- Labor
- Capital
- Entrepreneur/entrepreneurship.
The aim of producers in carrying out production actions is to fulfill human needs in achieving prosperity.
Consumption Activities
Consumption activities are activities that use or consume goods produced, whether they run out slowly to meet human needs. People or bodies that carry out consumption activities are called consumers.
Some examples of consumption activities include the following:
- Eating and drinking;
- Use of clothing, vehicles;
- Use of the services of doctors, nurses, teachers and others.
The characteristics of consumption activities are as follows:
- Goods used in consumption activities are consumer goods;
- Directly aimed at meeting needs;
- Items used will run out or decrease.
The consumer's goal in carrying out consumption actions is as follows:
- Make ends meet
- Gives pleasure
- Measurement of the level of social status
- Add requests
- Creating new innovations
Distribution Activities
Distribution activities are activities or businesses that distribute goods and services produced from producers to consumers through the buying and selling process. The person or entity that carries out distribution activities is called a distributor. Distributors will usually gain profits, both from the producer and the consumer. Examples include supermarkets, shops and street vendors.
The objectives of distribution activities are as follows:
- Disseminate and strive for equal distribution of production results to consumers in areas that need it.
- For business development, improvement and expansion of production.
- To maintain the continuity/survival of production activities.
That's a brief discussion about Various Economic Actions and Examples (Complete), hopefully it's useful for all of us. Thank You.
Source: Integrated Social Sciences Class 7 Mandate
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