Economic Activities
All human activities are divided into two categories: economic activities and non-economic activities. Non-economic activities are activities not concerned with money or wealth, undertaken for the soul and out of love. In turn, economic activities are the processes based on inputs and leading to the manufacture of goods or the provision of services.
Economic activities are all activities related to producing, distributing, providing, purchasing, exchanging, selling, and consuming goods or services. It is also resource management, the use of resources and capital for producing goods and services. Also making them available to consumers to be utilized for satisfying their needs and unlimited wants. According to the sector, the economic activities are divided into categories like agriculture, industry, construction, etc.
Mostly the economic activities are driven by rationality and logic, and lead to achievement profit. The use of factors of production like land, capital, labour, entrepreneur and income generation is one of the main indicators of economic activities. The income can have different forms like salary, profit, wages, rent, royalty, and more.
Moreover, economic activities are productive and obligatory motivated by certain aspects of the production of goods and services. All activities directed at bringing the products to the market like warehousing, transporting, etc. are also productive economic activities. And even the production for self-consumption is a productive economic activity because it increases the overall supply of the market.
Economic activities exist at all levels within society. All activities we perform to earn money or things of value are economic activities. The process of production of goods and services includes combining different factors like land, labour, capital, entrepreneurship, paid rent, wages, interest, and profits. Consumption as one more economic activity consists of the use of goods and services for the satisfaction of individual or collective wants. It entails the increase of production and supply of goods and services. It also promotes competition and introduction of better products in the market. Another part of produced goods is used for capital formation. And finally, there are no economic activities without savings and investment.
Example 1. Economic Activities
There are five basic types of economic activities:
- Primary sector works with raw materials. It includes physical resources coaxed or extracted from the earth, and raw materials mined, harvested, fished, or collected. The raw materials are only obtained and later are sold to businesses in other economic sectors.
- Secondary sector includes industry and manufacturing, and transforms raw materials from the primary sector into value-added products. The manufactured products have higher value and worth than used materials due to the application of labour, intelligence, equipment, systems.
- Tertiary sector trades in information and services. For most population, it is the main sector to earn for living.
- Quaternary sector is knowledge or intellectual sector. It is built on intellectual activity and the flow of information. It includes scientific researchers, professors, internet technicians, etc.
- Fifth sector is focused on infrastructure like governments, hospitals, and non-profit agencies.
Example 2. Economy Infographics Solution in ConceptDraw STORE
The clear and precise economy infographics are easy-to-understand and especially valuable for people. Designing exceptional and precise economy infographics is incredibly easy with ConceptDraw DIAGRAM software and Economy Infographics solution.
You can start with a blank screen or one of the pre-made samples as a template. Drag and drop specialized vector design elements — economy, industries, services, and more from the solution libraries. Add textual materials about economic activities or some other on your own. Use special tools to align your objects and apply formatting tools to make your infographic looking the best.
Example 3. Main Processes of a Company
The infographics you see on this page were created in ConceptDraw DIAGRAM software using the Economy Infographics Solution and its pre-made pictograms and clipart. They successfully demonstrate the solution's capabilities and professional results you can achieve. An experienced user spent 10-15 minutes creating each of these samples.
Use the powerful tools of the Economy Infographics Solution for ConceptDraw DIAGRAM software to create your own infographics and diagrams of any complexity fast and easy, and then successfully use them in your work and personal activity.
All source documents are vector graphic documents. They are available for reviewing, modifying, or converting to a variety of formats (PDF file, MS PowerPoint, MS Visio, and many more graphic formats) from the ConceptDraw STORE. The Economy Infographics Solution is available for all ConceptDraw DIAGRAM users.
