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Udad.1 Economic Actiity
Udad.1 Economic Actiity
(Unit 1 Editex)
Commercial Activity.
Business Cycle.
Economic Activity.
• Concept: Activity that includes the process where production and
exchange of products (output), goods and services, are generated to
satisfy human necessities.
Economic
Activity
Consumptio
Production Distribution
n
Keywords.
• Bienes de consumo: Consumer • Compra de acciones: Stock purchase
Goods • Compra por internet: Online
• Bienes de primera necesidad: Basic purchase
consumer goods • Comprador: Buyer, purchaser,
• Comprar: Buy, Purchase • Consumidor: Consumer
• Compra: Purchase, groceries (food) • Cliente: Customer
• Cesta de la compra: Shopping • Venta: Sale
basket
• Mercado: Market
• Compra a plazos: Hire purchase
• Vendedor: Agent, Salesperson
• Compra al contado: Cash purchase
Factors of production (inputs):
Factors of
Production
Tertiary,
Primary Secondary Service Quaternary
Agriculture Technology
Industry Transports
Livestock Research
Construction/Bulding Commercial
Fishing
Tourism
Mining
Education
Forestry
Health Service
Financial
…
Economic
Agents • Function/Role
(Participants)
• Consumer
Family • Labour
• Production
Company • Hire/Pay salary
Public • Regulation
• Supply basic goods and services
Sector/State
Circular Flow of Incomes
Keywords: • Renta: Income
• Demanda: Demand • Subvenciones: Grant
• Oferta: Supply • Impuestos: Tax
• Mercado de Factores: Market • Interés: Interest
factors • Beneficio: Profit
• Precio: Price • Sector Exterior: Foreign Market
• Trasferencia: Transfer • Exportaciones: Exports
• Bien Público: Public Good • Importaciones: Imports
Business
Cycle
Accounting
FIXED
CURRENT LIABILITIES
ASSETS
CURRENT
LIABILITIES
TYPE of Companies. Keywords
• Sociedad: Corporation, Company, Partnership, Society
• Sociedad mercantil: Trading Company
• Sociedad Anónima: Stock company
• Sociedad Colectiva: Partnership
• Sociedad cuyas acciones cotizan en Bolsa: Stock exchange listed
company
• Sociedad limitada: Limited Company
• Sociedad sin fin de lucro: Non-profit Corporation
• Autónomo: Self-employed person, freelancer