economic activity

The activities are those actions or processes carried out by individuals or organizations. Adjective economic, for its part, refers to what is linked to economy (the science dedicated to the analysis of the satisfaction of the material needs of people from resources that are scarce).

The economic activity, therefore, it is the procedure that implies the production and the exchange from services Y products to meet the needs of individuals. Each economic activity is developed in three phases: the generation of the service or the product, its distribution and finally consumption. The whole process produces wealth.

It is possible to divide economic activities into three large groups: primary economic activities, the secondary economic activities and the tertiary economic activities. The primary activities They consist of obtaining raw materials from nature: for example, planting and harvesting potatoes or potatoes.

Among the main activities that are included within this primary sector, we can highlight, therefore, agriculture, mining, hunting, fishing, livestock or forestry, among others.

The secondary economic activitiesOn the other hand, they involve the transformation of raw materials (freezing and vacuum-packing potatoes for marketing in supermarkets, to name one possibility).

This second group of economic activities is where construction, iron and steel industry, manufacturing, power generation, food production, pharmaceutical industry, chemical industry are found ...

The tertiary economic activities, finally, are the services: those processes that do not include the production of a physical good. The transport of packaged potatoes to the supermarket is an example of tertiary economic activity.

In this third group of economic activities, for its part, is where we come across tourism, transport, education, communications, commerce ...

It should be noted that economic activity can be developed by a person (an independent worker), a organization (either a company, a cooperative, etc.) or the Condition (a public company).

It is also important to underline the fundamental weight that economic activity exerts in any country or region, its wealth will depend on it. However, each place stands out for giving priority to one activity or another, based on its raw materials or potential. Thus, for example, in Spain there are autonomous communities that are mainly developed in what is olives or vineyards, while others are based on mining or directly in industry.

In addition to all the above, when referring to what is economic activity, it is essential that a series of concepts are taken into account that are key to understanding and developing it. We are referring to issues such as inflation or cost of living, profit, service or good, among many others.

This without forgetting others as would be the case, for example, of production, investment, Gross Domestic Product (GDP), speculation, productivity or even the market.