The economic activities are those activities that include production, distribution, and consumption of goods. The people involve in the economic activities are in charge of suppling the domestic and the foreign markets .
With the labor’s division in the Industrial Revolution, more different areas have appeared and the economic activities has been specialized more and more.
Also, with this revolution, the specializations has appeared among the countries, the poor and undevelopped countries, known as Third World, are in charge of the production the raw materials, when the developed and industrialized countries are the producers and sellers of the products to the whole world.
Types of Economic Activities
There are three different types of economic activities: primary sector, secondary sector and tertiary sector.
They are the first link in the produccion. They are in charge of extracting the raw materials from the nature, they work with the natural resources.
Normally, the salaries are not good and the profit is distrivuited among a very small group of people. This type of economic activities is composed of agriculture, mining, among others.
This type of economic activities are the industrial activities. They are in charge of transforming the raw materials into products ready for sale.
They use expensive machinery to transform the natural resources in valuable stuff for the market. This type of economic activities include the production of food, beverages, textile, chemical, petroleum, among others.
This type of economic activities is responsible for the distribution of the product and the selling activity. It include important areas such us marketing. In this sector we can find different activities such us trade and media.
- Trade: Trade is in charge of the distribution and marketing of the products that are produced in the first two activities.
- Media: This include print, television, radio. They are in charge of the promotion of products and services.