Economic activity

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[LOGO]
ECONOMIC ACTIVITY
Goods and Services
Producers and Consumers in the Marketplace
[Your Name]
[Group / Class] • [University / School]
[Course Name]

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What We'll Cover
5-minute overview of economic activity
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Goods & Services
Economic Activity
What producing and consuming means
Goods vs. Services
Key differences, side by side
Real-World Examples
Goods and services we use daily
Producers & Consumers
Who they are and how they connect
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What Is Economic Activity?
Economic activity is any action that involves producing, exchanging, or
consuming goods and services to satisfy people's needs and wants.
Producer
Happens every time something is made, bought, or sold
Connects two key players: producers and consumers
Forms the foundation of every economy, large or small
Exchange
Consumer
Goods & Services
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Goods vs. Services
Two forms every economic output takes
Goods
Tangible, physical items you can see, touch, and own.
Services
Intangible actions or activities performed for a customer.
Can be stored and transported
Produced and consumed at the same time
Ownership transfers to the buyer
Cannot be stored for later use
Quality checked before purchase
Quality depends on the provider
Goods & Services
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Goods & Services in Everyday Life
GOODS
Goods & Services
SERVICES
Bread
Haircut
Bakery product bought and eaten
Performed by a barber, not stored
Automobile
Banking
Manufactured and owned by the buyer
Managing money and transactions
Smartphone
Education
Physical device, produced in a factory
Teaching delivered to a student
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Producers and Consumers
Producers
Individuals or businesses that create goods and provide
services.
Consumers
Individuals or households that purchase and use goods and
services.
Combine resources to create output
Choose based on needs, wants, and budget
Aim to meet consumer demand
Pay for what producers create
Earn revenue from sales
Drive demand in the market
Goods & Services
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How They Connect
A simple cycle of exchange
Producers
Market
Consumers
Create goods & services
Buying and selling
Use goods & services
Money flows from consumers to producers • Goods and services flow from producers to consumers
Goods & Services
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Key Takeaways
Goods & Services
Goods are tangible
Services are intangible
Physical products you can own and store.
Actions performed that can't be stored.
Producers supply
Consumers demand
They create output to meet demand.
They purchase and use what's produced.
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Thank You
Questions about goods, services, producers, or consumers?
[Your Name] • [Contact / Email]