economy

definition of economic activity

Economic activities are all the processes that take place to obtain products, goods and / or services intended to meet needs and desires in a particular society.

For the economy and finance, an activity is any process that occurs in an organized manner with the ultimate goal of generating products, or also goods and services, which in a given context will contribute to the economic progress of a group, society or nation.

Economic activities have the purpose of covering human needs from work on the resources available on the planet and, in that sense, they contemplate not only economic and business criteria, but also social and environmental criteria in decision-making.

Any activity worth its salt can and should be segmented into production phases (understood as that which operates on the raw material for the development of a certain product or good), distribution (in terms of placing the products in different geographical points of society within the reach of the consumer) and consumption (that is, the appropriation of the property by an individual or entity).

Typical economic activities in the different countries of the world are agriculture and livestock, but also industry, commerce, communications, scientific research and almost any activity that involves the production of a good in exchange for a monetary or other refund. kind.

Within these activities, it is considered primary sector the one that includes the activities that deal with obtaining food and raw materials from the natural environment; secondary sector those who work on raw materials in industrial settings; and tertiary which groups together the services available to a company. In the most advanced economies, the tertiary sector tends to gain a place over the primary sector, which is predominant in developing economies.