Economic Agents

Introduction from my main blog about economics.

What are economic agents? economic agents are actors who intervene the economy under certain rules determined by the economic system and economic institutions. They make decisions trying to resolve an optimization or choice problem. In this process, they mold the economy; for example, they decide the distribution of goods and services, taxes, laws, tariffs, etc.

Another definition of economic agents, also known as economic actors, considers them as decisions makers who are able to recognize different economic factors, incentives, and motivations of the different economic groups.

The concept of “economic agents” was created by economist to simplify and explain economic processes. As a concept, it was first used in classical and neoclassical models where economists construct a simplified framework representing the economic process by a set of variables and a set of logical relationship between them.




Gods and services

a little introduction from my main blog.

What are goods and services? Economic or scarce goods and services are items generated through economic activities in order to meet a need or a desire. They are traded in the market and their prices are determined by supply and demand. Usually to a greater supply the price of the good decreases and to a greater demand it increases. Thus the exchange of goods and services is given at a price that is mutually beneficial to both parties (seller and buyer).

Goods are produced in the primary or secondary sector. While Services, in general, are part of the economic activity of the tertiary sector.

link: goods and


Economic Activities

What is economic activity? Economic activities are production processes that through the use of factors of production create goods and services to meet the needs of individuals in the economy.


Three sectors of the economy

The economic activity of a country can be classified into primary sector, secondary sector, and tertiary sector. Through these activities, we are able to extract resources, transform raw materials and offer services respectively.

what are economic activities?


What are the economic activities?

  • Primary economic sector: agriculture, breeding, forestry, fishery, hunting, and mining.
  • Secondary economic sector: manufacturing, construction, generation and distribution of clean water, electricity, and gas.
  • Tertiary economic sector: retail trade, real estate, governmental and judicial activities, insurance and financial services, health services, media, transportation and storage, educational services, hotels and restaurants, telecommunications.

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Tertiary economic activity

What is the tertiary economic activity? The tertiary economic activity or service sector encompasses the production of services instead of end goods that meet the needs of individuals. The tertiary sector is composed of the “soft” parts of the economy, that is, activities where people offer their knowledge and time to improve the productivity, performance, potential, and sustainability of the economy.

Services are also known as intangible goods and include care, advice, experience, discussion, among others.

The tertiary economic activity involves not only the provision of services to consumers (B2C) but also to other companies (B2B). For example the consulting services from a digital agency to an online store.

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Secondary sector

The secondary sector or secondary economic activity definition: it includes economic activities that create finished products for consumption. It takes the production of the primary activities and manufactures new end goods.

Usually, the secondary activities are divided into two sectors: light industry and heavy industry.


secondary activity

Primary economic activities

What are primary economic activities? Primary activities or primary industry comprise all economic activities based on the extraction or harvest of goods from the natural environment. This includes agriculture, forestry, mining, hunting, and fishing.

These activities contrast with the secondary activities that produce manufactures and the tertiary sector that offer services.

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El cobre de impuestos en el mundo

El cobre de impuestos en el mundo

El cobre de impuestos en el mundo como porcentaje del PIB.