Economic Activity

Most people work to earn a living, and produce goods and services. Goods are eather agricultural (like maize and milk) or manufactured ( like cars and paper). Services are such things as education, medicine and comerce. Some people provide goods, some people provide services. Other people provide both goods and service which helps him to maintain his car.

The work people do is called economic activity. All economic activity together make up the economic system of a town, a city, a country or the world. Such an economic system is the sum-total of what people do and what they want. The work people undertake either provides what they need or provides the money with which they can buy essential commodities. Of course, most people hope to earn enought money to buy commodities and services which are non-esential but which provide some particular personal satisfaction, like toys for children, visits to cinema and books.