The document discusses key concepts related to economics and the economy. It defines vocabulary terms like subsidy, profit, and renewable energies. It explains the three phases of economic activity: production, distribution, and consumption. It also outlines the main economic sectors. The document stresses that renewable energies currently require government subsidies to be economically viable but that they promote sustainability. It provides examples of companies reporting profits from product sales.

1. The Economy

2. Vocabulary -match and look for translation into Spanish
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Sphere
Sustainable
Profit
Goods
Tangible
Wages
Raw materials
Ownership
State-owned
Subsidy
Employee
encourage
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
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Promote, help
Objects, which we can touch
Activity that does not overexploit resources
Services sold & bought which we can´t touch
Money earned for work done
The property of someone
Not owned by private hands
Help given by governments
Person working for someone else
Area, field
Amount earned after deducting costs
Materials used to produce something else

3. sustainability… is it possible?

4. Phases of economic activity
1. Production
2. Distribution
3. Consumption

5. Economic sectors

6. subsidy
• A subsidy is assistance paid to a business or
economic sector or producers. Most subsidies are set
in place by the government for producers or are distributed
as subventions in an industry to prevent the decline of that
industry (e.g., as a result of continuous unprofitable
operations) or an increase in the prices of its products or
simply to encourage it to hire more employees (as in the
case of a wage subsidy).
Examples are subsidies to encourage the sale of exports;
subsidies on some foods to keep down the cost of living,
especially in urban areas; and subsidies to encourage the
expansion of farm production and achieve self-reliance in food
production.

7. Renewable
energies
• Nowadays the economic activities that capture
these energies need a subsidy from
Governments.
• They are not cheap in monetary terms, but they
promote a more sustainable economy.

8. profit
• The amount of money resulting from deducting costs
of production of an economic activity from the
income accrued from selling godos or services
provided:
income-costs= profit
Fashion chain Zara helps Inditex lift first
quarter profits by 30%
Inditex, the Spanish clothing retailer, has
increased sales and made its founder, Amancio
Ortega, the world's third richest man
The Guardian Friday 17 August 2012 16.36 BST
Apple Reports Fourth Quarter Results
26.9 Million iPhones Sold; Record
Fourth Quarter Revenue and Profit
The Company posted quarterly
revenue of $36.0 billion and quarterly
net profit of $8.2 billion,

9. Capital… what is it?
financial
physical
human
Which capital is the sign of a developed economy?