what is globalisation?
globalisation describes how trade and technology connect the world, making it more interdependent
What are producers and consumers?
Producers create goods and services, while consumers use them.
What are the three stages of the manufacturing system?
Inputs (raw materials), processes (manufacturing, assembly), outputs (final products).
What are the three economic sectors?
Primary (raw materials), Secondary (manufacturing), tertiary (services)
What are consumers?
everyoe who buys goods and services
Who are the producers?
people or businesses that create goods and services for consumer demand