Integration of Products into the Four Stages of Economic Activities

Integration of Products into the Four Stages of Economic Activities
Name
Institution
Date
Integration of Products into the Four Stages of Economic Activities
Introduction
This analysis seeks to examine how the economic activities are spatially related to the Liter Robot project. As stated in part 1, Liter-Robot is an automatic cat litter box with sensors used to clean the box once the cat has finished using it while still tracking the urine output when the data is sent to a phone. Besides, the other project was the "Paw Perfect," involving an automated nail trimmer of a dog that uses stead of cutting it files the nails to make the nails smoother, thus cause less stress on the pup. According to Shtefan et al. (2017), Economic Integration is an arrangement of a product that includes eliminating or reducing the existing trade barriers and coordinates the various financial policies. The economic integration seeks to reduce the incurred cost as the producer, thus increase the amount of trade involved in the agreement. Economic integration is categorized into five levels: free trade, economic union, shared market, customs union, and political union. Once the flat of economic integration escalates, the regulations' complexities also increase attributed to various hard regulations and cost complexities.
Primary Activities
These economic activities affect the new spatially related and linked to the Capstone Project Part 1 "Litter-Robot" and "Paw Perfect." These include interest rates, government activities, wages, policies, laws, and tax rates. These economic activities are tied directly to the extraction of resources used in manufacturing the product. These are the economic activities that happen at the start of the production cycle where those involved with the resources used (Shtefan et al., 2017). The primary activities include the production of the commodity from raw materials. These factors affect the Capstone project since they are connected with the product and influence and affect or drive the business like cost and labor, an economic factor that affects the economy. One of the best options will be to reduce the cost of labor by working alone. Another factor affecting the product is the Interest rate, one of the factors affecting cash liquidity in the economy, assuming that one expects a high rate of return to drive more business, thus generate the maximum amount of return. Therefore, one of the best strategies is to acquire and seek a government tax remedy that encourages entrepreneurship.
Secondary Activities
These are the activities that add value to the raw materials used in the product, like changing the form and combining them into useful and thus becoming a valuable commodity. For instance, the Liter-Robot and Paw-Robot shall not become useful without using steel and metal combined with minerals (Zhao, 2018). Essentially, this is the phase of production. Industries that manufacture valuable items and useful goods from the primary production activities like mining, fishing, forestry, agriculture referred to...