Economic Coggle Branches: 100%
A Coggle Diagram about Factors of Production
(Human Capital- All the talents, skills, knowledge a person has
, Capital Resources- Goods that make other goods or services
, Natural Resources- Resources from the earth
and Entrepreneur- Create a product or own a business
), Trade Barriers are things that hinder or get in the way of trade
, Gross Domestic Production- Total amount of final goods and services produced in one year within a country Gross- All of something Domestic- within a country
Economics-The Study of the making, buying, and selling of goods or services.
, Economic Systems
How to Produce- people grow and make things the same way that their ancestors did.
Traditional Economy What to Produce- people follow their customs and make what their ancestors made
For whom to produce- people in the village who need them.
) and Germany, The United Kingdom, and Russia are all mixed governments. However, Russia is still more a Command Economy even after the fall of The Soviet Union. Germany and The United Kingdom are in the middle of a Market Economy and a Command Economy.