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The Economic Systems in the World - Coggle Diagram
The Economic Systems in the World
Subsistence economy
This consists on each person produces his goods
Not very common
In some tribes of africa or places with very low population
Capitalism
Free market economy ( Supply and Demand)
There is private property
Freedom to work
The state doesn't intervent unless it is very important
Communism
No diferences
Every body has the same
No freedom
Private property or initiative don't exist
Partially disappeared since the URSS was broken
Market economy
The most widespread
E.E.U.U is the main model
Some places from the E.U. have variations
It has created multinationals or large national companies with private initiative or globalisation