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THE ECONOMIC SYSTEMS IN THE WORLD - Coggle Diagram
THE ECONOMIC SYSTEMS IN THE WORLD
The ways in which a country produces, organises, distributes and administers its material
The current systems
Three economic system
Capitalist or market economy
Free market economy
Private property means of production
Freedom to work and hire
State intervention on samll scale
Mixed economy
Intervenition The State
Establishing laws
Regulation certain prices
Providing for the social well-being of its citizen
Communist or planned economy
Planned economy and centralised by the State
Production process controlled
State owner of the means of production
Private property and initiative not exist
Objetive: archieve collective benefit through policies decided upon by the State
Subsistence economy
Based on production for self-consumption in the poorest and most isolated areas in the world
No separation of work
Any economic or social development
Market economy
Variation
Private initiative and economic globalisation
Led to the ceration of large national and multinational companies
Global market controlled by companies called multinational
Human resources, and the economic goods that these generat, in order to provide for a high level of well-being
