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THE ECONOMIC SYSTEM IN TEH WORLD - Coggle Diagram
THE ECONOMIC SYSTEM IN TEH WORLD
Economic systems are the ways in which a country produces, organises, distributes and administers its material and human resources, and the economic goods that these generate, in order to provide for a high level of well-being
THE CURRENT SYSTEM
Capitalist or market economy
This is based on a free market economy, private property means of production, freedom to work and hire, and State intervention on a small scale
Its one owns annd control its things, like, house, car...
Communist or planned economy
Its objective is to achieve collective benefit through policies decided upon by the State
The State own all
Current economic blocks across the world
The Asian tigers
South Korea, Taiwan, Hong Kong and Singapore
Tiger Cub Economies
Vietnam, Indonesia, Malaysia, the Philippines and Thailand
Organisation of Petroleum Exporting Countries
Countries with petroleum
Saudi Arabia is the largest producer in the world
Wolrd economic leaders
United States, the Eurpean Union and Japan
Brics
Made up by emerging countries
Brazil, Russia, India, China and South Africa
MARKET SYSTEM
The market economy, through private initiative and economic globalisation, has led to the creation of large national and multinational companie
United States is the main model
Nowadays, a large part of the world is controlled multinacionals companies
Like Coca Cola, Microsoft, Apple, Repsol, Movistar and Volkswagen