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economic systems $$$, economic sectors - Coggle Diagram
economic systems $$$
Command
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The citizens have very little freedom, they cannot own private business and all the money that they make are taken by the government
The government controls all sources of wealth, citizens have little or no financial freedom.
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market
Can easily end up with a monopoly, one company becomes huge and dominates the others. Also, because people have their own business, people are more interested in money, so less attention is paid to saving the environment, social services, etc.
The government makes sure the economy works properly, consumers and producers make their own choices. (freedom)
When businesses are in competition, they compete and prices come down for customers. And is able to attract a lot of customers, the prices are so low.
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mixed
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Little socialism and market economy mixed together. People are free to make their own choice, but the government helps to regulate and encourage businesses - some government control.
The government can make regulations to help protect many things, including the environment, workers, and consumers.
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economic sectors
tertiary
Description: They take the items that are made by the people in the secondary sector, put them in stores, and sell them.
Example: Structube - A large furniture company that are in America and Canada, and are supplied by Solid wood company.
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Development: These are jobs that are common in developed countries, and such as Canada and America
quaternary
Description: These people take the finished items for sale, and try to improve and make it into a better product, eliminating any problems and making a premium product.
Example: Superior wood - a company that makes enhanced wood, which is a solid wood layer at the surface, and 3 engineered wood sawn lamella layers. This design minimizes contraction and expansion, which eliminates warping of normal hardwood flooring.
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Development: These jobs are rare even in very well developed countries, such as Canada and France
secondary sector
description: These people make items that people use from the materials that the primary sector provide
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Development: These jobs - manufacturing are very common in medium development countries, such as China and Vietnam.
primary sector
description: these people find the core materials, the source for many industries around the world.
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