Please enable JavaScript.
Coggle requires JavaScript to display documents.
Economic Systems, Page 176 in Text, Daniel Kloepfer. (Command (Cons, the…
Economic Systems, Page 176 in Text, Daniel Kloepfer.
Command
Cons, the decisions that are made are not always in the citizens advantage. Around 1 millions people ended up
dying of starvation because the government wouldn't accept food from other countries.
-
Pros, the government can focus all of there resources on to one goal. For example, China's push to increase the economic development.
Description, the command of economy of the government controls all resources, goods and services. They as well make all of the economic decisions. Citizens have very little economic freedom.
Mixed
Pros, the government has the power to make regulations to protect the government and make it the best they can.
Cons, sometimes there is a time that the government decides to do something and it is the wrong balance.
Description, in this mixed economy, individuals and businesses are free to make many of there own decisions. Although the government makes some of there decisions.
-
Market
Pros, When there are many different businesses compete and go for the same market, they tend to keep prices down to attract more costumers.
Cons, the disadvantage is that the main thing to a business is profit. The usually avoid measures to protect the government.
Description, in market economy, producers and consumers make all of the economic decisions. The producers decide and tell them what is good.
-
State Run Capitalism. What is State Run capitalism? State run Capitalism means that the government owns and operates large companies to generate profit and to make themselves very very very wealthy.
Pros, make economic improvement and growth very fast and very effective. China has improved the quality of life to over 300 million people in just 30 years.
Cons, lack of rights of freedom of speech, lack of democracy.
Picture 
Secondary
Made to Metal
:
-
-
-