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Economic Systems (Market Systems (Cons: Because of profit is the single…
Economic Systems
Market Systems
Cons: Because of profit is the single driving motive of business, they usually don't take care of the environment or increase services
Description: In a market economy, producers and consumers make all the economic decisions.
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Command Systems
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Description: In a command economy, the government owns all the resources and services and makes all the economic decisions
Mixed Systems
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Pros:The government can make adjustments to protect the environment, workers, and the consumers
Description: In a mixed economy, people are able to make many decisions. The government makes a few decisions to improve people's quality of life
Sectors of an economy, textbook, page 178
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