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Economic Systems - Coggle Diagram
Economic Systems
Mixed
Example countries France, Canada
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Market
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Example Country's Taiwan, United States and the UK
Disadvantages
primary motivation Is making profit- usually not concerned with workers rights, and the environment.
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Command
Disadvantage
- Very high taxes, lots of government manipulating the economy
- In some cases gov neglects citizens and there can be much poverty
Economic Decision making
One central authority, one person sometimes, Kim Jong Un
Example country,
Cuba, North Korea, and Venezuela
Advantage, Governments can utilize all their resources, pushing towards one goal with large amounts of efficiency.
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