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Economic Systems - Coggle Diagram
Economic Systems
Command/Socialism
Disadvantages
Example: The government in North Korea decided to put more people to work as farmers and to stop importing rice. Drought kills rice crop - people starve
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Mixed
Disadvantages
Wrong balance, encouragement levels are low.
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Because of rent control, there is not enough rental housing in Ontario
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Advantages
Government makes sure everything runs smoothy like environment, company, and consumer
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Market/Capitalism
Disadvantages
Cause of competition they load tons of items and don’t care about environment and greed, social services (healthcare), less protection for workers.
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