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ECONOMIC SYSTEMS - Coggle Diagram
ECONOMIC SYSTEMS
Capitalism and the free market system 
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Tradition-based economic systems
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in feudal Europe, artisans formed guilds
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The mixed economy system
the aim is to avoid both the negative effects of the unequal distribution of wealth in a free market and the lack of efficiency that characterises authority-based systems
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Authority: the central planning system
the aim is to achieve greater social equality and prevent the injustices caused by the unequal distribution of wealth
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