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Economic system's, Economic sectors, Quaternary sector - Coggle Diagram
Economic system's
Command system
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description Citisinz in this country have very little economic freedom and the government owns all the economic resources and sources of wealth. Cuba, North Korea
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Market system
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Advantages when many businesses compete for the same market, they tend to keep prices down to attract customers
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Disadvantages because profit is the single driving motive of business they generally avoid taking measures to protect the environment or increase social services
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Mixed system
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Advantages the government can make regulations to protect the environment, workers and customers.
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Disadvantages Sometimes the government strikes the wrong balance. It may either fail to encourage businesses or fail to protect the people
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Economic sectors
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Description: This is the knowledge economy, data, teach and software
Tertiary Description: sales, service
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