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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Mixed System
Decisions: Government, Citizens
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Description: Citizens in these countries are free to make decisions for themselves. However, the government still forces some decisions onto people. For example the government can set rules that people have to follow. Canada, France
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Command System
Decisions; Government, Dictator
Advantages: The government can use all their money to focus on one goal. For example China is currently using all their money for economic development
Description: Citizens in these countries have very little economic freedom. The Government owns all economic resources and sources of wealth. Cuba, North Korea
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Market System
Decisions; Consumers, Producers, Very little by government.
Advantages: Businesses compete for the same market. Due to this they keep the price down for consumers.
Description: Consumers make economic decisions. Producers decide what to sell. Consumers choose what to buy. Government does not interfere most of the time. Government provides services to help the economy.
Disadvantages: Profit is the only driving force for businesses. They might not consider the environment or social services.
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Economic Sectors
Tertiary Sector
Description: Sales, Service
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Example: The tertiary sector receives the cloud servers. These servers then are transported into server sites and used for companies like Cloudflare. Some locations of these server sites owned by Cloudflare are.
Quaternary Sector
Description: Knowledge Economy, Data, Research, Tech, Software.
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Example: The quaternary sectors then purchases the cloud server services and use them to store information. Some companies which have purchased servers from Cloudflare include: Discord, Riot Games, Tinder, Zendesk, Curse Intergration, Hypixel and around 12 million more.
Primary Sector
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Example: The metal mining company starts mining metals. Once the metal is harvested they then deliver or sell it to the secondary sectors. Escondida Copper Mine, Chile
Secondary Sector
Description: Manufacturing, turning a raw resource into a finished product.
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Example: The metal productions company then makes the raw metal into metal plates and computer parts. They turn these parts into cloud servers. Dalian, Laioning, China.