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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Mixed System
Control: Businesses, Consumers, Governemnt
Picture: Shade E E's Business Model
Description: Government controls general rules business owners control specific rules. Canada and France
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Command System
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Description: In Command Economies the government owns all systems of generating wealth. The people have no economic freedom.
Cuba and North Korea
Disadvantage: Because the government is so disconnected from the citizens, their decisions may cause famine.
Control: Government, frequently dictator
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Market System
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Disadvantage: Greed drives businesses and long term thinking is all about money and not about the environment. Rich exploit poor.
Description: In a market economy the citizens are most free and given the most choices in terms of finance because there are many and a variety of producers.
Control: Little government control , Producers and consumers make decisions (citizens)
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Economic Sectors
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Primary: Agriculture, Aquaculture, Natural Resources
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Development: Low development, Niger, Afghanistan
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Quatemary: Ideas, knowledge, software, research, data
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Secondary: Manufacturing
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Development: Mid Development, China, India, Vietnam