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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Mixed System
Disadvantages: The government might make some wrong decisions that may fail to encourage businesses or to protect the people
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Description: Consumers and producers can make lots of their own economic decision, but the government also makes some economic decisions in order to improve the quality of life and the environment
Advantages: Government can make decisions the protects the environment, workers and buyers
Command System
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Market System
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Description: Consumers and producers decide what to buy and sell and make their own economic decision. Government usually doesn't interfere with the economics
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Economic Sectors
Secondary: Manufacturing
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Quaternary: idea, knowledge, software, data, research
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Primary: Natural Resources, Raw Materials
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