Please enable JavaScript.
Coggle requires JavaScript to display documents.
Economic systems, Economic sectors - Coggle Diagram
Economic systems
Command
advantages: the government can focus only on one goal to make everyone completely equal in all ways.
disadvantages: Some of the government choices are not always what the people want and could have a bad impact on citizens
Description: the government controls all sources of wealth citizens have little or no financial freedom
pic 
-
Market
advantages: people can control their money or business anyway they want and the government cannot interfere.
disadvantages: while the government focuses on businesses they tend to lose focus about taking care of the environment.
description: producers decide what to sell and consumers decide how much money they can have and how much they can spend it.
-
Pic
Mixed
-
Description: In a mixed economy, individuals and businesses are free to make their own decisions. However, the government is also allowed to make decisions for businesses.
-
Decisions are made by the government, consumers, and businesses.
-
Economic sectors
Tertiary
-
-
Picture:
-
Quaternary
-
-
Picture:
-
Primary
-
-
Picture
-
secondary
-
-
Picture:
-