Economic Systems $
Command
Market
Mixed
advantages: Government can focus all efforts on a single goal
disadvantages: Gov tells citizens what to do finically, even its against the people's best interest.
description: The government controls all sources of wealth. citizens have little or no financial freedom.
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Decisions are made by the Government
dis: When profit is your only motive, people get greedy, so the environment is not protected, less powerful people tend get exploited by the system. Those in positions of power and wealth , will do their best to stay.
description: Consumers and producers are most important, government does not interfere in issues of money. Profit is the main motivation in all decisions
ads: Business compete with each other so prices for consumers tend to be better.
Decisions are made by producers and consumers/supply and demand/ Profit.
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dis: taxes, sometimes when the government is trying to intervene they get it wrong.
Ad: gov can make laws to protect things like environment or to minimize inequality
Decisions: business, people consumer, government
Description: Individuals and business are free to most most decisions, but they have to follow some government rules designed to maintain equality or to protect the environment. Eliminate single use plastic, carbon tax,
Economic Sectors
Primary
Secondary
Tertiary
Quaternary
Description: Raw materials, natural resources
Your Example: Potato farmer, Idaho, PEI
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Development: these types of jobs tend to be most dominant in Low Development Countries
Example: French Fries McCain
Example: McD
Example
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