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The economic systems in the world - Coggle Diagram
The economic systems in the world
Economic system
The way a country
organises
its materials and human resources
distributes
produces
administers
The current systems
Communism (planned economy)
The economy is completely planned by the state
Subsistence economy
Capitalism (market economy)
Based in the law of supply and demand
freedom to work and hire
means of production
State intervention at low scale
private property
A variation: mixed economy
Bigger intervention of the State