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Economic systems in the world - Coggle Diagram
Economic systems in the world
Definitions
Economic systems
the ways in which a countries produce, organises, distributes and administers its materials
The current systems
Capitals or market economy
Free market economy
Supply and demand
State intervention on a small scale
Communist or planned economy
Planed and centralised by the state
Private property and initiative do not exist
Subsistence economy
System based on production
There is not separation of work or mechanisation
Market economy
The most widespread of the different types
Through private initiative and economic globalisation
A large part of the global market is controlled by companies called multinationals
Multinational companies
Samsung
Apple
Mercedes
Audi