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economic systems - Coggle Diagram

- - - - Consumer demand and producer supply
      - If a company thinks they can make a profit a creating a product they do it.
      - If you think the price for a product is fair you buy it.
  - - - USA
      - Singapore
      - Taiwan
- - - - Producers consumers gov makes rules to protect workers minimum wage health care try to protect environment
  - - - Canada lean market
  - - - They might make a rule to protect people that might to work and things end up costing more.
  - - - Government can make changes to protect things like the air and water.
        You are still free to make choices about your money as long as you pay your taxes.
- - - - Government is involved in most economic decisions.
  - - - Norway socialism
        
        North Korea communism
        
        Cuba communism
  - - - There is a social safety net to catch you $$$ if things go bad.
        
        So if the government has a specific goal they can use tax money to get it done quick.
        
        Tries to create economic equality
  - - - Citizens pay high tax!!!
        Citizens have less control on influence over the system