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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Command/Socialism
Disadvanatge : Sometimes the Government don't always make the best decision, and sometimes the people might not like it.
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Mixed
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Decison : The Government have some control, and make some decision.
Advanatge : • The Government can make regulation to project the environment, worker and consumer
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Market /Capitalism
Disadvantage: Profit is the single driving motive for the businesses. Protect the environment or increase social services.
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Economic Sectors
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Quaternary: Online shopping and services, collecting data.
Example : Ikea uses the proprietary inventory system to track their data. logistics managers know what is sold through point-of-saled, which is when a buyer buy something the data would transfer into their system and so they could know what is selling good and what they need to get more in stock. The company that makes the point-of-sale machine for Ikea is Wincor Nixdorf.
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