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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Mixed
Disadvantages: The government sometimes makes the wrong call. It may either fail to encourage business or fail to protect the people
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Advantages: The government can make regulations to protect the environment workers, and the consumer
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Marker/Capitalisms
Disadvantages: The economy only cares about business, so environmental and social service care will not be treated as much.
Decisions: The government does not judge the moves the consumer and producer make that often. The government does not step in their way.
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Command/Socialism
Disadvantages: The government has full control over economy, so that means not all citizens will agree to its decision
Decisions: All decisions are made by the government, usually a dictator
Advantages: The government can make regulations to protect the environment workers, and the consumer Government has all control so can focus on a single goal.
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