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Economic Systems, Economic sectors - Coggle Diagram
Economic Systems
Command/socialism
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Advantage: The government can focus all of its recourses on one goal, such as china's push to increase economic development
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Mixed
Disadvantage: There is little to no interaction with other people. Somme groups have a lower quality of life because of little healthcare and poor nutricion
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Market/Capitalism
disadvantage:There is a disentangle to this, and it is because, the single driving motive of business is profit. They generally avoid taking risks to protect the environment increase social services
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Advantage:The advantage is the amount of business competing for the same market tend to keep prices down to attract consumers
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