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Economic Systems, Economic Sectors - Coggle Diagram
Economic Systems
Market/Capitalism
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Advantages: Many different businesses compete for the same market and tend to keep prices down to attract customers.
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Picture:
Command/Socailism
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Picture:
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Mixed
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Advantages: The government can make decisions to protect the environment, consumers, and producers.
Decision Making: The producers, consumers, and the government.
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Economic Sectors
Secondary/Manufacturing
An industry that uses natural resources to make consumer products, such as packaging for food
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Tertiary/Services
An industry that provides services or sells goods, such as accounting or retail store.
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