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Economic Systems, economic sectors - Coggle Diagram
Economic Systems
Market/Capitalism
Disadvantages: Profit and money is the only concern of capitalism so the government doesn't take interest in protecting the environment or the average individual / consumer.
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Advantages: When there is a lot of businesses that compete for the same market they need low prices to get more sales so in the long term they get more money and attract more clients.
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Command/Socialism
Disadvantages: Government decisions don't always suit and benefit the individual even if it seems good on paper.
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Advantages: The government has more room to focus on national developments to make people's lives inevitably easier.
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Mixed
Disadvantages: the government sometimes fails to encourage business and fails to keep the environment and civilians safe and happy.
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Advantages: The government can put up regulations and guidelines to protect the environment, workers, and civilians.
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