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Economics - Coggle Diagram

- - - - Because the government makes the decisions, people dont have to worry about employment, housing.
    - - consumers get low priority
      - little freedom of choice
      - all resources are owned by the government
  - - - the desire for moneymay lead to poor quality of goods and services
      - business owners have to risk losing money
  - - - Predictable
      - Knowing what you job will be.
      - Knowing the way you will live.
    - - people lack many resources
      - people only produce enough to live on
  - - - To some degree, all modern economies exhibit characteristics of both systems and are often referred to as a mixed economies.
    - - private ownership of business
      - protects citizens/workers with government regulations
      - protects environment