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Basic Concepts - Coggle Diagram
Basic Concepts
Marxism
Comunism
Government = Market
Directly
No private property
No selfdetermination
Socialism
Market has a plan
made by the government
Indirectly
No invest
Price
Objective. Ruled by demand and supply.
Market
Place where goods and services are sold
Demand
Willingness of consumer to buy
Supply
Willingness of a producer to sell in certain price
GDP
Total production in a given time in final price
Quantity not quality
Doesn't consider cost of production, just the rice
SPI
Measures the life quality
Poverty
Not being able to access a need
Capitalism
Free Market
Failures
Monopolies
Externalieties
Oligopolies
Selfdetermination
Fair
Trade
Established fair price in some products for farmers
Deflation
Money gains value
Inflation
Money loses value
Equilibrium
price
Established price where the demand function equals the supply function