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Graded! Economic Systems image Group: EThan.B P.4 - Coggle Diagram

- - - - Examples
        
        Amazon
        
        Farmer's Market
      - Advantages/Disadvantages
        
        Advantages:
        
        No enforced transaction of goods over the people
        
        Zero regulations on entrepreneurs and businesses.
        
        Disadvantages:
        
        Ability for Monopolies to form
        
        Allows businesses free rein to charge any amount for any item they sell
      - Links
        
        https://www.investopedia.com/ask/answers/040915/what-are-some-examples-free-market-economies.asp
- - - - Examples
        
        Hunting
        
        Fishing
      - Advantages/Disadvantages
        
        Advantages:
        
        Zero wastage of goods within the nation
        
        Maintains native traditions and customs
        
        Disadvantages:
        
        Forced isolation of the nation
        
        Can be overwhelmed by another nation of a stronger economy
      - Links
        
        https://www.wallstreetmojo.com/traditional-economy/
- - - - Examples
        
        China
        
        United States
      - Advantages + Disadvantages
        
        Advantages
        
        Increased Efficiency
        
        Allows Govt to prioritize via its economic policies
        
        Disadvantages
        
        Potential to succumb to interests of businesses over govt
        
        High taxes
      - ( Links ) https://www.investopedia.com/terms/m/mixed-economic-system.asp
- - - - Cuba
      - The Soviet Union
    - - Advantages: - Low levels of inequality - Common Objective of returning profits compared to expenses
      - Disadvantages: - Lack of Competition - Lack of Innovation