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Mind Map Of The Economic Systems - Coggle Diagram
Mind Map Of The Economic Systems
Capitalism
Private Owner Ship, Profit Driven
Pros: people can make money, new ideas grow fast
Cons: rich get richer, economy is unstable
Marxism
Class Struggle, Workers rights
Pro: Tries to make things fair, help workers
Cons: Workers protest unfair rules, people will fight for money
Communism
Classless Society, shared wealth
Pros: everyone is equal, everyone shares
Cons: government comtrols a lot, and less freedom
Socialism
Public ownership, equal sharing
Pros: helps poor people, free school and hospitals
Cons: taxes are high, government can be slow
