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Economies by Mind Map: Economies

1. Mixed

1.1. Industries

1.1.1. Gross Domestic Product International Business Consumer Government

1.1.2. Agricultural New node

1.1.3. Service New node

1.1.4. Industrial

1.1.5. Information

1.2. A combination of a market and command economy

1.3. Most nations have this type of economy

1.4. Government

1.4.1. People's needs National defense & education

1.5. Marketplace

1.5.1. Some Government Regulations

1.5.2. People's wants Cars, computers, fastfood

2. Command

2.1. A central authority makes the key economic decisions

2.1.1. New node

2.2. Usually the government or state

2.3. Communism

2.3.1. State makes all the economic decisions

2.3.2. New node

2.4. Socialism

2.4.1. Some form of private enterprise New node

2.4.2. State owns major resources while the rest of the economy is contolled by other owners

2.4.3. France and Switzerland

2.5. Equal standard of living

2.6. State provides you with a a job, a place to live, and health care

2.7. State provides you with utilities, transportation and defense

3. Market

3.1. economic decisions are made in the marketplace according to laws of supply and demand

3.2. Hair Salons, Stock Exchange

3.3. Demand

3.3.1. the amount or quantity of goods and services that consumers are willing to buy at various prices

3.4. Supply

3.4.1. the amount of goods and services that producers will provide at various prices

3.5. Equilibrium Price

3.5.1. When the quantity demanded and quantity supplied meet

4. Economic Indicators

4.1. GDP

4.2. Employment Rate

4.3. Inflation/ Deflation Rate

4.4. National Debt