The Spooky Truth About Economic Systems

• ​More advanced & wealth country $$$$$$$

• ​Advanced service sector (Ex. Tech firms)

• ​High standard of living (Ex. flushing toilets, public school)

• ​Less wealthy--> Less industry

• ​Lower standard of living

• ​Focus on agriculture and manufacturing (ex. Fishing, textile factories)

• ​Large-scale farming

• ​Use of large machinery.

• Owned by a company (usually)

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• ​Small-family controlled farms.

• Many different crops for personal consumption.

• ​Sell at local market (sometimes)

• ​Most work done by hand.

• ​Large-scale factory owned by companies.

• ​Use of machinery.

• Assembly lines/mass production

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• ​small-scale operation

• ​Done in the home.

• ​Worker creates the product from start to finish.

• ​For example: crafter, self-employed