Chapter 4 Test

Front

Government makes all economic decisions

Back

Command Economy

Front

Economic system for profit based on supply and demand

Back

Market Economy

Front

Main motive for increasing work efforts in a market economy

Back

Profits

Front

Economic system known as "capitalist"

Back

Market Economy

Front

Resource distribution in a traditional economy

Back

Based on inheritance

Front

Economic system combining market and command elements

Back

Mixed Economy

Front

Command economy price setter

Back

The government

Front

Role of government in a pure market economy

Back

Does not intervene

Front

Economic system centered on family, tribe, or ethnic group

Back

Traditional Economy

Front

Economic decision-making in a mixed economy

Back

Government and individuals