Intro to Economic Systems Vocab

Front

4 economic systems:

Back

Traditional, Command, Market, & Mixed

Front

Economic system that produces what is needed to survive without money.

Back

Traditional Economy

Front

Economic system where all decisions are made by the government.

Back

Command Economy

Front

Economic system controlled by people, supply, and demand; no government control.

Back

Market Economy

Front

Economic system combining Command and Market?

Back

Mixed Economy

Front

In a __________ economy, they produce what they need to survive.

Back

Traditional

Front

In a __________ economy, the government controls everything.

Back

Command

Front

In a _________________ economy, supply and demand control the economy without government intervention.

Back

Market

Front

A __________ economy is a mix of Command and Market economies.

Back

Mixed

Front

Economy controlled mostly by government?

Back

Cuba