A type of economy where products, prices, and services are determined by the people, not the government is called the ________ system.
Economic Systems

Flashcard
•
Geography, Social Studies
•
6th - 8th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Market
2.
FLASHCARD QUESTION
Front
Things you would like to have, but are not required to survive are called ____.
Back
Wants
3.
FLASHCARD QUESTION
Front
What is the study of the way we use goods and money?
Back
Economics
4.
FLASHCARD QUESTION
Front
Someone who buys or pays for a good or service
Back
Consumer
5.
FLASHCARD QUESTION
Front
What type of economy does the United States have?
Back
Mixed
6.
FLASHCARD QUESTION
Front
In what type of economic system does the government make ALL decisions regarding the production of goods, who produces them, and who will consume them?
Back
Command Economy
7.
FLASHCARD QUESTION
Front
North Korea's 4 wireless companies are owned by the North Korean government. This is an example of the _____ economic system.
Back
Command
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