Economic Systems

Front

What are the three basic questions that every economic system must answer?

Back

What's produced, how it's produced & who consumes it

Front

The former Soviet Union was an example of what kind of economic system?

Back

Command

Front

Which economic system allows for the most individual freedom? Options: Traditional, Command, Market, Mixed

Back

Market

Front

What are the three economic systems?

Back

Traditional, Command, Market

Front

In which economic system does the government have the most control? Options: Traditional, Command, Market, Mixed

Back

Command

Front

In which economic system do individuals do things based on customs & beliefs?

Back

Traditional

Front

What is the economic system of most communist countries?

Back

Command

Front

How do traditional economies exchange goods?

Back

Bartering

Front

Which country is closest to a true market economy? Options: United States, England, Australia, Nigeria

Back

Australia

Front

Most democratic countries have which type of economic system?

Back

Mixed