The government owns or controls most resources and businesses in a _____________ economic system.
Economic Systems

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Business
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9th - 12th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
Communist Command
2.
FLASHCARD QUESTION
Front
Who is most likely to own the business's land, building, and equipment in a ____________ economy? Options: Communist Command, Traditional, Market, Socialist Command
Back
Market
3.
FLASHCARD QUESTION
Front
Which type of economic system adopts the fewest new ideas or improvements? Options: Market, Socialist Command, Traditional, Command
Back
Traditional
4.
FLASHCARD QUESTION
Front
Private enterprise is an economic system in which:
Back
individuals own both major industries and consumer goods
5.
FLASHCARD QUESTION
Front
What is the main reason for going into business in a private enterprise system?
Back
the profits
6.
FLASHCARD QUESTION
Front
What makes it difficult for new firms to enter a market?
Back
Barriers to entry
7.
FLASHCARD QUESTION
Front
What type of market structure only has one seller?
Back
Monopoly
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