Economic systems - G10

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market, Traditional, Command, Combined, & Market, Communism, Capitalism, Free Market, and Macroeconomics, Microeconomics, Macroeconomics, Individual, and Traditional.

Back

Traditional, Command, Mixed, & Market

Front

What type of economy do most countries in the world have? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.

Back

Command

Front

In this type of economy, the individual decides who to sell their products to. Options: Traditional, Mixed, Market, Command

Back

Market

Front

I am a farmer in Africa, and have always traded for my goods. I have a _____ economy.

Back

Traditional

Front

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce? Options: Market, Mixed, Command, Traditional

Back

Command

Front

A _____________ economy is completely determined and controlled by a central planning authority or the government.

Back

Planned/Command

Front

_______ is another word for Market Economy.

Back

Capitalism

Front

In which economic system do individuals do things based on customs & beliefs? Options: Command, Market, Mixed, Traditional

Back

Traditional

Front

How do traditional economies exchange goods?

Back

bartering