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Front

Which of the following is NOT one of the three economic questions that determine the type of economic system a country uses?
When to produce?
For whom to produce?
What to produce?
How to produce?

Back

When to produce?

Front

What types of economies do most modern countries have?

Back

mixed

Front

Which is the best description of a mixed economy? A blend of command and market economies, Protects private property, Limited government to achieve various goals, All of the above

Back

All of the above

Front

Which is the best definition of an economic continuum?

Back

A scale from 0-100 that ranks economies

Front

Which is the best description of a command economy?

Back

The government makes all the decisions

Front

Which is the best description of a market economy? Options: It’s based on supply, It’s based on demand, It’s based on government control, It’s based on supply and demand

Back

It’s based on supply and demand

Front

In Saudi Arabia the government controls most of the oil industry, this a ___________ economic element.

Back

command

Front

Daniel owns a company that makes technology, he can decide what and how to produce the technology. This is a ___________ economic element.

Back

market

Front

What type of economy is represented by the situation where the government limits car production in an automobile factory in Turkey? Options: traditional economy, command economy, market economy, mixed economy

Back

mixed economy