Exploring Types of Economies

Front

Goods are produced by families or communities

Back

Traditional Economy

Front

North Korea is a real-life example of a _____ economy

Back

Command Economy

Front

AKA Free enterprise

Back

Market economy

Front

This economic system has elements from different economic systems

Back

Mixed Economy

Front

Which country is an example of a mixed economy?

Back

Canada

Front

The government owns the factors of production

Back

Command Economy

Front

Which type of economy is most associated with hunter-gatherer methods?

Back

Traditional economy

Front

Prices are determined by supply and demand

Back

Market Economy

Front

Bartering and self-sufficiency

Back

Traditional Economy

Front

Which economy type allows for both state-owned and privately owned land?

Back

Mixed economy