Quick Check Types of Economy

Front

The government controls the prices in this type of economy

Back

Command

Front

This type of economy is based on customs

Back

Traditional

Front

What is a characteristic of a market economy? Options: lack of choice, individual choice, competition, central ownership of property

Back

competition

Front

Which type of economy involves trading, and doesn't usually use money? Options: Command, Traditional, Market, Mixed

Back

Traditional

Front

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this? Options: Mixed, Traditional, Market, Command

Back

Mixed