Southeast Asia Economic Systems

Front

What are the three economic questions that every country must answer when developing an economic plan?

Back

What goods/services will be produced?
How will goods/services be produced?
Who will consume the goods/services?

Front

What are the four types of economic systems?

Back

Market, Command, Mixed, and Traditional

Front

What is one aspect of a Command Economy when answering the three economic questions?

Back

Strict government control

Front

In a command economy, the government regulates all of the country's economic decisions by determining these.

Back

Prices of goods, wages of workers, and what goods will be made

Front

What event is an example of an attempt to create a pure command economy? Options: The Long Salt March to the Sea, China's Long March, China's Great Leap Forward, China's Cultural Revolution

Back

China's Great Leap Forward

Front

Which country has had a PURE COMMAND economy?

Back

No one

Front

A command economy is a very harsh system to live under and because of this. . . .

Back

there are no PURE command economies that exist today

Front

Since there are NO PURE command economies in the world, there are some countries that are close. Those countries are? Cuba, Former Soviet Union, North Korea, and former East Germany.

Back

Cuba, Former Soviet Union, North Korea, and former East Germany.

Front

All the countries mentioned as being very close to a command economy had or still has what type of government?

Back

Communist

Front

In a pure Command economy, the government is in control of what?

Back

everything