Economic Systems

Front

What economy is made up of customs, beliefs, religion (farming, ways of the past, ancestors, etc)?

Back

traditional

Front

In what type of economy does the government have control of everything?

Back

command

Front

What type of economy is based on supply and demand? Businesses/private citizens have control over what they sell/buy and who they sell to.

Back

market

Front

All democratic countries have this type of economy. Hint: USA has this type of economy.

Back

mixed

Front

Communist countries like the former Soviet Union, former East Germany and Cuba had which system of economy?

Back

command

Front

Fidel Castro, former leader of Cuba, had control over all of the businesses in Cuba. Communist countries like Cuba have this type of economy?

Back

command

Front

A group of people that pass down traditions and are hunters and gatherers have what type of economy?

Back

traditional

Front

Which place is the closest to a pure command economy? Options: Australia, Germany, United Kingdom, Cuba

Back

Cuba

Front

Which place is closest to a pure market economy? Options: Cuba, Russia, Australia, U.S.A.

Back

Australia

Front

A market economy is good to have because the government has total control.

Back

False