Based on individual choice and voluntary trade
Characteristics of Economic Systems

Flashcard
•
Social Studies
•
6th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
Back
Market
2.
FLASHCARD QUESTION
Front
Encourages competition between businesses
Back
Market
3.
FLASHCARD QUESTION
Front
Customs have been passed down through generations
Back
Traditional
4.
FLASHCARD QUESTION
Front
Government leaders answer the three basic economic questions.
Back
Command
5.
FLASHCARD QUESTION
Front
Bartering (Trading) for goods replaces the need for currency (money)
Back
Traditional
6.
FLASHCARD QUESTION
Front
Businesses are privately owned by the people. What type of economy does this describe?
Back
Market
7.
FLASHCARD QUESTION
Front
Social roles and customs determine how goods are made, sold, and bought. What type of economy does this describe? Options: Command, Market, Traditional, Democracy
Back
Traditional
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