Types of Economies

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 has central ownership and lack of individual choice?

Back

Command Economy

Front

Which type of economic system bases its decisions on custom? Options: Market Economy, Mixed Economy, Command Economy, Traditional Economy

Back

Traditional Economy

Front

Which type of economy is controlled by the government? Options: Command, Market, Mixed, Democratic

Back

Command

Front

Which type of economy is run by the businesses & business owners?

Back

Market

Front

Which type of economy is based on traditions and beliefs? Options: Command, Market, Traditional, Mixed

Back

Traditional

Front

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

Back

Traditional

Front

Which type of economy has the government making all decisions? Options: Market, Mixed, Traditional, Command

Back

Command

Front

Under a command system, who owns the factors of production?

Back

Government

Front

If the government makes me produce 70 T-Shirts, what economic system is this?

Back

Command