Australia's Economic Systems Flashcardizz

Front

What are the 4 economic systems? Options: Traditional, Command, Market, & Mixed

Back

Traditional, Command, Market, & Mixed

Front

What economic system produces what they need to survive and do NOT use money?

Back

Traditional Economy

Front

In what economic system are all decisions made by the government?

Back

Command Economy

Front

What economic system is controlled by people, supply, and demand? NO GOVERNMENT CONTROL

Back

Market Economy

Front

What economic system is a mixture of pure Command and pure Market?

Back

Mixed Economy

Front

In a ______________________ economy they Produce WHAT THEY NEED to survive.

Back

Traditional

Front

In a __________________ economy the government controls everything.

Back

Command

Front

In a _________________ economy supply and demand control the economy. No government control.

Back

Market

Front

A _____________________ economy is a MIXTURE of a pure Command economy and a pure Market economy.

Back

Mixed

Front

Which of these countries appears to have an economy that is controlled mostly by the government? Cuba, Australia

Back

Cuba