Economic Systems

Front

This economic system is based on individual freedom.

Back

Market

Front

This economic system is controlled by the government.

Back

Command

Front

Today, most economies are: Market, Traditional, Mixed, Command

Back

Mixed

Front

In this type of economy, the government places control on businesses, but the individual decides what to make.

Back

Mixed

Front

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.

Back

Command

Front

In this type of economy, the individual decides who to sell their products to.

Back

Market

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture?
Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Traditional economy

Front

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?

Back

Traditional

Front

Where does a free market economy work best? Options: In a country with lots of government intervention, In a country where businesses make their own decisions with no government help, In a country with some regulations on businesses

Back

In a country where businesses make their own decisions with no government help

Front

An economy in which government leaders give the answers to the three economic questions: what gets produced?, how does it get produced?, who gets it when it has been produced?

Back

command economy