Economic Systems

Front

What type of economy is represented by Sam learning how to make clay bricks like his father and grandfather? Options: Free Market, Traditional, Mixed, Command

Back

Traditional

Front

What type of economic system is represented by Katia's government-run business? Options: Command, Traditional, Free Market, Mixed

Back

Command

Front

Ted is working towards his dream of becoming a lawyer by working at a law firm as a legal clerk. What type of economy does this scenario best represent? Options: Free Market, Traditional, Command

Back

Free Market

Front

In which economic system does the government decide jobs for individuals, as in Sarah's case who wants to become a doctor?

Back

Command

Front

What type of economic system does a private company that follows government rules for public safety operate under? Options: Free Market, Command, Mixed, Traditional

Back

Mixed

Front

Who or what answers the basic economic questions in a mixed economy?

Back

Individuals, Businesses, and Government

Front

Who or what answers the basic economic questions in a traditional economy? Options: Individuals and Businesses, Government, Custom, Individuals, Businesses, and Government

Back

Custom

Front

What type of economy do most countries in the world have? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? What goods and services will be produced?, Who is responsible for producing goods and services?, How will goods and services be distributed to customers?

Back

What is the price of the goods?

Front

When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ___ question.

Back

how