
Introduction: Exploring Economic Systems
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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71 questions
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1.
FLASHCARD QUESTION
Front
The main types of economic systems are: Traditional, Command, Market, Mixed
Back
Traditional, Command, Market, Mixed
2.
FLASHCARD QUESTION
Front
Economic systems shape societies by:
Back
Determining how resources are allocated and distributed
3.
FLASHCARD QUESTION
Front
The key components of a Traditional economic system are:
Back
Customs, traditions, and beliefs
4.
FLASHCARD QUESTION
Front
The key components of a Market economic system are:
Back
private property, voluntary exchange, competition, and limited government intervention
5.
FLASHCARD QUESTION
Front
Identify the key components of a Command economic system.
Back
Centralized government control, planned production, and allocation of resources
6.
FLASHCARD QUESTION
Front
The key components of a Mixed economic system are:
Back
Both private and public sector involvement
7.
FLASHCARD QUESTION
Front
According to the diagram, which economic system is associated with pure planned economy? Options: Communism, Capitalism, Socialism, Market Economy
Back
Communism
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