Mexico Cuba Brazil

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Multiple Choice

In a market economy, prices are determined by supply and demand, while in a command economy, prices are set by the government.

• True

• False

Fill in the Blank

Can you give an example of a country with a market economy?

Multiple Choice

What role does the government play in a command economy?

• The government has no involvement in the economy
• The government controls all aspects of the economy, including production, pricing, and resource allocation.
• The government only controls resource allocation
• The government only sets prices in the economy

Multiple Choice

How does a mixed economy combine elements of both market and command systems?

• By completely eliminating private ownership and market forces
• By allowing for private ownership and market forces to operate while also having government intervention and regulation.
• By having government intervention only without any private ownership
• By allowing for private ownership without any government intervention

Multiple Choice

Which economic system do you think provides more freedom for individuals and businesses? Why?

• Socialist economy
• Market economy

• Planned economy
• Command economy

Multiple Choice

How might the economic systems of Mexico, Cuba, and Brazil affect the daily lives of people living in these countries?

• The economic systems have no impact on daily lives
• People in these countries have unlimited access to resources regardless of the economic system
• The economic systems only affect the government, not the citizens
• The economic systems can impact aspects like income distribution, access to goods and services, employment opportunities, and overall quality of life.

Fill in the Blank

Exit Ticket: How do you feel about our lesson today? Please rate this lesson 1-5. 1-I don't understand to 5 I completely understand.

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