Chapter 2 Economic Systems

What is the United States' economy?

• Mixed
• Traditional 
• Market 
• Command 

Which economy has total control in answering the three economic questions?

• Command
• Traditional
• Mixed
• Market

What is competition?

• a rivalry between companies selling similar items

• best friends

• one company is the only one selling the item

• companies improving their stock

What country is not an example of capitalism?

• Germany

• U.S.A

• North Korea

• China

Who are the three actors in a mixed economy?

• Government, Banks, and Households

• Banks, Households, and Business's

• Government, Business's, Banks

• Government, Business's, Households

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. 

• Traditional 
• Market 
• Command 
• Mixed

There are four types of economic systems. Most economies are _____.

• Traditional

• Command

• Market

• Mixed

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

• Traditional 
• Mixed 
• Market
• Command

The command economy is typically called  

• Democracy
• Dictatorship
• Autocracy
• Communism

The government has little to no role in the production of goods in this type of economy. 

• Traditional 
• Mixed
• Command 
• Market