Economic Systems

Free enterprise is a componet of which economic system?

• Command

• Market

• Traditional

Total government involvement is associated with which system?

• Command

• Market

• Tradition

The Government controls the factors of production and makes all the decisions.

• Command

• Market

• Tradition

In _______ economy, there is no government involvement in economic decisions

• Command

• Market

• Tradition

In this system, goods and services are bartered and there is no formal system.

• Market

• Command

• Traditional

_______ is characterized by private ownership of businesses and marketplace competition.

• Capitalism

• Socialism

• Communism

This characterized by increased government involvement in people’s lives and the economy with the main goal to keep prices low for all people and to provide employment for many. Private enterprise still exists.

• Capitalism

• Socialism

• Communism

The government can assigns housing, schools, and occupations.

• Capitalsim

• Socialism

• Communism

Capitalism is most closely associated with

• Market Economy

• Command Economy

• Traditional Economy

Communism is most closely associated with

• Market Economy

• Command Economy

• Mixed Economy