Types of Economies

Which type of economy is controlled by the government?

• Command
• Market
• Mixed
• Democratic

Which type of economy is run by the businesses & business owners?

• Command
• Mixed
• Communist
• Market

Government owns resources and controls production, prices, and wages.

• traditional
• command
• market 
• mixed

Prices and wages are determined by producer supply and consumer demand.

• traditional
• command
• market
• mixed

What type of economy does the United States have?

• Traditional
• Command
• Unlimited
• Market

Resources are usually shared.  Many use bartering to exchange goods and services.

• traditional
• command
• market
• mixed

Government regulates certain industries.

• traditional 
• command
• market
• mixed

Economy is...

• make (something needed or wanted) available to someone; provide
• the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
• arrange for (a room, seat, ticket, etc.) to be kept for the use of a particular person and not given to anyone else.
• Hallo

Tags

CCSS.RL.6.4

CCSS.RI.6.4

CCSS.RI.5.4

CCSS.RL.7.4

CCSS.RL.5.1

A producer is...

• a person, company, or country that makes, grows, or supplies goods or commodities for sale.
• A person
• Mars
• the state of being scarce or in short supply; shortage.

How would a free market economy be described?

• An economy in which decisions are made by the government.
• The international exchange of goods.
• An economy based on supply and demand with little or no government control
• An economy that is communist