Unit 10 Vocabulary Set A

An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next.

• Command Economy

• Traditional Economy

• Market Economy

• Mixed Economy

An economic system in which the government controls a country's economy.

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

Economic system where economic decisions are made by individuals in the open market; based on supply and demand

• Command Economy

• Market Economy

• Mixed Economy

• Traditional Economy

an economic system that combines the free market with some government involvement

• Command Economy

• Market Economy

• Traditional Economy

• Mixed Economy

a 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100)

• Economic Continuum

• Traditional Economy

• Command Economy

• Economic Questions

What to produce? How to produce? For whom to produce?

• Traditional Economy

• Economic Questions

• Economic Continuum

• Command Economy