Economies

Economy deals with ______.

• doing things, reading books, working

• making, selling, and buying stuff

• producing goods but not using them

• consuming goods that were instantly created

What is another way to say "production of goods"?

• making stuff

• distributing stuff

• consuming stuff

• watching stuff

What is another way of saying "distribution of goods"?

• making stuff

• selling stuff

• buying stuff

• reading stuff

What is another way of saying "consumption of goods"?

• making stuff

• selling stuff

• buying stuff

• reading stuff

What type of economy is community based and relies on a community's customs and traditions?

• market economy

• mixed economy

• traditional economy

• command economy

Which type of economy has little competition and change is very slow?

• traditional

• mixed

• market

• command

What type of economy is where people make all economic decisions and there is no government involvement?

• market

• mixed

• command

• traditional

What type of economy allows for private ownership of business which creates competition?

• traditional

• mixed

• market

• command

What type of economy is controlled by the government?

• market

• mixed

• command

• traditional

What type of economy encourages equal pay for the people who have little to no freedom or choice in their career path?

• mixed

• market

• command

• traditional