Economics - Unit 4

Which IS NOT an example of goods and services?

• Paying for a Chick fil-a meal

• Having your car checked by a mechanic

• Buying more medicine at CVS

• Napping two more hours on a weekend.

What is an example of a TRADITIONAL Economy?

• Buying a movie ticket and popcorn

• The store runs out of my favorite candy and government won't buy more

• Borrowing my friend's marker

• Trading my pen for my friend's marker

North Korea is an example of a ________

• Free Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

A market that is based on supply and demand is ________

• Farmer's Market

• Free Market

• Free Delivery

• Traditional

Which is part of the ECONOMIC SYSTEM?

• Banks

• Trade

• Money

• All of them

What is a combination of free market with some actions from government?

• Mixed Economy

• Command Economy

• Free Market Ecoomy

• Traditional Economy

If my friend will change their PS4 for my Nike shoes, that's an example of a _______

• Free Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

This kind economy is based on SUPPLY AND DEMAND

• Command

• Traditional

• Mixed

• Free Market

A MIXED economy is a combination of _____ and _____

• Command and Traditional

• Command and Free Market

• Economic System

• Traditional and Free Market

What kind of economy is it where the GOVERNMENT has total control?

• Traditional

• Mixed

• Command

• Economic System