Economic Systems

The Amish practice of farming to make a living is what type of economic system

• Traditional

• Market

• Command

• Mixed

The government determines pricing, distribution, and production is what type of economy

• Mixed

• Market

• Traditional

• Command

Which type of economy relies only on the Law of Supply and Demand?

• Mixed

• Market

• Traditional

• Command

Which type of economy does the United States have?

• Mixed

• Traditional

• Market

• Command

Market Economy: Resources are controlled and owned by___

• The Government

• Individuals

• The Dictator

• Mr. Bongiovanni

A command economy is found in what type of government.

• Democracy

• Communist

• Dictatorship

• Theocracy

Which economic system is the most effective for providing goods and services?

• Traditional

• Mixed

• Command

• Barter

What type of economy does North Korea have?

• Mixed

• Command

• Traditional

• Market

When there is a large supply of a product the price usually goes___

• To the right

• Up

• Down

• Nuclear

Which of the following is not a characteristic of a Market economy?

• The government controls the economy

• Profit is the motive for for work

• There is competition among businesses

• Resources are owned by individuals