Exploring Economic Systems

1. ______ A centralized government controls all economic activity.

• Traditional Economy
• Command Economy
• Market Economy
• Mixed Economy

2._______Free market principles guide the exchange of goods and services.

• Mixed Economy
• Traditional Economy
• Market Economy
• Command Economy

3. _______This economic system relies primarily on individual labor and focuses on basic goods and services being traded in a small community.

• Command Economy
• Mixed Economy
• Market Economy
• Traditional Economy

4. _______A combination of free market activity and centralized government controls characterize this economic system.

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy

_______In this barter economy, individuals exchange the goods and services they need for the goods and services they can provide others.

• Command Economy
• Mixed Economy
• Traditional Economy
• Market Economy

6. _______This economic system promotes capitalism, a free market system with minimal government intervention..

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy

7. _______ This system exists only in small, isolated communities today but was more common in earlier societies.

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy

8. ________This economic system has mostly privately-owned industries, but there are also a number of government-run utilities.

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy

9. __________ North Korea is one of the few countries that has this economic system, characterized as having little or no independently-owned businesses.

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy

10. ________If a child at the school lunch table trades her bag of chips for another child’s apple, it is an example of practices most common in this economic system.

• Market Economy
• Traditional Economy
• Mixed Economy
• Command Economy