Front

What economic system am I describing? My name is Heraldo Esterez. I have lived in Cuba all of my life. I wanted to become a teacher. However, I work for a large sugar producer that is owned by the government. The government decides when I work, where I work, and how much money I receive.

Back

Command Economy

Front

Which economic system am I describing? My name is Curt Jones and I have always had a passion for delicious ice cream. I discovered a way to freeze ice cream into small dots. I patented the process for making ice cream and built a plant to make enough ice cream to sell it internationally.

Back

Free Market Economy

Front

What type of economic system am I describing? I am a basket maker in India. The people in my village make beautiful baskets. My grandmother and my mother made baskets.

Back

Traditional Economy

Front

Which economic system am I describing? My name is Whitney Smith. I own a toy factory. My employees use many sharp instruments to make the toys. A federal agency called O.S.H.A. (Occupational Health and Safety Administration) visits my factory often to make sure my employees have the safe equipment to use.

Back

Mixed Economy

Front

Which economic system am I describing? My name is Derek Jones.  I am an engineer.  My father and grandfather are engineers also.

Back

Traditional Economy

Front

Which economic system am I describing? My name is Morgan Taylor. I went shopping for a new pair of jeans. I refused to buy the jeans because they were too expensive.

Back

Free Market Economy

Front

What economic system am I describing? My name is Madison Brown. I worked for an ice cream company for many years. I am now 65 years old and have health problems that prevent me from working. I receive a Social Security check each month to help pay my expenses.

Back

Mixed Economy

Front

Which of the following is NOT a basic question of Economics? Options: What will be produced?, For whom will it be produced?, What will be supplied?, Who will produce it?

Back

What will be supplied?

Front

All of the following are characteristics of the US Economy except... Competition, Private Property, Profit, Scarcity

Back

Scarcity