Economic Systems

How society produces goods and services and how they distribute them is....

• economic system

• free enterprise

• mixed economy

• free market

An economic system where people own their own property, businesses, and choose what to produce and sell

• capitalism

• communism

• socialism

• command economy

Also know as free market

• capitalism

• free enterprise

• communism

• mixed economy

Businesses can decide what to produce and sell based on public demand

• free enterprise

• communism

• socialism

• capitalism

An economic system where the government owns all natural resources, industries, and businesses

• communism

• socialism

• capitalism

• mixed economy

Where the government decides what businesses will produce and sell

• command economy

• mixed economy

• socialism

• capitalism

An economic system in which the government owns the primary means of production

• socialism

• capitalism

• communism

• command economy

A combination of private businesses and government controlled businesses

• mixed economy

• command economy

• communism

• socialism

Socialism is also known as...

• mixed economy

• free enterprise

• command economy

• free market

Communism is also known as...

• command economy

• mixed economy

• capitalism

• free enterprise