ECONOMIC SYSTEMS

Front

An economic system in which individuals and businesses make decisions about what to produce.

Back

Market economy

Front

What are capital resources?

Back

the machines, tools, and buildings used to produce goods

Front

Competition and profit motive are important characteristics of which type of economy?

Back

market economy

Front

What type of economic system is based on customs and beliefs?

Back

Traditional

Front

The four types of economic systems are:

Back

Traditional, Command, Mixed, & Market

Front

In this type of economy, the individual decides who to sell their products to. Options: Traditional, Mixed, Market, Command

Back

Market

Front

In my country my job is the same one that my family has done over the past 200 years.

Back

Traditional

Front

In my country, the government makes all the economic decisions. Options: Traditional, Command, Market, Mixed

Back

Command

Front

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of. Options: Traditional, Command, Market, Mixed

Back

Traditional

Front

In a command economy, who holds power over the economy?

Back

The government