Wyatt CE 11b Economic Systems

Front

What type of economic system is described when Mason learns to make clay bricks like his father and grandfather? Options: Free Market, Traditional, Mixed, Command

Back

Traditional

Front

Arshae is an accountant in a government run business where she was placed after graduation. Options: Command, Traditional, Free Market, Mixed

Back

Command

Front

What type of economic system is described by a car dealership selling only government-produced cars and returning all profits to the government?

Back

Command

Front

What type of economic system allows Nasir to decide what to do with his profits from his shoe store? Options: Command, Free Market, Traditional

Back

Free Market

Front

Nike and Under Armour sell similar products. This leads to a decrease in price and an increase in quality.

Back

Free Market

Front

In which type of economy is a person's job decided by the government?

Back

Command

Front

What type of economic system is represented by Michael working towards his dream of becoming a lawyer by working at a law firm as a legal clerk? Options: Free Market, Traditional, Command

Back

Free Market

Front

What type of economic system does Krishanda's company operate under, given it follows government rules for public safety?

Back

Mixed

Front

Who or what answers the basic economic questions in a mixed economy?

Back

Individuals, Businesses, and Government

Front

Who or what answers the basic economic questions in a traditional economy?

Back

Custom