Economic Systems Review - Bay

Front

Which economic system allows for the most individual freedom? Options: Mixed, Market, Command, Traditional

Back

Market

Front

In which economic system does the government have the most control?

Back

Command

Front

In which economic system do individuals do things based on customs & beliefs? Options: Command, Market, Mixed, Traditional

Back

Traditional

Front

What is the economic system of most communist countries? Options: Command, Traditional, Market, Mixed

Back

Command

Front

Most democratic countries have which type of economic system?

Back

Mixed

Front

If your parents were soy bean farmers, then you would be a soy bean farmer too. What type of economy is this?

Back

Traditional

Front

Businesses (run by private citizens) determine what goods/services are produced and how they will be made. Options: Mixed, Command, Market, Traditional

Back

Market

Front

Businesses make economic decisions, but the government regulates them to make sure they’re safe/fair.

Back

Mixed

Front

The limited supply of something

Back

scarcity

Front

Which of the following would reflect a country with a mixed economy?

Back

A combination of privately-owned industry and government control.