Economic Systems

Front

Which of the following is not a factor of production? Import, Land, Labor, Capital

Back

Import

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market, Traditional, Command, Combined, & Market, Communism, Capitalism, Free Market, and Macroeconomics, Microeconomics, Macroeconomics, Individual, and Traditional.

Back

Traditional, Command, Mixed, & Market

Front

A command economy is when the government is in control.

Back

True

Front

Which economic system involves both government and people in deciding how to use scarce resources? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture?
Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Traditional economy

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture?
Options: Market economy, Command economy, Traditional
Traditional economy, Mixed
Mixed economy

Back

Traditional
Traditional economy

Front

What is an economic system where only the government makes the economic decisions? Options: traditional economy, free enterprise, mixed economy, command economy

Back

command economy

Front

What type of economy do most countries in the world have? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

What type of economy is it when a dictator makes all economic decisions?

Back

Command

Front

What are the 3 economic questions?

Back

What to produce? How To Produce? For whom to produce?