Economic Systems
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Easy
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13 questions
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1.
FLASHCARD QUESTION
Front
A command economy is when the government is in control.
Back
True
2.
FLASHCARD QUESTION
Front
What is an economic system where only the government makes the economic decisions?
Back
command economy
3.
FLASHCARD QUESTION
Front
What type of economy do most countries in the world have?
Back
Mixed economy
4.
FLASHCARD QUESTION
Front
The country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?
Back
Command
5.
FLASHCARD QUESTION
Front
The government has little to no role in the production of goods in this type of economy.
Back
Market
6.
FLASHCARD QUESTION
Front
Businesses have freedom to produce whatever they think consumers will buy.
Back
Market
7.
FLASHCARD QUESTION
Front
Each society must determine how to best use its: People, Land, Natural Resources, All of the above
Back
All of the above
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