Economic Systems

Front

Sam loves science and wants to become a doctor but he is learning how to make clay bricks like his father and grandfather. Options: Free Market, Traditional, Mixed, Command

Back

Traditional

Front

Mary Ann runs a car dealership selling only government produced cars. At the end of the month Mary Ann must give all of the money she made back to the government. Options: Traditional, Free Market, Mixed, Command

Back

Command

Front

Joe owns a shoe store. At the end of the month Joe decides what to do with his profits. Options: Command, Free Market, Traditional

Back

Free Market

Front

Sarah's future job will be decided by the government. What type of economy is this? Options: Traditional, Free Market, Mixed, Command

Back

Command

Front

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

Back

Command

Front

Ted is 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

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

Back

Market economy

Front

Capital resources

Back

the machines, tools, and buildings used to produce goods

Front

Oil, natural gas, and coal

Back

natural resources

Front

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

Back

Traditional