Economic Systems

Front

This economic system is based on individual freedom.

Back

Market

Front

This economic system is controlled by the government.

Back

Command

Front

Today, most economies are: Market, Traditional, Mixed, Command

Back

Mixed

Front

In this type of economy, the government places control on businesses, but the individual decides what to make.

Back

Mixed

Front

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.

Back

Command

Front

In this type of economy, the individual decides who to sell their products to. Options: Traditional, Mixed, Market, Command

Back

Market

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

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy? Options: Traditional, Market, Command, Centrally planned

Back

Traditional

Front

Where does a free market economy work best?

Back

In a country where businesses make their own decisions with no government help

Front

Which is NOT an economic goal of the free market? Options: Economic efficiency, Economic freedom, Economic growth and innovation, Economic equity

Back

Economic equity