Economy

Front

What is an economy?

Back

It describes how a country manages it's money and resources

Front

Define a command economy

Back

Government tells what to produce, how to produce and for whom to produce. Government makes are the decisions financially.

Front

Which choice best explains a mixed economy? Options: Government has all the control, Combination of Market and Command Economy, People trade

Back

Combination of Market and Command Economy

Front

All economic decisions are made by the government.

Back

Command Economy

Front

What type of economy do most countries in the world have?

Back

Mixed economy

Front

Which of the following is an economic system in which the government regulates SOME parts of the economy? Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

A command economy is when the government is in control.

Back

True

Front

What type of economy is characterized by all major decisions being made by a ruler, including what is produced and who gets resources?

Back

Command Economy

Front

In a market economy, what most strongly affects the price and quality of goods and services?

Back

competition as well as supply and demand

Front

What three economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

Back

What is produced, how is it produced, and for whom is it produced?