Economic Systems/ Economic Questions Review

Front

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce? Options: Market, Mixed, Command, Traditional

Back

Command

Tags

EPF.E.1.1

Front

What type of economic system is based on customs and beliefs? Options: Market, Mixed, Traditional, command

Back

Traditional

Tags

EPF.E.1.1

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market.

Back

Traditional, Command, Mixed, & Market

Tags

EPF.E.1.1

Front

What are the 3 economic questions?

Back

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

Tags

EPF.E.1.1

Front

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

Back

Mixed economy

Tags

EPF.E.1.1

Front

Oil, natural gas, and coal

Back

natural resources

Tags

EPF.E.1.1

Front

In this type of economy, the individual decides who to sell their products to.

Back

Market

Tags

EPF.E.1.1

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

Tags

EPF.E.1.1

Front

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy.

Back

Traditional 

Tags

EPF.E.1.1

Front

A _________ economy is a market-based system in which the government is involved to some extent.

Back

Mixed

Tags

EPF.E.1.1