The Four Types of Economies

Front

The traditional economic system is also known as...

Back

Barter System

Front

A command economy is often associated with this philosophy?

Back

Communism

Front

In a command economy, which group tends to hold the most control?

Back

Government

Front

In a command economy, who keeps all of the profits?

Back

Government

Front

In a market economy, the citizens and "who else" act in self-interest?

Back

Businesses

Front

The hands off type of economy is often called laissez-faire. Which of the following is accurate in this type of economy? The government has total control of the economy. The government has total control of the citizens. The government only gets involved to make a profit. The government does not get involved with the economy.

Back

The government does not get involved with the economy.

Front

In this type of economy there is a desire to make sure the government does not get too powerful.

Back

Free Market

Front

In this economy you might see part of two very different types of economies: Free Market, Command, Traditional, Mixed.

Back

Mixed

Front

This Asian city is usually considered an example of a free market economy.

Back

Hong Kong

Front

This type of economy is considered to be the most basic in all the world.

Back

Traditional