Economic Systems and Trade Barriers
Flashcard
•
Geography, Social Studies
•
6th Grade
•
Hard
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16 questions
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1.
FLASHCARD QUESTION
Front
Producers and consumers determine how to use resources and make goods based on supply and demand in the market, without government interference.
Back
Market Economy
2.
FLASHCARD QUESTION
Front
People use the resources they have to make only what they need to survive.
Back
Traditional Economy
3.
FLASHCARD QUESTION
Front
Most countries in the world have a ___________________ economy.
Back
Mixed
4.
FLASHCARD QUESTION
Front
What type of economy is represented by Sam learning how to make clay bricks like his father and grandfather? Options: Free Market, Traditional, Mixed, Command
Back
Traditional
5.
FLASHCARD QUESTION
Front
Which economic system is based on customs and beliefs, people will do the same work as their parents, and the exchange of goods is through bartering (no money)?
Back
Traditional
6.
FLASHCARD QUESTION
Front
Which economic system does the government make all economic decisions and owns most of the property - it is sometimes called communism?
Back
Command
7.
FLASHCARD QUESTION
Front
Which economic system are all resources privately owned and the producers and consumers answer the three economic questions?
Back
Market
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