Types of Economic Systems

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Traditional Economy Involves bartering or trading

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true

Front

A command economy is

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controlled by the government

Front

There are 3 types of economies

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false

Front

which of the following is a country that follows a command economy: U.S., Canada, U.K, China?

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China

Front

what economy is a combination of a market and command economy?

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mixed

Front

In my country, consumers have most of the influence and the government enforces rules. What type of economy is this?

Back

Mixed economy

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

Front

Which economic system does the government make all economic decisions and owns most of the property - it is sometimes called communism?

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Command

Front

Which economic system is both market and command combined and most democratic countries fall into this category?

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Mixed

Front

Which economic system is it when people decided what to produce, people decide how to produce, and people only produce goods and services for themselves and trading purposes?

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Traditional