Economic System Review

Front

The three economic questions someone starting a food truck business should consider before starting a business?

Back

What, how, for whom to produce

Front

Most countries in the world have a ___ economy.

Back

mixed

Front

Which type of economic system is based on customs of past generations and needs of the family or tribe?

Back

traditional

Front

How can a country move more toward a market economy? Options: increase taxes, increase government involvement, decrease goods and services, decrease government involvement

Back

decrease government involvement

Front

Which country has a pure market economy? Options: United Kingdom, Russia, Germany, None

Back

None

Front

If a country has a command economy, its government is most likely a/an___.

Back

autocracy

Front

What type of economic systems has privately owned businesses and property with government regulations/laws? Options: Traditional economy, Market economy, Mixed Economy, Command Economy

Back

Mixed Economy

Front

Which type of economic system uses bartering?

Back

traditional

Front

What is missing in a pure market economy?

Back

government

Front

In a pure command economy, what is missing? Options: privately owned land and business, government control, citizens, currency

Back

privately owned land and business