Economic Systems-7th Grade

Front

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?

Back

Traditional

Front

What type of economy does North Korea have, where a dictator makes all of the economic decisions?

Back

Command

Front

The government controls the factors of production in which type of economic system? (Options: Command, Mixed, Market, Traditional)

Back

Command

Front

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

Back

Market

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

Front

What type of economic system is based on customs and beliefs?

Back

Traditional

Front

A system that uses bartering or trading.

Back

Traditional

Front

What is an economic system where only the government makes the economic decisions?

Back

command economy

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

Front

There are four types of economic systems. Most economies are _____.

Back

Mixed