European Economic Systems

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If a country's government is communist, it will have this kind of economic system.

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Command economic system

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SS7E7

Front

Lots of bartering/trading take place in this type of economic system.

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traditional economic system

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In a market system, the three economic questions are answered based on this: Supply and demand, Consumer's traditional values.

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Supply and demand

Tags

SS7CG1

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Most countries in Europe have this kind of economy that leans closer to a pure market economy than a command economy.

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Mixed economy

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SS7E7

Front

This European country's government controls many of its resources and is very active in the economy.

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Russia

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SS7E7

Front

This European government plays a role in the economy by collecting high taxes to help the poorer citizens. The government also sets the price of some goods and services.

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Germany

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SS7E7

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This European country's government plays a very limited role in the country's economic planning.

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United Kingdom

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SS7E7

Front

Which of the following is NOT one of the three economic basic questions: What to produce?, Whom to produce it for?, How to produce it?, Where to produce it?

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Where to produce it?

Tags

SS7E7

Front

If a country has more than one type of economic system, what do you call this?

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Mixed Economy

Tags

SS7E7

Front

When it comes to economics, what is bartering?

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Exchange of goods or services without money

Tags

SS7E7