Europe Economics Review

Front

Economic system where roles are inherited.

Back

traditional economy

Front

Economic system where the government decides roles and jobs.

Back

command economy

Front

Economic system where citizens decide what to sell.

Back

market economy

Front

Economic system where prices fluctuate based on supply and demand.

Back

market

Front

Economic system where the government owns industries and resources.

Back

command

Front

What type of economy does A represent?

Back

command

Front

What type of economy does B represent?

Back

market

Front

Why aren't there any pure market or command economies?

Back

To be a pure market economy, government could not exist

Front

Which statement about the graph is correct? 1 and 2 encourage entrepreneurial growth, 3 and 4 have the government making the majority of the decisions for the citizens, 4 would have very little if any government regulations, 1 would have very little if any government regulations

Back

1 and 2 encourage entrepreneurial growth

Front

Which is best for entrepreneurial growth?

Back

4