Howard 6th SS.

Front

This system answers economic questions based on traditional customs and values. Passed down from generation to generation.

Back

Traditional Economy

Front

This system answers economic questions based on supply and demand in the market. What the people want to buy and sell determines what goods and services are produced.

Back

Market economy

Front

This system answers economic questions through strict governmental control and regulations.

Back

Command Economy

Front

In traditional economy, decisions about what, how, and for whom to produce are determined by?

Back

cultural traditions

Front

In a command economy, decisions about what, how and for whom to produce are determined by?

Back

the government

Front

What are the 3 economic questions that every country's economy must answer?

Back

what to produce, how to produce, and for whom

Front

A country's economic system refers to?

Back

the way it which it produces and distributes goods and services.