Economic Systems - Types of Economies

Front

Which type of economy is controlled by the government? Options: Command, Market, Mixed, Democratic

Back

Command

Front

Which type of economy is based on traditions and beliefs?

Back

Traditional

Front

Which type of economy involves trading, and doesn't usually use money? Options: Command, Traditional, Market, Mixed

Back

Traditional

Front

Which type of economy has the government making all decisions? Options: Market, Mixed, Traditional, Command

Back

Command

Front

How many types of economies are there?

Back

4

Front

Individuals own resources and determine what and how to produce.

Back

market

Front

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

Back

Mixed

Front

Which of the following BEST describes a market system? Options: The government provides services, such as telephones and television., A person can start any legal business and charge any price., The government provides food and housing to all workers., Businesses are owned by the government.

Back

A person can start any legal business and charge any price.

Front

This is an economic system where people follow the occupation of their ancestors:

Back

Traditional

Front

An economic system that allows individuals to start businesses, but still has government regulations is

Back

Mixed