Economic Systems and Goals

Front

Which of the following is an economic system in which the government and people are used to decide how to use scarce resources? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

Which of the following is an economic system in which economic decisions are made according to social roles & culture?
Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Traditional economy

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market.

Back

Traditional, Command, Mixed, & Market

Front

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

Back

command economy

Front

The government has little to no role in the production of goods in this type of economy.

Back

Market

Front

Reduces extreme ups and downs in our economy and helps to keep prices from changing too quickly

Back

stability

Front

Help to protect people from unexpected events

Back

security

Front

When an economy focuses on having jobs for all individuals willing and able to work this is known as:

Back

Full Employment

Front

Allows each member of society to make choices about how to use their resources

Back

Freedom

Front

Promotes wise decision making when using resources

Back

efficiency