Economy

Front

The government of a country sets strict limits on how much bread can be baked each day. Prices for bread are set by the government, not by the baker.

Back

Command Economy

Front

A family of farmers raises crops the same way their ancestors did, passing down methods for planting and harvesting. They grow enough food for themselves and trade extras with neighbors.

Back

Traditional Economy

Front

In one country, businesses compete freely to sell cell phones. Prices are decided by supply and demand, and customers choose which brand to buy.

Back

Market Economy

Front

What type of economy allows the government to provide free healthcare for all citizens while also permitting people to choose private doctors if they want to pay for it?

Back

Mixed Economy

Front

The government decides how much steel a factory should make and who can buy it. Workers have no say in production choices.

Back

Command Economy

Front

On a remote island, fishing methods are passed down from generation to generation. The community always shares the catch the same way their ancestors did.

Back

Traditional Economy

Front

In the United States, private businesses make most decisions about products and prices, but the government sets safety regulations and minimum wages.

Back

Mixed Economy

Front

What type of economy is described where a new clothing brand decides styles and prices, and customers decide to buy based on fashion trends and price?

Back

Market Economy