Economic Systems

What type of economic system allows private businesses to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system is based on customs and beliefs?

• Market
• Mixed
• Traditional
• command

Communist countries have what type of economic system?

• Market
• Mixed
• Command
• Traditional

Democracies like Russia, UK and Germany have what type of economic systems?

• Market
• Mixed
• Traditional
• command

People that buy a product

• Consumers
• producers
• goods
• services

People that make a product

• consumers
• producers
• goods
• services

Tangible and intangible items people produce to sell

• consumers
• producers
• goods and services
• opportunity costs

 A system that uses bartering or trading.

• Mixed
• Market
• Traditional
• command

Which of the following is an example of a phsycial tarde barrier?

• Embargo
• mountain
• Blockade
• tariff