Economic Systems

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

Which economy is dictated by supply and demand and the buyers and sellers?

• Market

• Traditional

• Mixed

• Command

A command economy is when the government is in control.

• True
• False

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

• traditional economy

• traditional

• mixed economy

• command economy

Which of the following is an economic system in which economic decisions are made according to social roles & culture?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

Which of the following is an economic system in which the government regulates SOME parts of the economy?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

What type of economy do most countries in the world have?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

Which government would most likely have a command economy?

• Anarchy

• Dictatorship

• Republic

• Direct Democracy

Which of the following is NOT one of the three basic questions of economics when looking at economic systems? 

• What goods and services will be produced?
• What is the price of the goods? 
• Who is responsible for producing goods and services?
• How will goods and services be distributed to customers?

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors.  This is what kind of economy? 

• Traditional 
• Market 
• Command 
• Centrally planned