SS7E5ab, SS7E6a, SS7E7abd

Which of the following is an economic system where decisions are made by government planning groups?

• Traditional
• Command
• Mixed
• Market

Which of the following is an economic system where decisions are made by INDIVIDUAL buyers and sellers?

• Traditional
• Command 
• Mixed
• Market

what are the 3 questions of economics 

• what to produce, how to produce , and for whom to produce for
• traditional,command,market
• how produce ,who produce, and for who produce for
• what to produce, how to produce,and for who

Which one of these is an example of an entrepreneurship

• Getting a job
• Opening a new coffee shop
• Becoming an intern

what is the economic system that is commonly seen in the world today

• market
• command
• mixed 
• traditional 

Which of the following is an economic system where  decisions are made based off of customs and traditions?

• Traditional
• Command
• Mixed
• Market

Most economies in the world today operate somewhere in between a market economy and a commandeconomy because

• Most consumers believe the government should have absolute control of the economy.
• Absolute government control allows for more consumer choice. 
• Consumers are not concerned with product safety.
• Consumers need some government control to ensure product safety.

What is “economic specialization”?

• Directly trading goods from one country to another without using money.
• Trying to avoid investing in industry and technology because of the costs.
• Producting everything a country needs, so that trade with other countries is not needed.
• Producing what a country makes most efficiently and trading that with others who need it. 

The USA has mostly a _____________ economy.

• Command
• Traditional
• Mixed
• Market

Most communist countries have a _______________ economy.

• Command
• Market
• Traditional
• Mixed