Economic Systems

Economics is 

• the study of how individuals and societies seek to satisfy needs and wants
• is government that controls or dictates
• also known as marketing
• the central banking system of the United States

Economics decisions are based on customs and centered around family in which economic system?

• Traditional Economy
• Command Economy
• Market Economy
• Mixed Economy

Supply and demand of goods and services determines the price in which economic system? (La oferta y la demanda de bienes y servicios determina el precio en que sistema económico?)

• Traditional Economy (Economía tradicional)

• Market Economy (economía de mercado)

• Command Economy (Economía dirigida)

• Mixed Economy (Economía mixta)

Government controls or dictates what is produced in this economic system

• Traditional Economy
• Free Enterprise
• Command Economy
• Mixed Economy

The type of economic system the United States has.

• Mixed Economy
• Traditional Economy
• Free Enterprise
• Command Economy

Government takes care of people's needs while the market takes care of their wants in this economic system. 

• Free Enterprise
• Command Economy
• Traditional Economy
• Mixed Economy

This type of government typically goes with the Command Economy.  

• Democracy
• Dictatorship
• Autocracy
• Communism

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command

There are four types of economic systems. Most economies are _____.

• Traditional

• Command

• Market

• Mixed

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

• Traditional 
• Market 
• Command 
• Mixed