Capitalism and Market Economy

Economic system where individuals (producers and consumers) answer the three basic economic questions:

• Market
  Market
  Market
• Command
• Traditional
• Modern or Mixed

Economic system where the government answers all three basic economic questions:

• Market
• Command
• Traditional
• Modern or Mixed

Economic system where tradition, customs, and values answer the three basic economic questions:

• Market
• Command
• Modern or Mixed
• Traditional

Modern economic system that is comprised of some of the characteristics of the Economic Systems used throughout the world:

• Modern or Mixed
• Command
• Market
• Traditional

This is something that encourages or motivates someone to produce a good or service:

• Competition
• Profit
• Incentive
• Investment

This term is given to the difference between the total cost of production and the total revenues:

• Competition
• Profit
• Incentive
• Investment

The term given to the use of money to help a business get started or money used to improve the business, with the hope the business will earn a profit in which you can share

• Competition
• Profit
• Incentive
• Investment

The system in which individuals in a market economy are free to undertake economic activities with little or no control by the government:

• Capitalism
• Investment
• Free Enterprise
• Communism

A fishing village would be an example of which economic system:

• Market
• Command
• Free Enterprise
• Traditional

This country employs a command economy with elements of free enterprise:

• China
• North Korea
• USA
• Canada