Government and Economies Review

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

In a market economy, if your mom dad are both teachers, do you have to be a teacher?

• NO
• Yes
• Maybe

If the government makes me produce 70 T-Shirts, what economic system is this?

• Mixed
• Traditional
• Command
• Market

If I choose to produce fish for my town because my mom and dad were fishermen/women, what economic system is this?

• Mixed
• Market
• Traditional
• Command

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed
• Traditional
• Market 
• Command

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

• Market
• Socilaism 
• Mixed 
• Command 

Which of the following is an economic system in which the government and individuals are used to decide how to use scarce resources?

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

Anyone who makes or grows a good or performs a service.

• Barter
• Consumer
• Producer
• Profit