Economies

Which of the 3 basic economic questions is being answered?:
Nike decides to use more robots on their assembly lines because it is more efficient than using workers.

• What will be produced?
• How will it be produced?
• For whom will it be produced?

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

• Market

• Command

• Traditional

• 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

The government has little to no role in the production of goods in this type of economy. 

• Traditional 
• Mixed
• Command 
• Market

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

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 

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

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