Economic Systems of Europe

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

A command economy is when the government is in control.

• True
• False

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

• 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 economy
• Mixed economy

What is an economic system where only the government makes the economic decisions? 

• traditional economy
• free enterprise 
• mixed economy
• command economy

The Country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional 
• Market 
• Command 
• Centrally Planned 

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

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

• Market
• Command
• Free Enterprise
• Traditional

The traditional economy employs this system of exchanging goods and services:

•  Capitalism
• Profit
• Investment
• Bartering