Economic systems

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

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

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

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 

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 

What is NOT one of the three key economic questions

• What goods & services should be produced?

• How should goods & services be consumed?

• How should these goods & services be produced?

• Who consumes these goods & services?

I have a problem with having enough resources. What basic question of economics solves this? 

• What to produce?
• How to produce?
• When to produce? 
• For whom to produce?