11b-World Economies

What type of Economy is based on 'old fashioned ways' or farming?

• Traditional
• Market
• Mixed
• Command

What type of economy does the United States have?

• Traditional
• Command
• Unlimited
• Mixed

Which is NOT a characteristic of a Market Economy?

• Property Rights
• Freedom of Enterprise
• Competition
• Total Government Control

Cuba is an example of what type of economy?

• Traditional
• Command
• Market
• Unlimited

Government ownership of the means of production. In command economies, governments will own some or all of the industries producing goods and services

• True
• False 

_what is the definition of command economy?

• economic system combining private and public enterprise.
  
• an economy in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
  
• An economy in which production, investment, prices, and incomes are determined centrally by a government.

What type of economic system allows government and private businesses to make economic decisions?

• Market
• Mixed
• Traditional
• command

What type of economic system allows private (not the government) businesses to decide what to produce, how to produce and for whom to produce?

• Free Market
• Mixed
• Command
• Traditional

 A system that uses bartering or trading.

• Mixed
• Market
• Traditional
• command

North Korea, who has a dictator that makes most of the economic decisions is what kind of economy?

• Traditional 
• Market 
• Command 
• Centrally Planned