Economic Systems Review

This economy is shaped by traditions, customs, and beliefs:

• traditional

• command

• market

• mixed

This economic system is based on supply and demand:

• traditional

• command

• market

• mixed

In this economic system, a central authority makes plans regarding investment and production:

• traditional

• command

• market

• mixed

In this economic system, prices of goods and services are determined in a free price system:

• traditional

• command

• market

• mixed

In this economic system, both private sector and government direct the economy:

• traditional

• command

• market

• mixed

This economic system is usually rural and farm-based:

• traditional

• command

• market

• mixed

In this economic system, the government controls pricing, distribution, and resources:

• traditional

• command

• market

• mixed

In reality, this economy does not exist in a pure form:

• traditional

• command

• market

• mixed

This economic system is defined by bartering and trading:

• traditional

• command

• market

• mixed

In this economic system, the government ensures healthy competition in the market:

• traditional

• command

• market

• mixed