Econ Honors: Types of Economies

What is Our Economy 

• Mixed
• Traditional 
• Market 
• Command 

What is the economy when you go hunt just like your father

• Traditional
•  Command
• Mixed
• Market

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? 

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

There are four types of economic systems. Most economies are _____.

• Traditional

• Command

• Market

• Mixed

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command

This type of government typically goes with the Command Economy.  

• Democracy
• Dictatorship
• Autocracy
• Communism

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

• Traditional 
• Mixed
• Command 
• Market

Economics seeks the answer to the basic question of how to deal with ______. 

• money
• hunger
• demand
• scarcity

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 

• Traditional 
• Command 
• Market
• Mixed