Economic Systems

The government makes ALL economic decisions.

• Traditional

• Command

• Market

• Mixed

If your parents were peanut farmers, then you would be a peanut farmer also.

• Traditional

• Command

• Market

• Mixed

Most democratic countries are this.

• Traditional

• Command

• Market

• Mixed

Cuba and North Korea are close to having this type of system.

• Traditional

• Command

• Market

• Mixed

Businesses (private citizens) determine what goods/services are produced & how they will be made

• Traditional

• Command

• Market

• Mixed

Bartering is used.

• Traditional

• Command

• Market

• Mixed

Communist countries are closely related to this.

• Traditional

• Command

• Market

• Mixed

Businesses make economic decisions, but the govt regulates them to make sure they’re safe/fair.

• Traditional

• Command

• Market

• Mixed

Australia is close to this - the people have the control.

• Traditional

• Command

• Market

• Mixed

In the US, the government will make _______ to regulate some areas of business.

• rules

• laws

• businesses

• sectors