Types of Economies

Which type of economy has central ownership and lack of individual choice?

• Market Economy
• Mixed Economy
• Command Economy
• Traditional Economy

Which type of economy is controlled by the government?

• Command
• Market
• Mixed
• Democratic

Which type of economy is based on traditions and beliefs?

• Command
• Market
• Traditional
• Mixed

In this economic system, the people have total power in deciding jobs, goods, and services

• Market Economy

• Command Economy

• Mixed Economy

In this economic system, supply and demand determine what is made.

• Market economy

• Command economy

• Mixed economy

Economic System where there is limited technology and ideas are passed down from generation to generation

• Command
• Traditional
• Mixed
• Market

Type of economic system where there is no government control.

• Mixed
• Market
• Free Enterprise
• Command

Capitalism is most closely related to which type of economic system?

• Command
• Traditional
• Free Enterprise
• Mixed

What economy is also known as Communism?

• Traditional

• Command

• Market

• Mixed

Rivalry between producers/sellers of goods or services which results in better quality goods and lower prices.

• competition

• tournament

• profit

• distribution