UNIT 2 REVIEW -Economic Systems & Gov't Role in the Economy

What are the 3 questions that determines the type of Economic System a society or nation has?

• Who should receive the products

• Where should the products be produced

• How should the product be produced

• What is to be produced

Which economy is habits, customs, and religion the reason for making economic decisions?

• Mixed Economy

• Command Economy

• Traditional Economy

• Market Economy

Which economy has the government answer all 3 economic questions?

• Market Economy

• Command Economy

• Traditional Economy

• Mixed Economy

Which economy does the people make the economic decisions alone

• Market economy

• traditional economy

• mixed economy

• command

Which economy does the people make economic decisions and the government plays a role too.

• Traditional economy

• Command economy

• Market economy

• Mixed economy

Which economy does not meet the want of the consumer?

• Traditional Economy

• Market Economy

• Command Economy

• Mixed Economy

Which economy does each person know what role to play? Life is predictable and stable.

• Command Economy

• Traditional Economy

• Market Economy

• Mixed Economy

Who is the person that buys good or services, can buy whatever they want.

• market

• producer

• consumer

• economic system

Which economy does the government have the least amount of control over?

• Mixed economy

• Market economy

• Command economy

What are most economies in the world today?

• Market Economy

• Traditional Economy

• Mixed Economy

• Command Economy