The Four Types of Economies

The traditional economic system is also known as...

• Beggar System

• Barter System

• Steal & Take

• Communism

A command economy is often associated with this philosophy?

• Socialism

• Capitalism

• Marxism

• Communism

In a command economy, which group tends to hold the most control?

• Government

• Businesses

• Citizens

• Corporations

Which of the following would be examples of countries with a command economy?

• China

• India

• France

• North Korea

In a command economy, who keeps all of the profits?

• Government

• Citizens

• Businesses

• None of the above

In a market economy, the citizens and "who else" act in self-interest.

• Government

• Businesses

• Universities

• All of the above

The hands off type of economy is often call laissez-faire. Which of the following is accurate in this type of economy?

• The government has total control of the economy.

• The government has total control of the citizens.

• The government only gets involved to make a profit.

• The government does not get involved with the economy.

In this type of economy there is a desire to make sure the government does not get too powerful.

• Traditional

• Command

• Free Market

• Mixed

In this economy you might see part of two very different types of economies.

• Free Market

• Command

• Traditional

• Mixed

This Asian city is usually considered an example of a free market economy.

• Hong Kong

• Toyko

• Beijing

• None of the above