World Economies

Who sets the prices in a command economy?

• The people

• The market

• The government

• Mixture

What is the role of the government in a command economy?

• They have total control of the economy

• The consumers and producers have total control of the economy

• They split control of the economy

• There is not a government in a command economy

What is the role of the government in a Free Market economy?

• They have total control of the economy

• The consumers and producers have total control of the economy

• They split control of the economy

• There is not government in a command economy

What is the role of the government in a Mixed economy?

• They have total control of the economy

• The consumers and producers have total control of the economy

• They split control of the economy

• There is not government in a command economy

What type of economy is a mixture of traditional, command and market economy?

• Market

• Command

• Traditional

• Mixed

Which type of economy relies on barter or trade?

• Market

• Command

• Traditional

• Mixed

Who owns the resources in a command economy?

• Government

• The people

• The market

• No one owns the resources

Who owns the resources in a Free Market economy?

• Government

• The people

• No one owns the resources

The Inuit Tribe in Alaska as well as isolated pockets of India utilize this type of economy..

• Traditional

• Command

• Free Market

North Korea is an example of which type of economy?

• Market

• Command

• Traditional

• Mixed