Economic Systems

What economic system has the most government control?

• traditional

• free market

• command

• mixed

In which government system does the government have a "hands off: or "laiszez-faire" approach to the economy?

• command

• traditional

• free market

• mixed

In which economic system do societies make goods based on tradition?

• traditional

• command

• mixed

• free market

In which of the following systems is progress stressed the most?

• command

• free market

• tradtional

In which economic system are good produced based on what the government believes needs to be made?

• command

• market

• tradtional

• mixed

In what economic system do people not make technological or scientific advancements to their products, but instead use traditional means of production?

• mixed

• command

• traditional

• free market

What country is the best example of a command economy in the world right now?

• Hong Kong

• New Zealand

• North Korea

• China

What type of economy does the U.S. have?

• mixed

• traditional

• free market

• command

What are the 3 main roles in any economic system?

• producer, consumer, and government

• traditional, command, and free market

• buyer, consumer, earner

• seller, producer, manufacturer

What is the problem that consumers have?

• they have unlimited resources and limited wants

• they have unlimited wants, but limited resources

• they have too much money

• they have to get a job