Types of Economic Systems

A market economy is a system where businesses and _______________ decide what to buy and sell.

• local leaders

• government leaders

• consumers

• trade agreements

A __________________ economy is the opposite of a market economy.

• free enterprise

• free market

• capitalist

• command

A __________________ is a combination of command and market economies.

• planned economy

• mixed economy

• monopoly

• dynasty

In a command economy, the government controls goods and services.

• true

• false

In a market economy, consumers must work for the company whose products they buy.

• true

• false

In a market economy, the system depends on _____________________.

• the government

• buyers and sellers

• buyers

• sellers

In a market economy, those who want to be wealthy _____________________ the economy.

• have no effect on

• hurt

• help

• are in charge of

People in a market economy choose how they will earn their living.

• true

• false

In a market economy, income is determined by ____________________.

• technology

• government

• the marketplace

• tradition

Trade with other countries is not allowed in a market economy.

• true

• false