Economic Systems

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

What type of economy do most countries in the world have?

• Market economy
• Command economy
• Traditional economy
• Mixed economy

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

• Traditional 
• Market 
• Command 
• Mixed

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 

• Traditional 
• Command 
• Market
• Mixed

A _________ economy is a market-based system in which the government is involved to some extent.

• Traditional

• Planned/command

• Mixed

• Free Market

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

A _____________ economy is completely determined and controlled by a central planning authority or the government

• Traditional

• Planned/Command

• Mixed

• Free Market

The government has little to no role in the production of goods in this type of economy. 

• Traditional 
• Mixed
• Command 
• Market

_______ is another word for Market Economy. 

• Capitalism 
• Communism