economic systems

An economic system in which individuals and businesses make decisions about what to produce.

• Capitalism

• Command economy

• Communism

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

• Capitalism

• Free Enterprise

• Command/ Communism

Joe owns a shoe store. At the end of the month Joe decides what to do with his profits.

• Command

• Free Market/Capitalism

• Communismm

Mary Ann runs a car dealership selling only government produced cars. At the end of the month Mary Ann must give all of the money she made back to the government.

• Socialism

• Free Market

• Capitalism

• Command or Communism

Sarah would like to become a doctor when she grows up. Unfortunately, she lives in a country where her job will be decided for her by the government.

• Communism

• Free Market

• Socialism

Who or what answers the basic economic questions in a command/communist economy like what to produce and what will the price be?

• Individuals and Businesses
• Government
• Custom

Who or what answers the basic economic questions in a free market economy?

• Individuals and Businesses
• Government
• Mr. Stanford

In which economic system is the protection of private property rights essential?

• Command

• Traditional

• Capitalism

This type of government is another name for Command Economy.

• Democracy

• Dictatorship

• Autocracy

• Communism

_______ is another word for Free Market Economy. 

• Capitalism 
• Communism