SWAME: Economies intro

All of the following are questions countries must answer when developing its economic plan EXCEPT?

• What good/services will be produced?

• How will goods/services be produced?

• Who will consume the goods/services?

• Why will goods/services be produced?

Which economy allows for Bartering and makes decisions based on customs, traditions, and beliefs of the past?

• Traditional

• Command

• Market

• Mixed

Which type of economy is regulated through strict government control and usually hard to live under?

• Traditional

• Command

• Market

• Mixed

Which type of economy answers the economic questions based on supply and demand with no government control?

• Traditional

• Command

• Market

• Mixed

Which type of economy is the most common throughout the world?

• Traditional

• Command

• Market

• Mixed

Juan lives in a rural village in Mexico with his parents and 5 siblings. They have a market where villagers can trade and barter for items. What type of economy does Juan live in?

• Traditional

• Command

• Market

• Mixed

Ashley lives in the United States and her family owns a meat company. The government sets rules for the quality of meat Ashley's family can sale to the public. If those rules are followed They can sell all the meat the public wants. What type of economy does Ashley live in?

• Traditional

• Command

• Market

• Mixed

Cori lives in a country where the Government makes all economic decisions. Cori and her family work in a commune or a community farm. What type of economy does Cori live in?

• Traditional

• Command

• Market

• Mixed

Casey owns a Car company and continually produces unsafe cars to make costs cheaper. There are no Government rules or regulations to keep Casey's company from doing this. What type of economy is this?

• Traditional

• Command

• Market

• Mixed