Economic Systems

Nigeria adopts __________ economic system

• capitalist

• socialist

• mixed

• pure 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

What type of economic system is based on customs and beliefs?

• Market
• Mixed
• Traditional
• command

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.

In a command economy, who holds power over the economy?

• The people
• The government 
• Beyonce
• The traditions of your ancesetors 

If the government makes me produce 70 T-Shirts, what economic system is this?

• Mixed

• Traditional

• Socialism

• Market

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed
• Traditional
• Market 
• Command

Which of the following is an economic system in which the government and individuals are used to decide how to use scarce resources?

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

Laissez-faire means...

• Hats off
• Hands around
• Hands off
• Hands on

In a socialist economy, the wealth is distributed evenly among citizens.

• True
• False