Economy and the Government

what is a government

• a group of corporations that make laws
• a group of people who overthrow leaders
• a country that has no leaders
• a person or group of people that controls a country

what two economies combine to form a mixed economy?

• command and market
• traditional and market
• command and traditional 
• market and mixed

The government plans how to use resources to make goods and services.

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

Producers and consumers determine how to use resources and make goods based on supply and demand in the market, without government interference.

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

Both supply and demand and the government influence how resources are used to make goods and services.

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

Most countries in the world have a ___________________ economy.

• Traditional
• Command
• Mixed
• Market

Nike and Under Armour sell similar products.  This leads to a decrease in price and an increase in quality.

• Free Market
• Command
• Traditional

What resource is this?

• natural resource
• human resource
• capital resource

What is this resource?

• capital resource
• human resource
• natural resource

What resource is this?

• capital resource
• natural resource
• human resource