Economic Systems

Karl Marx's book describing command economics.

• "The Wealth of Nations"

• "The Communist Manifesto"

Which pair of economic systems best completes this diagram?

• Mixed - Traditional

• Command - Traditional

• Mixed - Free Market

• Free Market - Command

This list describes what type of economic system?

• Command

• Mixed

• Free market

• Barter

Who has the most influence in a free market economic system?

• Consumers

• Producers

• Suppliers

• Lawyers

Which phrase best completes the title of this diagram?

• Government Regulation

• Industrial Productivity

• Business Profit

• Consumer Choice

Which type of economy is being defined?

• Command

• Free market

• Mixed

• Traditional

Who is the creator of free-market economics?

• Adam Smith

• Karl Marx

Who is the creator of command economics?

• Adam Smith

• Karl Marx

Adam Smith's book describing free-market economics.

• "The Communist Manifesto"

• "The Wealth of Nations"

A business that exists with no competition is called a ______.

• monopoly.

• corporation.

• proprietorship.

• partnership.