Economic Systems

Sam loves science and wants to become a doctor but he is learning how to make clay bricks like his father and grandfather.

• Free Market
• Traditional
• Mixed
• Command

Katia is an accountant in a government run business where she was placed after graduation.

• Command
• Traditional
• Free Market
• Mixed

Ted is working towards his dream of becoming a lawyer by working at a law firm as a legal clerk.

• Free Market
• Traditional
• Command

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.

• Traditional
• Free Market
• Mixed
• Command

Sally works in a private company that has to follow government rules for public safety.

• Free Market
• Command
• Mixed
• Traditional

What type of economy do most countries in the world have?

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

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

• Market economy

• Mixed economy

• Communism

• Command economy

There are four types of economic systems. Most economies are _____.

• Traditional

• Command

• Market

• Mixed

Competition and profit motive are important characteristics of a:

• command economy

• traditional economy

• market economy

• socialist economy

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

• Market
• Mixed
• Traditional
• command