[6A] Economic Systems: Latin America (SS6E1a)

A traditional economy is based on_________.

• tradition

• manufacturing

• only supply and demand

• factories

A traditional economy largely depends on ________.

• Technology

• Airplanes

• Skyscrapers

• Agriculture

In which type of economy does the government make all of the decisions?

• Market

• Republic

• Command

• Market

A command economy is typically operated by _______.

• Dictator

• President

• Prime Minister

• Traditions

In a command economy, the people own all the businesses.

• True

• False

Which of the following is a negative aspect of command economies?

• Based on supply and demand

• The citizens make all of the money

• The citizens often regulate the economy

• The government limits entrepreneurship.

Which type of economy does Mexico have?

• Mixed

• Command

• Communist

• Traditional

Mexico has an economy based on:

• Limited trade

• Government control

• Minimal trade

• trade, manufacturing, services and finance

Brazil has a mixed economy

• True

• False

A traditional economy is a simple economy based on tradition.

• True

• False