Economic Systems Part 1

The motivator of the Subsistence or Traditional Economy is....

• Survival

• Profit

• Government regulations

What Economic system is guided by the system of free enterprise?

• The Market Economy

• The Traditional or Subsistence Economy

• The Command Economy

• Primary Activities

Which kind of Economic activities are usually located near customers to serve them better?

• Secondary Activities

• Primary Activities

• Tertiary Activities

• None of the above

Most of the world’s rich countries have ......... economies.

• Market Economy

• Traditional or Subsistence Economy

• Command Economy

• None of the above

North Korea is a ..... country

• Capitalist

• Communist

• Rich

• Command Economy

Which Economic Activities are usually located close to the resource being used or close to the market of the finished product.​

• Secondary Activities

• Primary Activities

• Tertiary Activities

• Quaternary Activities​