Different economic system G9

The allocation of resources in different department of a country or say the production and distribution of goods and services is called_________________

• economic system

• economic policy

• government policy

The oldest economic system which still believes much in traditions and custums is acalled the __________

• planned economy

• market economy

• traditional economy

A major advantage of a traditional economy is that standard are high

• true

• false

An economic system where the government is the center of every decision is called a______

• mixed

• command

• market

Another name of the command economy is

• market

• planned

• traditional

An economic system where goods are produced upon demand or where the private sector controles the economy is_________

• planned

• market

• mixed

An advanatge of the market economy is that there is high investment in in research and development

• false

• true

________________________is another name for a market economy

• peasant

• free

• planned

_________is an economic system controlled by both the government and the private sector

• mixed

• market

• traditional

An advantage of the mixed economy is that the government sometime intervenes to improve the society

• true

• false