Economic Systems

A command economy is when the government is in control.

• True
• False

Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

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

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The government has little to no role in the production of goods in this type of economy.

• Traditional

• Mixed

• Command

• Market

The government gets to decide who gets what

• Traditional

• Command

• Mixed

• Market

In a command economy, who holds power over the economy?

• The people

• The government

• Beyonce

• The traditions of your ancesetors

Businesses have freedom to produce whatever they think consumers will buy

• Market

• Command

• Mixed

• Traditional

Both supply and demand and the government influence how resources are used to make goods and services.

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

Most countries in the world have a ___________________ economy.

• Traditional
• Command
• Mixed
• Market

Which economic system is both market and command combined and most democratic countries fall into this category?

• Traditional

• Command

• Market

• Mixed