economic systems

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

A command economy is when the government is in control.

• True
• False

Which type of economic system bases its decisions on custom?

• Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

Which type of economy has central ownership and lack of individual choice?

• Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

Which type of economy is controlled by the government?

• Command

• Market

• Mixed

• Democratic

Which type of economy is run by the businesses & business owners?

• Command

• Mixed

• Communist

• Market

Government owns resources and controls production, prices, and wages.

• traditional

• command

• market

• mixed

Individuals own most resources and determine what and how to produce.

• traditional

• command

• market

• mixed

Which type of economy has central ownership and lack of individual choice?

• Market Economy
• Mixed Economy
• Command Economy
• Traditional Economy

Which type of economy is based on traditions and beliefs?

• Command
• Market
• Traditional
• Mixed