Economic Systems

In a Command economy, the wealth is distributed evenly among citizens.

• True
• False

Answer explanation

In countries like Cuba, nobody is richer than the other. They are all at the same stage financially.

The doctor and the Janitor make the same money.

In a "pure" Planned system, who are the wealthiest and most powerful people?

• Intellectuals
• Business leaders
• Military leaders
• No One--every member of society is supposed to be equal

The founder of command economic system is

• Adam Smith
• John Locke
• Karl Marx
• Rousseau 

In a communist/command society...

• the government controls the means of production

• the individual owns the means of production

• wealth is distributed evenly amongst society

• there is no wealth or private property

Property is owned by the state

• Communism
• Capitalism

The United States is this type of system

• Mix of socialism and capitalism (mixed economy)

• Purely free market

• Purely Command

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What are the 3 economic questions?

• What to produce? How To Produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?
• What to produce? How to produce? When to produce?

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

• Market economy
• Command economy
• Traditional economy
• Mixed economy