Types of Economics

Under a command system, who owns the factors of production?

• Consumers

• Government

• Elders

• Businesses

If the government makes me produce 70 T-Shirts, what economic system is this?

• Mixed

• Command

• Traditional

• Market

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed

• Market

• Traditional

• Command

My father was a fisherman, I am a fisherman and my son will be a fisherman.

• Market

• Traditional

• Mixed

• Command

Each type of economies answers the three basic questions of economics __________.

• the same

• differently

In my country producers decide what and how much to make based on what people want to buy.

• Traditional

• Market

• Command

• Mixed

In my country, there is little economic growth because we do not use any new technologies.

• Traditional

• Command

• Mixed

• Market

doing work for others

• socialism

• secret

• service

• good

What resource is this a picture of?

• Human Capital

• Natural Resource

• Entrepreneur

• Capital Good

In which economic system is the economy COMPLETELY controlled by the government?

• capitalism

• socialism

• communism

• anarchism