Economic Systems

The government makes all economic decisions.

• market

• traditional

• command

• scarcity

If your parents were peanut farmers, then you would be a peanut farmer also.

• mixed

• command

• market

• traditional

Most democratic countries are this..

• mixed

• command

• traditional

• supply and demand

Cuba and North Korea are close to having this type of system.

• market

• command

• traditional

• mixed

Businesses (run by private citizens) determine what goods/services are produced and how they will be made.

• communist

• command

• traditional

• market

Bartering is used in which economic system.

• Command

• Market

• Traditional

• Mixed

Communist countries are closely related to this economic system.

• Command

• Market

• Traditional

• Mixed

Businesses make economic decisions, but the government regulates (makes laws) them to make sure they're safe/fair.

• Traditional

• scarcity

• Command

• Mixed

What is an example of a natural resource?

• furnace

• education

• forests

• automobiles

What are entrepreneurs?

• businesses owned by the government

• people who start their own business

• businesses that are successful

• people who go to school