Social Studies Weekly 5th Grade Economic Systems

A/An __________ system is the way communities and governments organize resources, goods, and services.

• government

• ecological

• economic

• geological

__________ often determine the type of economic system a country uses.

• Governments

• Churches

• Schools

There are __________ common types of economic systems.

• one

• two

• three

__________ economies are the oldest economic systems in place.

• Traditional

• Command

• Market

In a traditional economic system, __________ is inherited.

• jewerly

• livestock

• land

In __________ economies, the government controls economic activity.

• traditional

• command

• market

Command economies are often seen in countries with many __________.

• smart people

• landowners

• resources

In a command economy, who decides who will receive resources and products?

• buyers

• sellers

• government

Most economies are a mixture between a market economy and a __________ economy.

• traditional

• command

• incentive

__________ is an economic system where businesses are owned by private companies or people.

• Traditionalism

• Communism

• Capitalism