Economics Review

In this type of economy, the people decide the supply, demand, and price.  

• Market 
• Traditional
• Command 
• Mixed

This type of economy is passed down through family traditions. They learn from their parents. 

• Traditional 
• Market 
• Mixed 
• Command 

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

• Market

• Mixed

• Command

• Traditional

Which type of economy is usually paired with a Communist government?

• Mixed
• Market
• Command
• Traditional

Capitalism is in what type of economy?

• Traditional

• Command

• Market

• Authortarian

Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively.

• subsistence

• specialization

• scarcity

• bartering

What is a producer?

• a person who gives goods away

• things people would like to have

• the exchanged of goods and services without the use of money

• a person, company, or country that makes grows, or supplies goods for sale

What is a consumer?

• a person who takes things

• a person who purchases goods and services for personal use

• a person who takes good away

• the economic factors affecting the price, demand, and availability of a commodity

What type of economy does the United States have?

• traditional

• mixed

• command

• market

a good made in another country and brought into the United States

• import

• export

• supply