Economic Systems Review

What type of economic system is totally controlled by the government

• Traditional Economy

• Market Economy

• Command Economy

• Mixed Economy

What economic system is a combination of a Market/Capitalist and Command/Communist economy?

• Traditional

• Market

• Command

• Mixed

What type of economy is best represented in this image?

• Traditional

• Market

• Command

• Mixed

Which economic system relies upon freedom of choice for how to use the factors of production?

• Traditional

• Market

• Command

• Mixed

Which person is most associated with a Market/Capitalist economy?

• Karl Marx

• Adam Smith

• Mao Zedong

• Joseph Stalin

Which economic system is best represented by this image?

• Traditional

• Market

• Command

• Mixed

Which person is most connected to a Command/Communist economy?

• Adam Smith

• Karl Marx

• Bill Gates

• Elon Musk

Which type of economic system BEST attempts to distribute goods and services equally?

• Traditional

• Market

• Command

• Mixed

Most countries today use which economic system?

• Traditional

• Market

• Command

• Mixed

Which of the following is NOT one of the economic questions all economies need to answer?

• What to produce

• How to produce it

• Who makes it

• Who gets it