Political and Economic Systems

Which of the following are the names of the types of economic systems? (Check all that apply)

• Traditional

• Universal

• Command

• Market

Which economic system is based on customs and beliefs, people will do the same work as their parents, and the exchange of goods is through bartering (no money)?

• Traditional

• Command

• Market

• Mixed

Which economic system does the government make all economic decisions and owns most of the property - it is sometimes called communism?

• Traditional

• Command

• Market

• Mixed

Which economic system are all resources privately owned and the buyers and sellers answer the three economic questions?

• Traditional

• Command

• Market

• Mixed

Which economic system is both market and command combined and most democratic countries fall into this category?

• Traditional

• Command

• Market

• Mixed

Which economic system is it when people decided what to produce, people decide how to produce, and people only produce goods and services for themselves and trading purposes?

• Traditional

• Command

• Market

• Mixed

Which type of economic system is it when the government decides what to produce, the government decides how to produce, and the government decides who gets the goods produced?

• Traditional

• Command

• Market

• Mixed

Which type of economic system does Cuba and North Korea have?

• Traditional

• Command

• Market

• Mixed

What type of economic system do some small tribes in Africa and South America, and North America have?

• Traditional

• Command

• Market

• Mixed

A rule by a few.

• Dictatorship
• Absolute Monarchy
• Oligarchy