economic systems

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

• 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 of the following is an economic system in which the government and people are used to decide how to use scarce resources?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The government has little to no role in the production of goods in this type of economy.

• Traditional

• Mixed

• Command

• Market

,In my country, the government tells me where to work.

• Traditional

• Command

• Market

• Mixed

Select all that apply.

The features of a communist economy more than likely will include-

• Private ownership of businesses

• Government planning on all major decisions

• Provide public services to meet basic needs

• Equal wage distribution

• Limited government intervention

What type of economy do most countries in the world have?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The government has little to no role in the production of goods in this type of economy.

• Traditional

• Mixed

• Command

• Market