Economic Systems REVIEW

A command economy is when the government is in control.

• True
• False

What is an economic system where only the government makes the economic decisions?

• traditional economy

• free enterprise

• mixed economy

• command/

  communist economy

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

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional

• Market

• Command

• Centrally Planned

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

• Traditional

• Mixed

• Command

• Market

The government gets to decide who gets what

• Traditional

• Command

• Mixed

• Free Enterprise/Market

Based on traditions

• Command

• Traditional

• Free Enterprise

• Mixed

Businesses have freedom to produce whatever they think consumers will buy

• Market

• Command

• Mixed

• Traditional

Business FREEDOM

• Command

• Free Enterprise

• MIxed

• Traditional

In a command economy, who holds power over the economy?

• The people

• The government

• Beyonce

• The traditions of your ancesetors