European Economics

What are the four types of economies?

• Tribal, Governmental, Market, and MIxture

• Traditional, Command, Market, and Mixed

• Store, Tsar, Mixture, and Tribal

• Traditions, Commanders, Markets, and Mixtures

In what economy are all resources shared?

• Traditional

• Command

• Market

• Mixed

In what economy are all the resources owned or regulated by the government?

• Traditional

• Command

• Market

• Mixed

In what economy are resources owned by individuals?

• Traditional

• Command

• Market

• Mixed

In what economy are the resources balanced between government and individual ownership?

• Traditional

• Command

• Market

• Mixed

What are the three economic questions every country must answer?

• What to do, How to do it, and Who to do it for?

• Where to go, How to get there, and Who to send there?

• What to produce, How to produce it, and Whom to produce for?

• Who to vote for, How to vote for them, and Why they should vote?

In a command economy who answers the three main economic questions?

• individuals

• the government

• the group

• both the government and the individuals

In a market economy who answers the three main economic questions?

• individual

• the government

• both the government and the individual

• the group

In a mixed economy who answers the three main economic questions?

• the individual

• the government

• both the individual and the government

• the group

In a traditional economy who answers the three main economic questions?

• the individual

• the government

• both the individual and the government

• the group