Latin America: Economic Systems

A traditional economy is based on _________________.

• Tradition
• Only supply and demand
• Manufacturing
• Factories

A traditional economy largely depends on _________________.

• Technology
• Skyscrapers
• Airplanes
• Agriculture

In which type of economy does the government make all the decisions?

• Market
• Command
• Republic
• Tradition

A command economy is typically operated by _____________.

• Dictator
• Prime Minister
• President
• Traditions

In a command economy , the people own all the businesses.

• True

• False

Which of the following is a negative aspect of command economies?

• Based on supply and demand
• The citizens often regulate the economy.
• The citizens make all of the money
• The government limits entrepreneurship

Which type of economy does Mexico have?

• Mixed
• Communist
• Command
• Traditional

Mexico has an economy based on _______________.

• Limited trade

• Minimal trade

• Government control

• Trade, manufacturing, services, and finance