U.S. Economy

Most countries today have which type of economic system?

• Mixed
• Market
• Traditional
• Command

Which economic system has the least amount of government involvement in decision making?

• Mixed
• Market
• Command
• Traditional

The government of the Soviet Union provided food for its citizens.  However, the food was often in short supply, had little variety, and was of poor quality.  What type of economy was the Soviet Union?

• Mixed
• Market
• Command
• Traditional

The amount of money you make after all expenses have been paid is called what?

• Profit
• Competition
• Private Property
• Free Markets

A command economy is

• when the people determine economic decisions.

• when someone tells the economy what to do.

• when the government makes all the economic decisions.

• I don't know.

A free market economy is

• when the people determine economic decisions.

• when no one tells the economy what to do.

• when the government makes all the economic decisions.

• I don't know.

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command

Who or what answers the basic economic questions in a free market economy?

• Individuals and Businesses
• Government
• Custom
• Individuals, Businesses, and Government

things purchased by consumers

• goods

• consumer

• producer

• supply

money paid to the government through income, sales, and purchase of property

• taxes

• goods

• scarcity

• human resource