Econ Final

Which letter on the Economic Continuum represents an economy based on high government control?

• A

• B

• C

• D

Which letter on the Economic Continuum represents an economy based on supply and demand?

• A

• B

• C

• D

an economic system that is controlled by the government

• Command Economy

• Mixed Economy

• Traditional Economy

• Market Economy

an economic system that is based on supply and demand

• Command Economy

• Mixed Economy

• Traditional Economy

• Market Economy

an economic system that combines different aspects of economic models

• Command Economy

• Mixed Economy

• Traditional Economy

• Market Economy

To get involved...to change the outcome

• Intervene

• Subsidy

• Modern

• Continuum

the amount of goods and services available and the desire for it

• Intervention

• Supply & Demand

• Subsidy

• Modern

monies granted by government to assist an industry

• Cash

• Amount

• Intervention

• Subsidies

Which type of economies do most modern countries have?

• Main

• Command

• Mixed

• Modern

a blend of command and market economies

• A blend of command and market economies

• Protects private property

• Limited government involvement

• all of the above