SW Week 28: Economic Systems

A/an __________ system is the way communities and governments organize resources, goods, and services.

• government

• ecological

• economic

• geologic

Agriculture is the main factor in what type of economy?

• traditional

• market

• command

When the government controls economic activity, it is called a __________ economy.

• traditional

• market

• command

A/An __________ is something that is offered to people to help them make a decision about goods and services.

• economic system

• market system

• economic incentive

• market incentive

Which are examples of positive economic incentive?

• discounts

• coupons

• cash back

• reward points

An example of a negative economic incentive is a...

• coupon

• membership

• fine

• monopoly

Two partners independently own a business that repairs bicycles. They are an example of what kind of economy?

• free market

• capitalism

• command

• traditional

The transportation of people in a country depends on bicycles. Two partners are told by the government to repair bicycles for a fixed price. This is an example of a __________ economy.

• traditional

• market

• command

Someone who creates andfunds a business on their own is called ___________.

• an entrepreneur

• a corporation

• an employee

• a worker

Multiple producers wanting consumers to purchase their product creates __________ in the marketplace.

• competition

• monopoly

• capitalism

• specialization