Types of Economic Systems Practice

Traditional Economy Involves bartering or trading

• false

• true

A command economy is

• Based on its citizens

• controlled by the government

• run by trading and bartering

• a mix between traditional and free enterprise

what economy is a combonation of a market and command economy?

• traditional

• mixed

• Yes

• Command

Which economic system is based on customs and beliefs, people will do the same work as their parents, and the exchange of goods is through bartering (no money)?

• Traditional

• Command

• Market

• Mixed

Which of the following BEST describes a market system?

• The government provides services, such as telephones and television.

• A person can start any legal business and charge any price.

• The government provides food and housing to all workers.

• Businesses are owned by the government.

In my country my job is the same one that my family has done over the past 200 years.

• Traditional

• Command

• Market

• Mixed

What are the 3 economic questions?

• What to produce? How To Produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?