Types of Economy

Label A on the economic continuum is what type of economy?

a

Market

Command

Mixed

Label C on the economic continuum is what type of economy?

b

Command

Mixed

Market

Label C on the economic continuum is what type of economy?

c

Command

Mixed

Market

Market economies use ​ (a)   and ​ (b)   to guide economic decisions.

• supply
• demand
• government input
• customs
• habits of the past

Match the following countries to the correct type of economy.

• Germany

• Command Ecocomy

• United Kingdom

• Market Economy

• Brazil

• Mixed Command Economy

• Cuba

• Mixed Market Economy

• Mexico

• Mixed Economy

What economic system barters for goods because there isn't currency?

• Traditional Economy

• Command Economy

• Mixed Economy

• Market Economy

In a ______________, the government makes all the basic economic decisions.

• Traditional Economy

• Command Economy

• Mixed Economy

• Market Economy

A __________________ is the most common type of economy in the world.

• Traditional Economy

• Command Economy

• Mixed Economy

• Market Economy

In this type of economy, the peoples roles/jobs are determined by their ancestors.

• Traditional

• Command

• Mixed

• Market

This economy does not allow free enterprise, or competition between products.

• Traditional

• Command

• Mixed

• Market