Social Studies Week 8

An ___________ system is the way communities and governments organizes resources, goods, and services.

• government

• ecological

• economic

• geologic

When the government controls economic activity it is called a ____________ economy?

• command

• traditional

• capital

• competitive

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

An example of 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?

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 . . .

• command econommy

• traditional economy

• capital economy

• consumer economy

What economic system has owners in the market?

• command

• traditional

• capitalism

The government fixes the prices.

• traditional

• command

• capitalism

Barter and trade with each consumer for goods and services.

• Command

• Traditional

• Capitalism

Under capitalism, business must compete with one another for

• producers

• consumers

• buyers

• sellers