Command and free-market economy - IG

What is one advantage of a Command Economy?

• Individual freedom for everyone

• Health and public services are available to everyone at little or no cost.

• The government rarely interferes.

• Able to adjust to change gradually

A command economy is also known as a:

• Free enterprise system

• Consumer-driven economy

• Prosperous economy

• Planned economy

A command economy gives people the motivation to work hard:

• True

• False

A Market Economy is based on?

• Goods and Services

• Goods and Products

• Supply and Demand

• Service

What is the main characteristic of a command economy?

• Government control

• Individual control

• Private ownership

• Free market

Which of the following is a disadvantage of a command economy?

• Inequality of wealth distribution

• Limited consumer choice

• Lack of economic freedom

• Lacks efficiency and innovation

What is the primary role of the government in a command economy?

• Promote competition and free market principles.

• Provide social services and welfare programs.

• Encourage private ownership and entrepreneurship.

• Control and make decisions regarding production, distribution, and allocation of goods and services.

Which of the following describes a market economy?

• The government decides to move you and many of your friends to the country so you can study farming

• You notice a lot of people in your neighborhood have dogs so you decide to start a dog walking business

• You grow up in a small village and are a fisherman just like your father and grandfather

• The leader of your country decides you will become a coal miner

Which type of economy has central ownership and lack of individual choice?

• Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command