Economics Types

In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.

• Traditional

• Command

• Market

• Mixed

In my country, central planners decide when we should expand old factories and build new ones.

• Traditional

• Command

• Market

• Mixed

In my country, I know that all my needs will be met, but not my wants.

• Traditional

• Command

• Market

• Mixed

In my country, the government has some involvement in the economy.

• Traditional

• Command

• Market

• Mixed

What is a Economic system?

• An Economic system is a system of games in a country.

• An economic system describes how a country’s economy is organized.

• An economic system describes how much weapons a country has.

Click the four type of Economic systems?

• Market

• Mixed

• Command

• Traditional

• marcommand.

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

What type of economic system is based on customs and beliefs?

• Market
• Mixed
• Traditional
• command

A _________ economy is a market-based system in which the government is involved to some extent.

• Traditional

• Planned/command

• Mixed

• Free Market

Factors of production that are used in the making of goods and services

• scarcity

• choice

• incentives

• resources