Econ Unit 2 Review

Click the four type of Economic systems?

• Market

• Mixed

• Command

• Traditional

• marcommand.

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.

What would be an example of a Traditional economy?

• Germany in the 1920s

• A village in South America

• The U.K during world war II.

What type of Governmental systems do Command Economies have?

• Countries with a democratic government.

• countries with communist governments.

• countries with theocratical governments.

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

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?
• What to produce? How to produce? When to produce?

There are four types of economic systems. Most economies are _____.

• Traditional

• Command

• Market

• Mixed

A consumer is... 

• monkey
• the economic factors affecting the price, demand, and availability of a commodity.
• somebody who takes away stuff
• a person who purchases goods and services for personal use.

A producer is...

• a person, company, or country that makes, grows, or supplies goods or commodities for sale.
• A person
• Mars
• the state of being scarce or in short supply; shortage.