Economic Systems Pre Quiz

The four types of economic systems are: 

In this type of economy, economic decisions are made in the marketplace according to the laws of supply and demand.

This economic system is also known as the private enterprise system or ____________.

As a consumer in this economy, you

decide where to live, where to shop, and

what to buy.

The United States has this type of economy.

This economy is also called a planned or managed economy.

In this type of economy there is little choice of what to buy.

Cuba has this type of economy.

In this type of economy, government control of the marketplace is minimal.

In this type of economy, goods that aren’t considered necessities like fashion clothing and DVD players are often unavailable.