ONQ Economic Systems

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 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.

which country in the world has the closest market economy?

• North Korea

• The United States

• Brazil

• Germany

(true or False) Most democratic countries fall into mixed economy category.

• True

• False

Trading something for something else - no currency involved

• demand
• barter
• goods
• market

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

another word for money

• barter
• economics
• currency
• price

The making, buying and selling of goods and services

• economics
• inflation
• market
• barter