QUIZ Types of Economic Systems

The government controls all of the factors of production in which type of economic system

• Command
• Mixed
• Market
• Traditional

What type of economic system allows private businesses and individuals to decide what to produce, how to produce and for whom to produce?

• Market
• Mixed
• Command
• Traditional

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 is an economic system where only the government makes the economic decisions?

• Traditional Economu
• Market Economy
• Mixed Economy
• Command Economy

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy.

• Traditional
• Market
• Command
• Mixed

The government has little to no role in the production of goods in this type of economy.

• Traditional
• Mixed
• Command
• Market

This system is associated with the least government involvement.

• Market Economy
• Command Economy
• Mixed Economy

This system is associated with some government-run and some privately-owned businesses.

• Traditional Economy
• Market Economy
• Command Economy
• Mixed Economy

The four types of economic systems are:

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.