E1,E2,E3 Review

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

• Command

• Traditional

• Market

• Mixed

In a command economy, who makes most of the economic decisions?

• Citizens

• Government

• Business Owners

• Consumers

What is an example of a country with a command economy in Latin America?

• Mexico

• Brazil

• Cuba

• Canada

In which economic system are the goods and services made, based on what people want to buy?

• Market

• Command

• Traditional

• Mixed

14. In which country does the government own most of the property and resources?

• Argentina

• Mexico

• Brazil

• Cuba

What is the economic system called where both government and the people play a role?

• Traditional

• Command

• Market

• Mixed

What type of economy does Mexico have?

• Pure Market

• Pure Command

• Mixed

• Traditional

What type of economy do all countries in the world have today?

• Pure Command

• Pure Market

• Mixed

• Traditional

Which of these is an example of a command economy feature in Cuba?

• • People own their own businesses

• The government sets the prices of goods

• Citizens decide what to produce

• Supply and demand determine production

Why do countries engage in voluntary trade?

• To compete with each other

• To sell what they have and buy what they need

• To avoid trading goods

• To stop other countries from exporting