Marketing: Economic Systems

A command economy is when the government is in control.

• True
• False

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

• traditional economy

• free enterprise

• mixed economy

• command economy

What type of economy do most countries in the world have?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

The country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

• Traditional

• Market

• Command

• Centrally Planned

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

• Mixed

• Command

• Market

If the GDP falls for at least 2 quarters, it is considered what stage of the business cycle?

• expansion

• recession

• prosperity

• recovery

Based on traditions

• Command

• Traditional

• Market

• Mixed

What are the three economic questions?

• What to produce?

  How to produce?

  For whom to produce?

• Who to produce?

  Why you produce?

  Do you Like to produce?

• Why to produce?

  Tell who to produce?

  Things to produce?

In my country my job is the same one that my family has done over the past 200 years.

• Traditional

• Command

• Market

• Mixed

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

• Traditional

• Command

• Market

• Mixed