Economic Systems

Front

Nigeria adopts __________ economic system

Back

mixed

Front

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce? Options: Market, Mixed, Command, Traditional

Back

Command

Front

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

Back

Traditional

Front

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.

Back

Traditional, Command, Mixed, & Market

Front

In a command economy, who holds power over the economy?

Back

The government 

Front

What economic system is it if the government mandates the production of 70 T-Shirts?

Back

Socialism

Front

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

Back

Mixed

Front

Which of the following is an economic system in which the government and individuals are used to decide how to use scarce resources? Options: Market economy, Command economy, Traditional economy, Mixed economy

Back

Mixed economy

Front

Laissez-faire means...

Back

Hands off

Front

In a socialist economy, the wealth is distributed evenly among citizens.

Back

True