Economic Systems

Front

What economy is made up of customs, beliefs, religion (farming, ways of the past, ancestors, etc)? Options: traditional, market, command, mixed

Back

traditional

Front

In what type of economy does the government have control of everything?

Back

command

Front

What type of economy is based on supply and demand? Businesses/private citizens have control over what they sell/buy and who they sell to.

Back

market

Front

All democratic countries have this type of economy. Hint: USA has this type of economy.

Back

mixed

Front

Communist countries like the former Soviet Union, former East Germany and Cuba had which system of economy? Options: traditional, market, command, mixed

Back

command

Front

What type of economy do communist countries like Cuba have, where the government controls all businesses?

Back

command

Front

A group of people that pass down traditions and are hunters and gatherers have what type of economy? Options: traditional, market, command, mixed

Back

traditional

Front

Which place is the closest to a pure command economy?

Back

Cuba

Front

Which place is closest to a pure market economy? Options: Cuba, Russia, Australia, U.S.A.

Back

Australia

Front

In a command economy, who has the most control?

Back

government