D. Digital Exit Ticket - Types of Economic Systems

People sell their crops in village markets for items they need

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

Buyers and sellers make all the financial decisions

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

Supply and demand determine how much an item will cost

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

Government controls the factors of production

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

Individuals can own businesses, but the government controls most social services

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

Individuals & entrepreneurs freely control the factors of production

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

Factors of production depend on customs, history, beliefs and values

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

There is no private property

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

People do not decide what to sell or how much to charge for it

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

Limited government involvement while applying free enterprise concepts

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