Economics and Canada- USA

Economy that individuals own most of the resources

• Free enterprise (market)

• Command/Communist

• Traditional/Socialist

Economy with minimal government regulation

• Free enterprise (market)

• Command/Communist

• Traditional/Socialist

Supply and demand determines the market price

• Free enterprise (market)

• Command/Communist

• Traditional/Socialist

Economy where factors of production are controlled by the government

• Free enterprise (market)

• Command/Communism

• Socialist/Traditional

Economy in which government sets prices

• Free enterprise (market)

• Command/Communism

• Traditional/Socialist

Which type of economy is also known as command?

• Socialist

• Free Enterprise

• Communist

• Traditional

Which economic system creates competition and better prices

• Communist/Command

• Socialist

• Free enterprise (market)

Which economic market allows individuals to have choice

• Socialist only do it for the community

• Communist only work for government

• Free enterprise work for their goals/$

Which economy type works for tradition and usually the tribe benefits

• Free enterprise (market)

• Command/Communist

• Traditional

Which three countries colonized North America

• British, French, Spanish

• British, Puerto Ricans, Irish

• British, Egyptians, Chinese