Front

If a country's government is communist, it will have this kind of economic system.

Back

Command economic system

Tags

SS7E7

Front

Lots of bartering/trading take place in this type of economic system.

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traditional economic system

Front

In a market system, the three economic questions are answered based on this: Supply and demand, Consumer's traditional values.

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Supply and demand

Tags

SS7CG1

Front

Most countries in Europe have this kind of economy that leans closer to a pure market economy than a command economy.

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Mixed economy

Tags

SS7E7

Front

This European country's government controls many of its resources and is very active in the economy.

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Russia

Tags

SS7E7

Front

This European government plays a role in the economy by collecting high taxes to help the poorer citizens. The government also sets the price of some goods and services.

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Germany

Tags

SS7E7

Front

This European country's government plays a very limited role in the country's economic planning.

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United Kingdom

Tags

SS7E7

Front

Which of the following is NOT one of the three economic basic questions: What to produce?, Whom to produce it for?, How to produce it?, Where to produce it?

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Where to produce it?

Tags

SS7E7

Front

If a country has more than one type of economic system, what do you call this?

Back

Mixed Economy

Tags

SS7E7

Front

When it comes to economics, what is bartering?

Back

Exchange of goods or services without money

Tags

SS7E7