Role of Government in Economy

In this type of economy, the government places control on businesses, but the individual decides what to make. 

• Mixed

• Market

• Command 

• Traditional

an economy in which government leaders give the answers to the three economic questions

• traditional economy

• democracy

• socialism

• command economy

This economic system is controlled by the government.

• Traditional

• Command

• Market

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

• Traditional 

• Market 

• Command 

• Mixed

A shared good/service that government builds because it would be impractical for an individual 

• private good

• public good

• military good

• market failure

Match the following

• Believers that the private economic markets can best run the economy.

• Economy

• the wealth and resources of a country or region in terms of the production and consumption of goods

• Liberals

• Supporters of government involvement in a problem.

• Conservatives

Since the 1880's, the role of government in the United States has ________________.

• decreased

• been eliminated

• increased significantly

• had no impact on the economy

Match the following

• Too much

• Bureaucracy

• The belief that the government plays a large role in amatter.

• Big Government

• Believe the government's role should be limited.

• Conservatives

• A system that has too many steps and as a result works slowly.

• Excessive

The United States government enforces anti-trust laws to -

• discourage monopolies.

• limit competition.

• increase taxes.

• provide additional public goods and services.

What government agency enforces anti-trust laws and protects consumers from unfair business practices?

• Federal Communications Commission (FCC)

• Federal Trade Commission (FTC)

• Securities and Exchange Commission (SEC)