Economic Systems

Front

A command economy is when the government is in control.

Back

True

Front

Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?

Back

Mixed economy

Front

What type of economy do most countries in the world have?

Back

Mixed economy

Front

The government has little to no role in the production of goods in this type of economy.

Back

Market

Front

The government gets to decide who gets what

Back

Command

Front

In a command economy, who holds power over the economy?

Back

The government

Front

Businesses have freedom to produce whatever they think consumers will buy

Back

Market

Front

Both supply and demand and the government influence how resources are used to make goods and services.

Back

Mixed Economy

Front

Most countries in the world have a ___________________ economy.

Back

Mixed

Front

Which economic system is both market and command combined and most democratic countries fall into this category?

Back

Mixed