Types of Government and Economic Systems Practice

What is the best definition for the word ECONOMY?

• Meeting place or mechanism that allows buyers and sellers to come together

• Organized way in which society provides for the wants and needs of its people

In my country, the government makes all the economic decisions.

• Traditional

• Command

• Market

• Mixed

,In my country, the government tells me where to work.

• Traditional

• Command

• Market

• Mixed

In my country, there is little economic growth because we do not use any new technologies.

• Traditional

• Command

• Market

• Mixed

In my country, central planners decide when we should expand old factories and build new ones.

• Traditional

• Command

• Market

• Mixed

What is a free market economy?

• An economy based on supply and demand with little or no government control

• The international exchange of goods

• An economy in which decisions are made by the government

• An economy that is communist

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

• Traditional

• Command

• Market

• Mixed

In my country, the government has some involvement in the economy.

• Traditional

• Command

• Market

• Mixed

In a ________ economy, the government makes all of the major economic decisions.

• Mixed

• Market

• Command

• Traditional

In a ___________ economic system, customs and traditions determine what and how to produce

• mixed

• traditional

• market

• command