Unit 3 Economics Summative Review

Government makes most economic decisions.

• Market

• Command

• Traditional

• Mixed

Market and command combined.

• Traditional

• Command

• Market

• Mixed

Economic decisions based on beliefs and traditions.

• Market

• Mixed

• Traditional

• Command

Government plan determines what is produced.

• Market

• Mixed

• Command

• Traditional

Consumers decide what goods and services are produced.

• Command

• Traditional

• Mixed

• Market

Government sets safety standards and has price controls to protect the worker but allows for private ownership

• Mixed

• Market

• Traditional

• Command

Which countries are the most command and market?

• Russia and United States

• Cuba and Australia

• Germany and United Kingdom

• Russia and Cuba

Which is NOT a basic economic question?

• For whom to produce

• How to produce

• What to produce

• Where to produce

An economic system that allows individuals to start businesses, but still has government regulations is

• Traditional

• Market

• Command

• Mixed

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