What is a key characteristic of a traditional economy?
Types of Economic Systems

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Social Studies, Business
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4th Grade - University
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
High degree of individual freedom
Rapid technological advancement
Reliance on customs and bartering
Government regulation of all businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a command economy, who primarily makes the economic decisions?
International organizations
The government
Private businesses
Individual citizens
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a feature of a command economy?
Free services for citizens
Private business ownership
Guaranteed employment
Government-regulated earnings
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What drives the regulation of the economy in a market economy?
Government policies
International trade agreements
Supply and demand
Cultural traditions
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which advantage is associated with a market economy?
Limited consumer choices
Uniform income distribution
High degree of government control
High degree of individual freedom
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