Economic Systems

What do economic systems organize within individuals, communities, and countries?

• What goods and services are produced

• How goods and services are produced

• How goods and services are distributed

• All of the above

In a command market economy, what is the primary incentive for producers?

• To satisfy consumers' wants

• To satisfy the government's demands

• To compete with other businesses

• To innovate and create better products

Which of the following is a common outcome of command market economies?

• Higher standards of living

• Lower taxes

• Rampant government corruption

• More choices for consumers

What is a benefit of a free market economy for citizens?

• Less competition among businesses

• Higher levels of government control

• Lower taxes and higher employment

• Limited choices for goods and services