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WorksheetsEconomic system
Total questions: 15
Worksheet time: 9mins
................is a means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country.
Economic system
Component of an economic system
Balance sheet
Types of economic system
The components of an economic system are:
Goods and services, Economic system
Economic activity,depending on its nature
Goods and services, Economic agent, Productive factors
Agricultural sector,agricultural sector, Corruption system
The traditional economic system is based on the concept of free markets.
False
True
..................... combine the characteristics of the market and command economic systems.
Tradicional economic system
Mixed system
Command economic system
Market economic system
In a command system, there is a dominant, centralized authority – usually the government – that controls a significant portion of the economic structure.
Tradicional economic system
Command economic system
Mixed economic system
Market economic system
In market economic systems
Usually the government that controls a significant portion of the economic structure.
There is very little government interference.
It relies a lot on people, and there is very little division of labor or specialization
The main problems it tries to answer are
Who is the production for?
How we produce those goods and service?
What goods and services should we produce and in what quantity?
None of the above
Advantages of Tradicional Economic System:
hey do lack access to advanced medicine
hey do lack access to technology
Each member of a traditional economy has a more specific and pronounced role and These societies tend to be very close-knit and socially satisfied.
These societies tend to be very close-knit and socially satisfied.
Advantage of Command Economic Systems:
If executed correctly, the government can mobilize resources on a massive scale.
False
True
Disadvantages of Tradicional Economic System
hey do lack access to technology, hey do lack access to advanced medicine
Each member of a traditional economy has a more specific and pronounced role
These societies tend to be very close-knit and socially satisfied.
Command Economic Systems
-If executed correctly, the government can mobilize resources on a massive scale. This mobility can provide jobs for almost all of the citizens.
Advantage
Disadvantage
That is, all those goods and services that satisfy our needs is the meaning of:
Productive factors
Economic agents
Goods and services
Economic system
Economic agents is:
The economic agents are companies, families and the State.
They are land, work and capital.
That is, all those goods and services that satisfy our needs.
This economic activity, depending on its nature
Productive factors: They are land, work and capital.
True
False
what are the 3 factors of the economic system?
primary or agricultural sector
secondary or industrial sector
tertiary or services sector
None of the above
