Duplicate of Economic Systems

Amish villages do not change and produce just for themselves. Which type of economy is this?

Which term best describes an economics system in which the people own land and businesses?

Which of the following best describes a market economy?

Any arrangement that allows buyers and sellers to exchange things is called:

Which shows a traditional economic system?

Concentrating on one activity is known as:

The economic system of communist countries is most closely related to which of the following?

In most centrally planned economies the government determines what gets produced

Which country is the only one that is truly a perfect free market?

Contest for the dollars of consumers is called:

What is a mixed economy?

An organization that uses resources to produce a good or service, which it then sells to consumers is a:

Which is found in a market economy?

The economic system of the United States is most closely related to which of the following?

A government program that protects people facing unfavorable economic conditions:

Which of the following is not one of the basic economic questions answered by a country?

Which country is the only one that has a truly centrally planned economy?

In which economy does the government make all the decisions?

The method used by a society to produce and distribute goods and services is called:

The economic system of the Soviet Union falls into which category?

What does a centrally planned economy oppose that a free market economy encourages?

In the circular flow, goods, services, resources and money always flow in the same direction.

Money a business earns after expenses is called:

In which part of the circular flow would wages be paid to an employee?

Which of the following is characteristic of traditional economies?