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4 types of Economies Flashcards | StudBud
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4 types of Economies
4 types of Economies
25 terms
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StudBud Administration
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1,676 plays
Traditional, Command, Mixed, and Market
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
What economy has no competition?
Mixed
Command
Traditional
Market
2
What economy works for small countries?
Traditional
Market
Command
Mixed
3
No wealth
Traditional
Mixed
Market
Command
4
Goods and services go to those with the most money
Mixed
Command
Traditional
Market
5
A lot of wealthy people/A lot of poor people
Market
Traditional
Mixed
Command
6
Government has some control for benefit of citizens
Command
Mixed
Traditional
Market
7
What kind of economy is based on "how its always been done"?
Market
Mixed
Command
Traditional
8
North Korea Has what kind of economy?
Command
Traditional
Market
Mixed
9
Cuba is and example of what economy?
Traditional
Market
Mixed
Command
10
France has what kind of economy?
Traditional
Mixed
Command
Market
11
Little modern technology
Command
Mixed
Market
Traditional
12
What is a market economy?
mixing together of supply and demand
people make all econ decisions according to supply & demand
where people supply most of the goods and services they use
government controls the factors of production
13
Hunting, fishing, gathering, and hunting
Command
Mixed
Traditional
Market
14
Supply and Price regulated by goverment
Mixed
Command
Market
Traditional
15
Low crime rate
Market
Traditional
Mixed
Command
16
What is a Command Economy?
where government controls the factors of production
people make all econ decisions according to supply & demand
mixing together of market and command
where people supply most of the goods and services they us
17
Low standard of living
Command
Mixed
Market
Traditional
18
People have economic freedoms
Traditional
Command
Mixed
Market
19
Citizens own FOP
Mixed
Market
Traditional
Command
20
The US has what kind of economy?
Mixed
Market
Command
Traditional
21
What is a mixed economy?
mixing together of market and command
government controls the factors of production
where people supply most the goods and services they use
people make all econ decisions according to supply & demand
22
What economy has never been seen?
True Command
True Market
True Mixed
True Traditional
23
Rich get richer
Mixed
Command
Market
Traditional
24
What economy is self-sustaining?
Mixed
Command
Market
Traditional
25
What is a traditional economy?
mixing together of market and command
government controls the factors of production
where people supply most of the goods and services they use
people make all econ decisions according to supply & demand
