Economic Systems Part 1

Producers and consumers make all the economic decisions in which economic system?

Which economic system is based on customs of the past?

A tax on goods coming into the country is called

The U. K. can be described as having Mixed economy which is closer to market than command

This economic systems includes free enterprise with some government control.

The 3 questions that must be answered by the economic system are

A limit on foreign goods coming into the country is called

Which of the three countries enjoys the least amount of economic freedom?

There are no pure market economies.

UK’s government plays a limited role in the country’s economy. Citizens have a lot of economic freedom.

Which of the three countries enjoys the greatest amount of economic freedom?

What are the 3 basic economic systems?

Which system is a combination of the 3 primary economic systems and is the most-used today?

The government controls all aspects of the economy in which system?

Most democratic countries have characteristics of __.