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Economic Systems SS7E4 Flashcards | StudBud

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All are economic systems except ........

what is a traditional economy

Economic Systems SS7E4

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Questions 9

Answers

1
what is a traditional economy
All of the above
an economy driven by country's individual citizens
an economy controlled centrally by a government.
an economy controlled by traditions, customs, and beliefs.
2
All are economic systems except ........
Command Economy
Mixed Economy
Free Market Economy
Banking System
3
Command economic system is the government controlling the economic system.
False
True
4
Command Economy Meaning?
one in which a central authority decides what goods will be produced
one in which someones central authority
one in which someones central authoirty to an item
none of the above
5
The two most valuable resources in the Middle East are
Water and cotton
phosphates and oil
oil and natural gas
sulfur and natural gas
6
What to produce in the market economy?
Government decides what will be produce.
shoes and clothe.
Business owned by private citizens based on supply &demand
food and drinks.
7
What is a command economy
an economy controlled centrally by a government.
an economic system combining private and public enterprise.
an economy driven by country's individual citizens
an economy controlled by traditions, customs, and beliefs.
8
What are the types of economic systems?
none of the above
Market and command
Yes.
Exports and imports
9
How many types of Economic Systems are there?
5
4
3
69