Types of Economic Systems

Question 1

The price of stock varies depending on the law of supply and demand. What economy is this?

Accepted Answer

Market

Question 2

Thailand is known for pricey handbags made of Mudme silk which are imported all over the world.

Accepted Answer

For whom to produce it?

Question 3

The city of Baltimore funds a variety of homeless shelters.

Accepted Answer

For whom to produce?

Question 4

Supermarkets in England have installed self-checkout lanes and have fired cashiers to save $$$.

Accepted Answer

How to produce it?

Question 5

North Korea has a program for developing nuclear weapons.

Accepted Answer

What to produce?

Question 6

In China, fisherman use birds to catch fish, just like their ancestors. What economy?

Accepted Answer

Traditional

Question 7

The gov't of Mexico tells factories to increase their use of assembly lines to make more cars.

Accepted Answer

How to produce it?

Question 8

No matter where you go in the world, what economic system will be present in that country?

Accepted Answer

Mixed

Question 9

America's government tells Tyco how to build submarines. What economy is this?

Accepted Answer

Command

Questions 9