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Types of Economic Systems- NE Flashcards | StudBud
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Types of Economic Systems- NE
Types of Economic Systems- NE
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18
Answers
1
Workers sometimes lack incentive to work hard or are lazy in which type of economic system?
Market/Capitalist Economy
Traditional Economy
Command/Communist Economy
Mixed Economy
2
What type of economic system is BEST represented by this image?
Market/Capitalist Economy
Traditional Economy
Mixed Economy
Command/Communist Economy
3
What type of economic system is BEST represented by this image?
Market/Capitalist Economy
Traditional Economy
Mixed Economy
Command/Communist Economy
4
What type of economic system is BEST represented in this image?
Command/Communist Economy
Traditional Economy
Mixed Economy
Market/Capitalist Economy
5
What economic system is about freedom and choice to use money and resources however you want?
Command/Communist Economy
Traditional Economy
Market/Capitlist Economy
Mixed Economy
6
Switching types of economic systems is usually easy for a country or person. TRUE OR FALSE?
True
False
7
What type of economic system is totally controlled by the government?
Market/Capitalist Economy
Traditional Economy
Command/Communist Economy
Mixed Economy
8
What type of economic system is based largely on agriculture and trading of goods and services?
Traditional Economy
Mixed Economy
Command Economy
Market/Capitalist Economy
9
Which type of economy BEST attempts to distribute goods and services equally?
Market/Capitalist Economy
Mixed Economy
Traditional Economy
Command/Communist Economy
10
Which type of economy BEST allows some people to become very rich while others may be poor?
Mixed
Command/Communist Economy
Market/Capitalist Economy
Traditional Economy
11
What type of economic system is BEST represented by this picture?
Market/Capitalist Economy
Command/Communist Economy
Traditional Economy
Mixed Economy
12
Which of these was our historical example of a Command Economy?
Soviet Union under Communism
Feudalism in Europe
U.S. during the Gilded Age
13
What economic system is a combination of Market/Capitalist and Command/Communist economies?
Traditional Economy
Command/Communist Economy
Mixed Economy
Market/Capitalist Economy
14
Which economy fairly stable, since people what their parents did, generation after generation?
Mixed Economy
Market/Capitalist Economy
Traditional Economy
Command/Communist Economy
15
Most countries in the world today are what type of economic system?
Traditional Economy
Mixed Economy
Command/Communist Economy
Market/Capitalist Economy
16
What is the oldest types of economic system?
Mixed Economy
Market/Capitalist Economy
Command/Communist Economy
Traditional Economy
17
"A way of deciding what to produce and how it is distributed." This is a definition of ...
capital
bartering
communism
economic system
18
Which of these was used as our historical example of a Traditional Economy?
Soviet Union under Communism
Feudalism in Europe
U.S. during the Gilded Age
