Economic Systems Flashcards

1

An economic system where tribal elders allocate resources

2

Which of these countries is the closest to having a pure market economy?

3

When companies get together to set a price for their product

4

The government's role in a market economy:

5

How many holes does MR ALI say a straw has?

6

When a company sells a product at a loss to drive out competition

7

An economic system where buyers and sellers make all the decisions

8

Which of these bands was NOT in Mr. Ali's top 4

9

An economic system where a government planner makes all the decisions

10

What is the definition of an economic system?

Economic Systems