EC 017

Individuals/businesses own the means of production with limited gov. control in a __ economy.  

Governmentowns basic means of production, but there is some private ownership of businesses  

Whichof the following is a potential problem in market economies:

Amajor problem for individuals and private businesses in a socialist commandeconomy is  

Whattype of economic system is used in the United States?

Oneof the reasons that a country needs an economic system is because it 

Whichof the following types of economic systems adopts the fewest new ideas orimprovements:  

Lackof economic growth is a major problem for __________ economic systems

Theway an economic system answers the basic economic questions dependsupon the country’s

Ina communist command economy, who decides how the economic questions will be answered?