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