Duplicate of Types of Economic Systems

Question 1

Also called capitalism

Accepted Answer

Free Market

Question 2

Democrats historically shift the American economy from mixed closer to free market

Accepted Answer

False

Question 3

How many economic questions are there according to chapter two section 1?

Accepted Answer

3

Question 4

Where does China fall under the economic continuum

Accepted Answer

Centrally Planned

Question 5

What to produce? is an economic question

Accepted Answer

True

Question 6

Singapore falls under this part of the economic continuum

Accepted Answer

Free Market

Question 7

Economic decisions are based soley on individuals

Accepted Answer

Free Market

Question 8

Relies on customs, habits, or rituals

Accepted Answer

Traditional

Question 9

Another term for a mixed economy

Accepted Answer

Modern

Question 10

No true free market or traditional economy exists?

Accepted Answer

True

Question 11

These societies stay relatively close and small

Accepted Answer

Traditional

Question 12

Revolves around family

Accepted Answer

Traditional

Question 13

A combination of all economies

Accepted Answer

Mixed

Question 14

Most modern societies are this type

Accepted Answer

Mixed

Question 15

Associated with communism and socialism

Accepted Answer

Centrally Planned

Question 16

Mexico falls under this part of the economic continuum

Accepted Answer

Mixed

Question 17

The government decides how to answer the key economic questions

Accepted Answer

Centrally Planned

Question 18

Also called a command system

Accepted Answer

Centrally Planned

Question 19

The government provides services but the economy is mostly driven by individuals/business

Accepted Answer

Mixed

Question 20

Offers the widest variety of goods and services

Accepted Answer

Free Market

Questions 20