REVIEW: Types of Economies

What is depicted in this picture?

The rivalry among buyers and sellers for goods and services is known as

The most common type of economy in the world is...

Which best explains how traditional economies exchanged goods? 

What type of economy does the United States have?

What are the three basic questions that every economic system must answer?

You can own a business, but the government might control parts of it.

An economy based on custom where families produce enough for their own survival.

In this type of economy, all economic decisions are made by individuals.

In a nation operating under a command economy, the Three Questions of economics are decided by