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Duplicate of Economic Systems Flashcards | StudBud
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Duplicate of Economic Systems
Duplicate of Economic Systems
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StudBud Administration
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Economic Systems Quiz - CE: 11b
Flashcards
10 cards
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Questions
10
Answers
1
Considered synonymous with either a communist or socialist economy.
Market
Mixed
Traditional
Command
2
Characterized by very low unemployment rate.
Market
Traditional
Mixed
Command
3
Considered synonymous with a capitalistic economy.
Command
Market
Mixed
Traditional
4
An economic system that combines elements of all the other basic systems.
Command
Traditional
Market
Mixed
5
Individual freedom is limited.
Mixed
Market
Traditional
Command
6
An economic system heavily influenced by habits, customs, and religious beliefs.
Market
Command
Traditional
Mixed
7
Government owns natural and capital resources.
Traditional
Market
Command
Mixed
8
Privately owned factors of production
Traditional
Mixed
Command
Market
9
Prices are influenced by supply and demand.
Traditional
Mixed
Market
Command
10
Individual purchasing decisions determines the types of products and services offered.
Command
Market
Mixed
Traditional
