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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
15 terms
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StudBud Administration
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176 plays
A review of economic systems.
Flashcards
15 cards
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Practice quiz
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Host live
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Questions
15
Answers
1
People are not free to make decisions because elders and ancestors make the decisions.
Market
Traditional
Command
2
What type of economic system is in this photo?
Traditional
Command
Market
3
Most countries, including the USA, have this type of economic system.
Traditional
Mixed
Market
Command
4
Aborigines, Mbuti
Market
Traditional
Command
5
North Korea
Command
Market
Traditional
6
A great deal of freedom because there is no form of government involved in economic system.
None of these systems.
Market
Command
Traditional
7
Government tells people what to do.
Command
Market
Traditional
Mixed
8
What type of economic system is in this photo?
Market
Command
Traditional
9
People do not own their own homes, businesses, or productive resources.
Command
Market
Traditional
10
Ignores the basic wants and needs of people because everything is determined by government.
Command
Traditional
Market
11
Stems from tradition, ritual or habit.
Market
Traditional
Mixed
Command
12
Lack of flexibility to deal with day to day problems.
Command
Traditional
Market
13
Discourages new ideas.
Traditional
Command
Market
14
No government interference.
Mixed
Traditional
Market
Command
15
You are born into your job
Traditional
Command
Market
