Economy of Europe Part 1 (Economic Terms Introduction)

Which type of government typically has a command economy?

There are tribes in Russia that still use a traditional economy.

Which is NOT a country that is/was close to being a command economy?

Most European countries have mixed economies that are closer to market than command.

Which economic system is based on traditional customs and beliefs of the past that have been passed down?

The citizens make all of the economic decisions in a command economy.

Which economic system has NO government control?

MOST countries have a combination of the economic systems. What is this called?

Traditional, Command, Market, and Mixed are all economic systems.

Which is NOT one of the three basic economic questions?

What does an economic line of continuum show?

Which is NOT a characteristic of a market economy?

Which economic system has very strict government control?