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