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Types of Economic Systems Flashcards | StudBud
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Types of Economic Systems
Types of Economic Systems
10 terms
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StudBud Administration
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398 plays
Students will choose the economy that is described.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Technology is not used in this economy.
mixed
market
command
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2
All economic matters are controlled by the government.
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3
There is a great amount of economic freedom.
market
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4
Religion and customs govern economic decisions
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Market
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5
Government guides and regulates goods and services, but citizens still able to own businesses.
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6
Hunting, fishing and gathering are done the same way as the generations before.
traditional
command
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market
7
Resources are owned by the government.
market
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command
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8
The economy that we have in the United States.
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9
Economic decisions are made by individuals competing for profits.
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market
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10
Sellers can raise and lower prices as they wish and there is NO government involvement.
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market
