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4 economic systems Flashcards | StudBud
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4 economic systems
4 economic systems
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StudBud Administration
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4 types of economies
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
In the command economy, government makes ___.
resources
decisions
2
A mixed economy is similar to ____.
free market + traditional
free market + command
3
The free market economy has ____ between businesses.
individuals
competition
4
In a command economy, people do not ____.
eat
decide
work
5
Government controls the __ economy.
command
traditional
6
In the free market economy, ___ own property.
people
government
7
The traditional economy is ___.
services
agricultural
goods
8
Coca Cola or Pepsi? McDonald's or Campero? This is ____.
resources
competition
9
Government directs the __ economy.
command
free market
10
In a free market, ____ decide how to spend money.
consumers
Congress
leaders
11
In a mixed economy, the government makes decisions about the ___ sector.
free
public
private
12
In a mixed economy, people make decisions about ____.
resources
libraries
businesses
13
The __ economy is the most common today.
mixed
traditional
14
In a mixed economy, the government decides about ___ such as education and defense.
goods
services