Economic Systems

What system involves having the government make most economic decisions?

Which system allows for no ownership of private property?

Which economic system is based on following established customs?

(Challenge) Suppliers in a product market are

Which of the following is an advantage of command economies?

What economic system is based mainly on personal choice?

"Does not try to ensure maximum productivity" is a disadvantage of what economic system?

In a market economy the real power is held by

(Challenge) The idea that consumers hold ultimate control over what is produced is called

(Challenge) Who developed the ideas of communism?

"Centrally Planned" is another term for what economic system?

The term "laissez faire" means

(Challenge) Businesses are customers and individuals are producers in the

The government owns some, but not all basic resources under which system?

(Challenge) In capitalism, investment is driven by