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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
19 terms
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StudBud Administration
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2,940 plays
A review of economic systems.
Flashcards
19 cards
F
Practice quiz
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Host live
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Questions
19
Answers
1
Little government interference.
Traditional
Market
Command
2
Can change directs drastically.
Traditional
Market
Command
3
What type of economic system is in this photo?
Command
Market
Traditional
4
Ignores the basic wants and needs of people.
Traditional
Command
Market
5
Stems from tradition, ritual or habit.
Traditional
Market
Command
6
Most countries have this type of economic system.
Mixed
Traditional
Command
Market
7
North Korea
Traditional
Market
Command
8
Individual freedom is limited.
Command
Market
Traditional
9
Government tells people what to do.
Traditional
Market
Command
10
Discourages new ideas.
Command
Traditional
Market
11
What economic system is in this photo?
Command
Market
Traditional
12
Lack of flexibility to deal with day to day problems.
Traditional
Command
Market
13
Japan, United States, South Korea
Command
Market
Traditional
14
You are born into your job
Traditional
Command
Market
15
Aborigines, Mbuti
Traditional
Command
Market
16
People do not own their own homes, businesses, or productive resources.
Traditional
Command
Market
17
People are not free to make decisions elders and ancestors make the decisions.
Command
Traditional
Market
18
A great deal of freedom
Traditional
Market
Command
19
What type of economic system is in this photo?
Traditional
Market
Command
