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Types of Economies Flashcards | StudBud
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Types of Economies
Types of Economies
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StudBud Administration
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economic systems
Flashcards
15 cards
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Questions
15
Answers
1
There are no real examples of countries that have this type of economy anymore in the world.
tradtional
command
embargo
market
2
What type of economic system does the United States have?
market
mixed
tradtional
command
3
In this type of economy the government decides what to produce.
oligarchy
mixed
command
autocracy
4
When the customs of generations before decide how you will produce goods, you have a...
market economy
traditional economy
confederation
free country
5
In what economic system do consumers decide how to produce goods?
market
command
tradtional
taxes
6
In this economy the consumers make all the decisions
democracy
tradtional
command
market
7
In a market economy, who decides what to produce?
the government
consumers
business leaders
teachers
8
This type of economy is all about supply and demand.
economy
command
market
tradtional
9
Some tribes in the Middle East produce what their parents produced, this is what economy?
command
tradtional
market
democracy
10
In this economy, people follow what their parents have always done.
tradtional
market
generation
free
11
Most countries today have have characteristics of all types of economic. This is called a....
following traditions
embargo
mixed economy
economic blend
12
In Israel's economy, the consumers and the government share control. They have a...
democracy
free market
mixed economy
command economy
13
In Saudi Arabia, the government controls what to produce. They have a...
autocracy
command economy
mixed economy
market economy
14
The government controls this type of economy.
tradtional
command
market
taxes
15
Which of the following is not a economic term?
embargo
tarriff
oligarchy
market