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Economic systems
Economic systems
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StudBud Administration
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Economic Systems Quiz
Flashcards
10 cards
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Questions
10
Answers
1
An economic system heavily influenced by habits, customs, and religious beliefs.
Mixed
Market
Traditional
Command
2
Considered synonymous with a capitalistic economy.
Market
Command
Mixed
Traditional
3
Prices are influenced by supply and demand.
Command
Traditional
Market
Mixed
4
An economic system that combines elements of all the other basic systems.
Command
Traditional
Market
Mixed
5
Characterized by very low unemployment rate.
Market
Command
Traditional
Mixed
6
Government owns natural and capital resources.
Command
Traditional
Market
Mixed
7
Individual purchasing decisions determines the types of products and services offered.
Market
Command
Mixed
Traditional
8
Individual freedom is limited.
Mixed
Market
Traditional
Command
9
Considered synonymous with either a communist or socialist economy.
Mixed
Command
Market
Traditional
10
Privately owned factors of production
Command
Mixed
Traditional
Market
