stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of BE 2.03 Economic Systems Flashcards | StudBud
Explore
/
Duplicate of BE 2.03 Economic Systems
Duplicate of BE 2.03 Economic Systems
6 terms
·
StudBud Administration
·
10 plays
2.03 Understand the types of economic systems.
Flashcards
6 cards
F
Practice quiz
P
Host live
L
Questions
6
Answers
1
A command ES, government controls the economic system does not allow private ownership - production and distribution.
Market economy
Traditional economy
Communism
Socialism
2
An ES, people produce what they must have in order to exist; all economic decisions are based on habit and tradition.
Market economy
Comman economy
Economic systems
Traditional economy
3
The organized way in which a country handles its economic decisions and solves its economic problems.
Economic system
Socialism
Market economy
Traditional economy
4
An ES questions - what, how, and for whom goods will be produced are answered individuals and businesses in marketplace.
Socialism
Traditional economy
Communism
Market economy
5
A modified command ES, government owns the basic means of production and allows private ownership of businesses as well.
Communism
Market economy
Traditional economy
Socialism
6
An economic system, all or many of the means of production and distribution are owned and controlled by the government.
Economic system
Command economy
Traditional economy
Market economy
