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08HU2 - Economics - Types of Economic Systems Flashcards | StudBud
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08HU2 - Economics - Types of Economic Systems
08HU2 - Economics - Types of Economic Systems
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1
What type of economic system is BEST represented in this image?
Traditional Economy
Command Economy
Market Economy
Mixed Economy
2
"A way of deciding what to produce and how it is distributed." This is a definition of ...
communism
economic system
capital
bartering
3
What type of economic system is based largely on agriculture and trading of goods and services?
Traditional Economy
Command Economy
Mixed Economy
Market (Unplanned) Economy
4
What type of economic system is BEST represented by this image?
Traditional Economy
Market Economy
Mixed Economy
Command Economy
5
Which economy is fairly stable, since people do what their parents did, generation after generation?
Traditional Economy
Command Economy
Mixed Economy
Market Economy
6
Which type of economy BEST allows some people to become very rich while others may be poor?
Command (Planned) Economy
Market (Unplanned) Economy
Traditional Economy
Mixed
7
What economic system is a combination of Market and Command economies?
Command Economy
Traditional Economy
Market Economy
Mixed Economy
8
What is the oldest types of economic system?
Command Economy
Market Economy
Mixed Economy
Traditional Economy
9
What economic system is about freedom and choice to use money and resources however you want?
Command Economy
Market Economy
Mixed Economy
Traditional Economy
10
What type of economic system is BEST represented in this image?
Traditional Economy
Command Economy
Mixed Economy
Market Economy
11
Which of these is an example of a historical Traditional Economy?
Indigenous Australians
Current day Australians
Soviet Union under Communism
12
Most countries in the world today are what type of economic system?
Command Economy
Market Economy
Traditional Economy
Mixed Economy
13
Sometimes employers take advantage of or abuse workers in which type of economic system?
Mixed Economy
Market Economy
Command Economy
Traditional Economy
14
What type of economic system is BEST represented by this image?
Mixed Economy
Command Economy
Market Economy
Traditional Economy
15
Which type of economy BEST attempts to distribute goods and services equally?
Traditional Economy
Mixed Economy
Command Economy
Market Economy
16
What type of economic system is totally controlled by the government?
Market/Capitalist Economy
Mixed Economy
Traditional Economy
Command (Planned) Economy
17
People bartering and trading is an example of what type of economic system?
Market Economy
Traditional Economy
Command Economy
18
Workers sometimes lack incentive to work hard or are lazy in which type of economic system?
Traditional Economy
Command Economy
Market Economy
Mixed Economy
19
Which of these was a historical example of a Command Economy?
Soviet Union under Communism
Indigenous Australians
U.S. during the Gilded Age
