Economic Systems

The gross domestic product measures the value of all goods and services within a country in a single __________________.

GDP stands for_____

The United Sates is more like a __________economy

In a free enterprise system, people are free to __publish opinions, make economic decisions, participate in elections.

Capitalist economies, such as the United States and _________________, provide many products for consumers to choose.

Command economies are under government control, and central planners decide what gets sold, produced, and worker wages.

Most developing countries have a market economy.

Which of the following does the government provide with the taxes that are collected?

In Market economies people can own their own business.

Norht Korea is more like a ___________ economy

Typically, the higher the GPD (Gross Domestic Product) >>>>>>

Which statement describes a command economy?

Which freedom does the free enterprise system promote?

Ancient Indian cultures where they practiced hunting and gathering were more like _____________ economies.

In command economies,______ decide which goods are to be produced, how many are produced, and how they are distributed.

With taxes that the government collects, it is able to build interstate highways and to fund ___and police and fire

In command economies, like the former USSR, goods, and services are easy to obtain.

Which of the following characterizes the economies of the United States and Canada?

What is a country’s gross domestic product?