Economic Systems

7. Since they are self-sufficient, which type of economy can exist within any country?

8. All of the following are characteristics of a command economy EXCEPT:

1. What determines the type of economy a country has?

9. All of the following are true about free market economic systems EXCEPT:

3. Which economy is based on no or minimal government involvement?

2. Which economy is based on custom and historical precedent, often the same work done by past generations?

5. Which economy shares economic decisions between the public sector and private sector?

10. What is the best example of a traditional economic system?

6. The United States is an example of which type of economic system?

4. Which economy is centrally-planned, meaning the government makes almost all economic decisions?