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Economic Systems Flashcards | StudBud
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Economic Systems
Economic Systems
9 terms
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StudBud Administration
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78 plays
Traditional, Command, Market, Mixed
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
If your parents were peanut farmers, you would be a peanut farmer.
Market
Traditional
Command
Mixed
2
Cuba is close to this type of system.
Market
Traditional
Mixed
Command
3
Businesses make decisions but some government regulations to make sure it is safe.
Market
Mixed
Traditional
Command
4
Private business determine what goods/services are produced and how they will be made.
Market
Command
Mixed
Traditional
5
The government makes all the decisions.
Mixed
Market
Command
Traditional
6
Scarcity is when...
When you have too many goods and services.
When you have too little goods and services.
When your government tells you what to sell.
You are really scared.
7
Most democratic countries are this.
Command
Traditional
Market
Mixed
8
Bartering is used.
Traditional
Command
Market
Mixed
9
Communist countries are closely related to this.
Command
Mixed
Traditional
Market
