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Economic Systems
Economic Systems
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StudBud Administration
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Economic Systems Quiz
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Prices are influenced by supply and demand.
Mixed
Traditional
Command
Market
2
An economic system that combines elements of all the other basic systems.
Mixed
Command
Market
Traditional
3
Considered synonymous with a capitalistic economy.
Mixed
Traditional
Command
Market
4
Characterized by very low unemployment rate.
Traditional
Command
Mixed
Market
5
An economic system heavily influenced by habits, customs, and religious beliefs.
Traditional
Command
Market
Mixed
6
Privately owned factors of production
Market
Mixed
Command
Traditional
7
Individual freedom is limited.
Market
Command
Traditional
Mixed
8
Individual purchasing decisions determines the types of products and services offered.
Command
Market
Traditional
Mixed
9
Government owns natural and capital resources.
Market
Mixed
Command
Traditional
10
Considered synonymous with either a communist or socialist economy.
Market
Mixed
Command
Traditional
