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- Multiple ChoicePlease save your changes before editing any questions.
An economic system where the government tells people what jobs they will have and what prices they will pay is called a...
Command Economy
Market Economy
Barter Economy
- Multiple ChoicePlease save your changes before editing any questions.What are the 3 basic economic Questions all economies must answer:Who? What? When? Where?I? D? K?What to produce? How to produce? For whom to produce?
- Multiple ChoicePlease save your changes before editing any questions.What are the three basic economic systems:Command, Traditional, MarketAutocracy, Democracy, HollandUK, Euro, Dollar
- Multiple ChoicePlease save your changes before editing any questions.Economic system based on custom, traditions and the pastCommandMarketTraditional
- Multiple ChoicePlease save your changes before editing any questions.Economy based on what their parents have always done and what their parents have always done etc etccommandmarkettraditional
- Multiple ChoicePlease save your changes before editing any questions.trading without using money is called?HouseBarteringhandoff
- Multiple ChoicePlease save your changes before editing any questions.Government controls all aspects of economy
Example: The government owns most of the property, sets the prices of goods, determines the wages of workers, plans what will be made…everythingcommandmarkettraditional - Multiple ChoicePlease save your changes before editing any questions.A country with complete economic freedom and no government control would be:commandmarket
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In a command economy, decisions about what, how and for whom to produce are determined by:
the government
cultural; traditions
supply and demand
- Multiple ChoicePlease save your changes before editing any questions.A person who takes a risk to start a business. Ex. Bill Gates, founder of Microsoftcashierentrepreneurcapitalistproprietor
- Multiple ChoicePlease save your changes before editing any questions.
There are no truly pure Market economic systems, but which of the following countries is closest?
Cuba
Germany
Russia
United States
- Multiple ChoicePlease save your changes before editing any questions.
What do the economic systems of the UK, Germany, and Russia have in common?
all are examples of pure market economies
all are examples of mixed economies
all are examples of traditional economies
all are examples of command economies
- Multiple ChoicePlease save your changes before editing any questions.
The economic system of communist countries is most closely related to a_______________________________because the government makes all of the economic decisions.
Market Economy
Command Economy
Mixed Economy
Traditional Economy
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All world economies can be measured on a line called
Economic Time Line
Economic Continuum
Economic Number Line
Economic graph