10 questions
An economic system that has privately-owned companies and businesses that undertake most economic activity
An economic system in which most wealth is owned or controlled collectively (through the state, other public institutions, or non-profit organizations)
An economic system based on barter and doing things the same way as their ancestors or family
The way states or countries organize the production and distribution of their resources
Economy in which people can usually buy and sell freely in a “market,” but the government does exert some degree of control over how the three basic economic questions are answered
Economy in which Jobs performed by past generations or ancestors will be done by future generations
In this economy, the government’s role is to create and maintain a stable economy for the market to run properly
In this economy, the government decides who gets goods and services produced and there is a clear division of labor and specialization
Economy in which the consumers decide who gets which products and/or services by what they are willing to pay for what they want
In this economy, people often have little say in their professions, or what they do for work, as available jobs are based on the needs of the country