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What are the three main types of economic systems?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
Most countries are ______________________ economies because they are a combination of market and command.
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
In which economic system do consumers make economic decisions that occur between buyers and sellers? This system also has competition.
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
Which economy is most common in the world today?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
What is the most important factor in deciding what job you would do if you lived in a traditional economy?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
Which statement describes a part of a market economy?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
What are the three economic questions that all economists ask?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
In a command economy, who usually owns the farms and factories?
mixed
market
the government
People purchase a factory to build a new type of energy-saving car
mixed
the job your parents had
what to produce, how to produce, for whom to produce
traditional, command, market
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