Economic Systems CE 11 a and b

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If there is a public sector and a private sector in an economic system, then what type of economic system are we referring to?

What is competition?

If the government has total control over a nation's economic system, what type of economic system does it have?

If a nation's economic system is a combination of command and free market, what type of economy does it have?

What are the three economic questions that every country must answer?

If a nation's economic system is based on what has been done in the past. what type of economic system does it have?

What are the four types of economic systems found in countries?

Which economic system is being described? Has central ownership of property and resources by the government, centrally planned economy and there is a lack of consumer choice