1) Both individual owned businesses and the government make economic decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 2) Communist governments are close to this type of economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 3) Countries placed anywhere on the economic continuum between market and command economies. a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 4) The prices of goods are determined by supply and demand  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 5) Individual owned businesses have no say in the economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 6) Occurs in small villages and subsistence farms a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 7) The government makes all the economic decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 8) Also known as Capitalism or Free enterprise  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 9) Private owned business sector is in charge of the economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 10) There is no government regulation at all a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 11) Both the public and the private sector make decisions  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 12) North Korea has this type of economy  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 13) Although there is some government regulation, the United States claims this type of economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 14) Has characteristics of both command and market economies a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 15) hunting, fishing, gathering is only means of production a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 16) No private sector or individually owned businesses a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 17) The Soviet Union's economy was close to this economy  a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 18) people follow tradition and do what their ancestors did a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 19) democratic countries have this type of economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 20) businesses and private individuals make all the economic decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 21) bartering is used (trading without using money) a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 22) Central authority makes all the decisions a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy 23) Cuba's economy is close to this type economy a) Traditional Economy b) Market Economy c) Command Economy d) Mixed Economy

Economic Systems

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