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Economic Systems
By Matt Marks
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Last updated 8 months ago
5 questions
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Question 1
1.
Question 2
2.
Question 3
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Question 4
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Question 5
5.
The economic system that involves the government the LEAST is the _________ system.
Command
Free Market
Mixed
Traditional
An economic system based on customs and traditions is a ______________ system. (not in video)
Command
Free Market
Traditional
Mixed
Most undeveloped countries that also may have political corruption operate with which Economic System?
Free Market
Traditional
Mixed
Command
Which of the following a driving force in both a free market and mixed economy?
spending on public goods...police, fire, schools
heavy government involvement
supply and demand
socialism and communism
In a mixed economy, what will happen to the prices for a product and the profit a business can make as more competition enters the market?
Prices and Profits will rise
Prices and Profits will fall
Prices and Profits won't be effected
Prices will go up and profits will go down