Question

Match the following:1. Goods and services are created for the use of the producers and their kinship groups 2. Producers or their agents freely market their goods and services, and market competition is the primary force shaping production decisions and distributions 3. Associated with communist-controlled societies, producers or their agents dispose of goods and services through governmental agencies that control both supply and price -None of these three economies are mutually exclusive 4. Economies in formerly communist countries that are in the process of shifting away from central planning towards free market exchange -This is the only economic system that is independentA. Subsistence: B. Commercial:C. Planned:D. Transitional:

Answer 1

Answer: Substitence- Goods and services are created for the use of the producers and their kinship groups

Transitional- Economies in formerly communist countries that are in the process of shifting away from central planning towards free market exchange

Planned - Associated with communist-controlled societies, producers or their agents dispose of goods and services through governmental agencies that control both supply and price

Commercial- Producers or their agents freely market their goods and services, and market competition is the primary force shaping production decisions and distributions

Step-by-step explanation:

A planned economy is an economy in which all economic decisions are made by the government.

A transition economy is an economy transitioning from a planned economy to a market economy.

A subsistence economy is an economy that produces majorly for its own consumption only.