Question

*economic system ran based on how things have always been done

*economic system with NO government intervention

*economic system controlled by the government

*economic system with varying degrees of government oversight in the economy

Answers:

1. Traditional economy

2. market economy

3. command economy

4. mixed economy


In a ____ economy there is no government intervention. Producers and consumers answer all three basic economic questions. This type of economic system relies upon ____ of resources for the market to function correctly. Business owners are driven heavily by _____ because they want to make as much money as possible, but they also rely on consumers to make their own decisions and buy the products they want. When consumers can make their own choices, it is called ____ . _______ is also important in this economic system because it helps keep prices lower for consumers.
answer choices:

1. market economy

2. private ownership

3.profit motive

4. consumer sovereignty

5. competition


The term in the left column is a social or economic goal.


Use the drop-down menu to select the economic system that BEST meets the social or economic goal.


freedom-market economy


security-command economy


equity-command economy


growth-market economy


efficiency-market economy


price stability-command economy


full employment-command economy

Answer 1

All your answers appear to be correct. You should receive 100

Answer 2

The United States is an example of a

✔ market

economy.

The type of economy that encourages businesses to compete and keep prices low is a

✔ market

economy.

The government owns most of the businesses in a

✔ command

economy.

The economy that limits the choices of consumers and producers is a

✔ command

economy.

Step-by-step explanation: