Pricing Private Ownership Money Laws Location, Location, Location
100
What is traditional economic system?
In this economic system, goods are traded.
100
What is a command economic system?
In this type of system, businesses are owned by the government.
100
What is a traditional economic system?
In this system, goods are traded instead of money.
100
What is the command economy?
This economic system is regulated and owned by the government.
100
What is a command economy?
Cuba is an example of this economy.
200
What is a command economic system?
In this economic system, price is determined by the government.
200
What is a traditional economic system?
In this system, land is inherited.
200
What is an economic incentive?
This is something that is offered to people to make a decision about goods and services.
200
What is a market economy?
This type of system has no government regulations and rules are created by the people.
200
What is capitalism?
America is an example of this system where the market determines which businesses are successful and make a profit.
300
What is a market economic system?
In this system, supply and demand determine the price of a good.
300
What is a free market economy?
In this system private ownership encourages everyone to care for what they own.
300
What is a negative economic incentive?
A fine for returning a library book is an example of this.
300
What is a market economy?
This economy creates a large imbalance of wealth between citizens.
300
What is a command economy?
North Korea
400
What is an economic incentive?
"Buy one, get one free" is an example.
400
What is a traditional economy?
A few rural countries still have this economic system and rely heavily on farming and agriculture.
400
What is a positive economic incentive?
A coupon is an example of this.
400
What is a free market system?
This is an economy where the government places few restrictions on businesses.
400
What is the household?
In the United States' economic system, this is the most important resource.
500
What is a free market system?
or
What is the American system?
The price of some goods is regulated in this type of system.
500
What is capitalism?
In this economic system, businesses are owned by private companies or people.
500
What is a free market system?
In this economy, banks are privately owned, but regulated by the government.
500
What are command market economies/systems?
Most economies are a mixture of these two system.
500
What is a bank?
This is an important part of the free enterprise system because it allows consumers to save and earn interest on their money.






Economic Systems

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