Economic Systems

Question 1

What is one characteristic of a command economy?

Revolt · Accepted Answer

C: The government controls the prices of most goods.

Question 2

In a mixed market economy, who makes most of the daily economic decisions?

Revolt · Accepted Answer

C: individual citizens

Question 3

Which type of market is the least likely to have an official currency?

Revolt · Accepted Answer

C: traditional economy

Question 4

In which type of market would you find it the most difficult to buy goods from another country?

Revolt · Accepted Answer

B: closed economy

Question 5

What type of market is illustrated by this pie chart?

Revolt · Accepted Answer

D: a mixed market economy

Question 6

capitalistmixed market✔ command

Revolt · Accepted Answer

C: command

Question 7

Which economic system is supported by this passage’s main argument?

Revolt · Accepted Answer

D: command economy

Question 8

Compare and contrast the goals of command and mixed market economies. Why are there many more mixed market economies than command economies in the world today?Give your answer in the form of a short paragraph.

Revolt · Accepted Answer

Mixed market economies focus on preserving as much freedom to make economic choices as possible. Governments in these economies have limited involvement in managing and regulating the economy. In contrast, command economies are focused most on preserving and requiring equal opportunities, which means governments that greatly regulate the economy. More economic systems are geared toward offering producers and consumers the freedom to make economic choices, so mixed market economies are more common in the world today.

Question 9

mixed market✔ closedcommand

Revolt · Accepted Answer

B: closed

Question 10

What did you include in your response? Check all that apply.

Revolt · Accepted Answer

A: a description the goals of a mixed market system; B: a description the goals of a command system

Economic Systems Answers

More from this Course

TRY EDGENUITY HACKS