Economic Systems

Question 1

What is one way a command economy affects the lives of private citizens?

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Question 2

Which statement best describes a pure market economy?

Revolt · Accepted Answer

The decisions made by producers and consumers drive all economic choices.

Question 3

Read the paragraph below, and then decide which type of economy is being described.In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs.What type of economy is being described?

Revolt · Accepted Answer

a traditional economy

Question 4

What is one way a command economy affects the lives of private citizens?

Revolt · Accepted Answer

Citizens cannot make most economic decisions.

Question 5

Which nation has a communist command economy?

Revolt · Accepted Answer

North Korea

Question 6

A mixed market economy tends to exist under a

Revolt · Accepted Answer

democratic government that provides some regulation.

Economic Systems Answers

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