Economic Systems

Which statement best describes a mixed market economy? Consumer intervention in economic choices is strictly forbidden. The government determines economic choices and makes most decisions. The decisions made by producers and consumers drive all economic choices. Producers and consumers make some economic choices while the government makes others.

A command economy tends to exist under a... communist government that provides little regulation. democratic government that provides some regulation. representative government that provides no regulation. socialist government that provides a lot of regulation.

Which nation has a socialist command economy? Cuba North Korea South Korea the United States

The most common economic system in the world is a closed economy. command economy. mixed market economy. traditional economy.

What is one way a command economy affects the lives of private citizens? Citizens cannot make most economic decisions. Citizens can only work in factories or on farms. Citizens must pay for their own health care. Citizens have limited access to education.

How does the government of a republic typically shape its economy? The government allows citizens to own private businesses. The government blocks the ownership of personal property. The government owns all homes and other forms of housing. The government controls factories and other forms of production.

How does the economy of Cuba differ from the economy of North Korea? In North Korea, the government's control of the economy has begun to loosen. In Cuba, the government maintains a tight hold over the economy. In Cuba, the government's control of the economy has begun to loosen. In North Korea, the government maintains a tight hold over the economy. In North Korea, there is economic uncertainty in exchange for individual choice. In Cuba, there is economic security in exchange for government control. In Cuba, there is economic uncertainty in exchange for individual choice. In North Korea, there is economic security in exchange for government control.

The goal of a command economy is to sustain self-sufficiency. preserve traditional customs. create equality within a society. promote free economic choices.

What is one way a market economy affects the lives of private citizens? Citizens can change jobs relatively easily. Citizens cannot choose their own careers. Citizens do not have to pay for their housing. Citizens have little freedom and independence.

The citizens of the United States live and work in a closed economy. command economy. mixed market economy. pure market economy.