In a mixed market economy, who makes most of the daily economic decisions?
answer
individual citizens
question
Which type of market is the least likely to have an official currency?
answer
traditional economy
question
In which type of market would you find it the most difficult to buy goods from another country?
answer
closed economy
question
What type of market is illustrated by this pie chart?
answer
a mixed market economy
question
Which economic system is supported by this passage's main argument?
answer
command economy
question
What are the pros of a mixed market economy for most citizens? CHECK ALL THAT APPLY.
answer
There is a great deal of independence and personal choice.
The government cannot dictate which jobs citizens hold.
There may be greater opportunity to become wealthy.
question
The goal of a command economy is to
answer
create equality within a society
question
Which nation has a socialist command economy?
answer
Cuba
question
The goal of a market economy is to
answer
promote free economic choices
question
A mixed market economy tends to exist under a
answer
democratic government that provides some regulation.
question
What restriction would the government impose in a closed economy?
answer
The government would prohibit trade with other nations.
question
What is one way a market economy affects the lives of private citizens?
answer
Citizens can change jobs relatively easily.
question
What is one way a command economy affects the lives of private citizens?
answer
Citizens cannot make most economic decisions.
question
What is prohibited in a command economy? CHECK ALL THAT APPLY.
answer
the personal ownership of property
the influence of consumer demand
question
A command economy tends to exist under a
answer
socialist government that provides a lot of regulation.
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