#8

Question 1

what are the 4 different types of economy

Answer 1

a. traditional
b. command
c. market
d. mixed

Question 2

means to trade

Answer 2

barder

Question 3

this economic system is based in customs and traditions ( handed down from 1 generation to another )

Answer 3

economic system

Question 4

in this type of economic system allocation of scarce resources stems from ritual, habit, or customs

Answer 4

traditionalism

Question 5

africa parts of india the australian aborigines are all examples of what type of economic system?

Answer 5

traditional

Question 6

what are the advantages and disadvantages of a traditional economic system

Answer 6

economic roles are set
stable, predictable, and continuous.

Question 7

in a ____ economic system a central authority government has to answer the big three questions

Answer 7

command

Question 8

what are examples of a command economy

Answer 8

1.basic needs are taking care of
2. education and health cost very little
3. berry little unemployment

Question 9

a ____ is an economic system that relies on consumption choices made by consumers

Answer 9

capitalism market

Question 10

in a capitalist or market economy ____ dictate what is produced, how much is produced, and how much things cost

Answer 10

consumers

Question 11

what are examples of capitalist/market economy

Answer 11

canada, south korea, singa pore, germany, great britain and the us

Question 12

list the advantages of a capitalism and market economy

Answer 12

individual freedom
back if government interference
incredibly variety to choose from
high degrees of consumer satisfaction

Question 13

is a mix of all the other three economies

Answer 13

mixed economy

Question 14

give two examples of how the us is actually a mixed economy

Answer 14

obama care
balls out yet consumer driven

Question 15

what are examples of a command economy

Answer 15

north korea , cuba