click below
click below
Normal Size Small Size show me how
4 ECONOMIES
Question | Answer |
---|---|
Businesses are owned by the people | Market Economy |
Businesses are owned by the government | Command Economy |
Business are owned by families and passed on for generations | Traditional Economy |
Business are owned by the government and the people | Mixed Economy |
The main focus of business is money and profit | Market Economy |
The main focus of business is providing a family with their immediate needs | Traditional Economy |
The main focus of business is to complete the task given by the government | Command Economy |
The business owners and consumers demand affects the price of goods | Market Economy |
The government decides the price of goods | Command Economy |
The price of goods is decided by trade and needs | Traditional Economy |
The price of goods is decided by demand and government laws | Mixed Economy |
An economy that has a lot of price adjustments | Market Economy |
An economy that is similar to an auction | Market Economy |
An economy that has very few price adjustments due to government control | Command Economy |
An economy that is not based on price but trade and bargaining | Traditional Economy |