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15
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Tell us who consumers are.
People who buy, households.
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15
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What economic system is a combination of Market/Capitalist and Command/Communist economies?
Mixed Economy
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15
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Who answers the economic questions in a traditional economy?
Traditions of the people
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15
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A market economy has heavy government regulations? True or False?
False
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Who control the economy in a communism (command) economy?
Government, state
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15
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What are the four economic systems?
Subsitence (Traditional), Communist (Command), Capitalist (Market) or Mixed Economic System.
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15
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In the capitalist or market economy the main targer is to make a profit. True or false?
True
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baam
Lose 25 points!
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seesaw
Swap points!
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rocket
Go to first place!
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banana
Go to last place!
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15
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Which economic system use the traditional methods to product goods?
Subsitence system (traditional sysytem)
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15
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Most countries in the world today are what type of economic system?
Mixed Economy
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15
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In which economic system law of supply and demand determines prices and regulates the market?
In the capitalist economic system.
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15
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Which type of economy BEST allows some people to become very rich while others may be poor?
Market/Capitalist Economy
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15
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Explain the difference between goods and services.
Goods: tangible assets. Example: chair, car, table Services: activities that don´t produce material goods. Ex: Health, education
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banana
Go to last place!
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fairy
Take points!
5
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15
20
25
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shark
Other team loses 10 points!
Okay!
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thief
Give points!
5
10
15
20
25
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seesaw
Swap points!
Oops!
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shark
Other team loses 20 points!
Okay!
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rocket
Go to first place!
Okay!
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thief
Give points!
5
10
15
20
25
15
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In which economic system government sets prices and distributes profits?
In a communist economic system
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