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Terms in this set (15)
The citizens of the United States live and work in a
Mixed Market Economy
What is prohibited in a command economy? CHECK ALL THAT APPLY
A command economy tends to exist under a
socialist government that provides a lot of regulation.
Which nation has a communist command economy?
A mixed market economy tends to exist under a
democratic government that provides some regulation.
In a communist command economy, workers are employed by
What is one way a market economy affects the lives of private citizens?
Citizens can change jobs relatively easily.
Which statement best describes a command economy?
The government determines economic choices and makes most decisions.
Which nation has a socialist command economy?
How does the government of a republic typically shape its economy?
The government allows citizens to own private businesses.
What restriction would the government impose in a closed economy?
The government would prohibit trade with other nations.
What is one way a command economy affects the lives of private citizens?
Citizens cannot make most economic decisions.
Which statement best describes a mixed market economy?
Producers and consumers make some economic choices while the government makes others?
The goal of a command economy is to
preserve traditional customs?
The goal of a market economy is to
promote free economic choices