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4 ECONOMIES

QuestionAnswer
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
Created by: NYES
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