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economic systems
| Question | Answer |
|---|---|
| what goods and services will be produced in a traditional system? | based on customs and beliefs |
| what goods and services will be produced in a command system? | government decides |
| what goods and services will be produced in a market system? | business owners/private individuals decide |
| how will goods and services be produced? | same way ancestors produced |
| how will goods and services be produced? | government decides |
| how will goods and services be produced? | buisness owners decide |
| for whom to produce (who will consume the goods/services?) | only for those who NEED them |
| for whom to produce (who will consume the goods/services?) | government decides |
| for whom to produce (who will consume the goods/services?) | consumer- people who will buy the goods |
| mixed economic systems(definition) | a combination of command and market |
Created by:
jenasechrest
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