Unit 05 (6b-6e) Word Scramble
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| Question | Answer |
| What economic system is it? Economic decisions are based on custom and historical precedent. | Traditional Economy |
| What economic system is it? People often do the same jobs as parents and grandparents, no matter their own skills. | Traditional Economy |
| Identify the characteristic of a Command Economy. HINT: The other TWO choices are Free Market Economy. Central/government ownership of property and resources Private ownership of property and resources Profit motive | Central/government ownership of property and resources |
| Identify the characteristic of a Command Economy. HINT: The other TWO choices are Free Market Economy. Centrally Planned Economy Competition Consumer Sovereignty | Centrally Planned Economy |
| Identify the characteristic of a Command Economy. HINT: The other TWO choices are Free Market Economy. Individual choice Lack of consumer choice Minimal government involvement in the economy | Lack of consumer choice |
| In what economic system do individuals, businesses, and government all own resources and make decisions? | Mixed Economy |
| Most countries today, including the United States, are a – | Mixed Economy |
| In a mixed economy, individuals and businesses are the decision makers for the - | Private sector |
| In a mixed economy, the government is the decision maker for the - | Public sector |
| What is the correct order from LEAST to GREATEST government involvement? | Free Market > Mixed > Command |
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Warren_Fisher
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