Economic Systems What does an economy consist of? Name the four basic types of economic systems. Who controls a command economy? How is the production of and services in a market economy determined? What type of economy is seldom used today? The production and exchange of goods and services among a group is a what? The way that people use resources to make and exchange goods is a what? When a central government decides what goods and services to produce that is what type of economy? When the forces of supply and demand decide what goods and services to produce it is what type of economy? **In a command economy, who decides what gods are produced? **In which type of economic system is money rarely used? **What would be typical of a command economy: farms owned by village elders, government-owned factories, privately owned clothing stores, restaurants owned by two partners
Economic Systems What does an economy consist of? Name the four basic types of economic systems. Who controls a command economy? How is the production of and services in a market economy determined? What type of economy is seldom used today? The production and exchange of goods and services among a group is a what? The way that people use resources to make and exchange goods is a what? When a central government decides what goods and services to produce that is what type of economy? When the forces of supply and demand decide what goods and services to produce it is what type of economy? **In a command economy, who decides what gods are produced? **In which type of economic system is money rarely used? **What would be typical of a command economy: farms owned by village elders, government-owned factories, privately owned clothing stores, restaurants owned by two partners
Chapter%203%20Packet.docx