Social Studies, 30.01.2022 17:50 maukjackie1974

Answer the following questions choosing from these choices: Traditional, Market, Command Socialist, and Command Communist. 1. The government makes all economic decisions, determining what products get produced and how much they cost.

2. Another name for this economic system is free enterprise or capitalism.

3. In this economic system, the government controls large industries with the expectation that the wealth generated by those industries will be shared by all the country’s citizens.

4. In this economic system, there is no government involvement.

5. In this economic system, goods and services are produced without exchanging money.

6. An example of this economic system would be the USA, where supply and demand determine prices of products with minimal government interference.

7. There is no incentive for new ideas and innovations since the government controls all means of economic production.

8. In this economic system, people own companies and decide what to produce in order to make consumers happy.

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