1. Match the economic system to the correct description. (One description for each economic type)

Question

Command Economy Market Economy Mixed Economy

the economy in which the central government makes all basic economic decisions

an economy in which individual consumers and producers make all economic decisions

an economy that combines elements of traditional, market, and command economic systems

the economy in which the central government makes all basic economic decisions
an economy in which individual consumers and producers make all economic decisions

an economy that combines elements of traditional, market, and command economic systems

Answer 1

Command Economy - the economy in which the central government makes all basic economic decisions

Market Economy - an economy in which individual consumers and producers make all economic decisions

Mixed Economy - an economy that combines elements of traditional, market, and command economic systems