Question

Question

Match the economic system to its definition.(2 points)
Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
command economy
mixed economy
traditional economy
market economy

Answer 1

Sure! Here are the economic systems matched to their definitions:

1. Command Economy - An economic system in which the government makes all decisions about the production and distribution of goods and services.

2. Mixed Economy - An economic system that combines elements of both capitalism (market economy) and socialism (command economy), featuring both private and public ownership.

3. Traditional Economy - An economic system that relies on customs, history, and time-honored beliefs, where traditions shape the economy, often found in rural and farm-based communities.

4. Market Economy - An economic system in which supply and demand dictate the production and pricing of goods and services, with minimal government intervention.

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