There are different ways societies use to ensure that limited resources can help meet the endless needs of societies. Having an economic system ensures that one knows when, how, and who to produce to meet the requirements. Do take up the quiz and get to learn some more about the main economic systems. All the best!
Traditional
Command
Market
Mixed
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Buyers and sellers operate according to government guidelines
Individuals are free to exchange in business transactions (voluntary exchange) and their economic activity sets prices
Stores stay open until late at night only when they are given permission
There is a central market committee that solves problems
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Economic systems
Economic Choices
Opportunity Costs
Factors of Production
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Asian countries.
Republicans.
Amish Communities.
Communists.
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Mixed economy
Specialized economy
Command economy
Pure free market economy
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In books.
On the Internet
Government programs
Word of mouth.
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Mixed command
Mixed tradition
Mixed communism
Mixed environmentalism
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What question
How question
For whom question
None of these
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Capitalism
Free Enterprise
Free Expression
Private Enterprise
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