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Questions and Answers
In which type of economy does the government or central authority make most, if not all, economic decisions?
In which type of economy does the government or central authority make most, if not all, economic decisions?
- Planned Economy (correct)
- Traditional Economy
- Mixed Economy
- Market Economy
Which type of economy is primarily driven by private individuals and businesses?
Which type of economy is primarily driven by private individuals and businesses?
- Mixed Economy
- Traditional Economy
- Planned Economy
- Market Economy (correct)
Which type of economy is characterized by economic decisions based on customs and traditions?
Which type of economy is characterized by economic decisions based on customs and traditions?
- Traditional Economy (correct)
- Mixed Economy
- Market Economy
- Planned Economy
Which type of economy has minimal government intervention?
Which type of economy has minimal government intervention?
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Which type of economy is characterized by the government owning or controlling the means of production?
Which type of economy is characterized by the government owning or controlling the means of production?
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