Know Your Economies
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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?

  • Planned Economy (correct)
  • Traditional Economy
  • Mixed Economy
  • Market Economy
  • 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?

  • Traditional Economy (correct)
  • Mixed Economy
  • Market Economy
  • Planned Economy
  • Which type of economy has minimal government intervention?

    <p>Market Economy</p> Signup and view all the answers

    Which type of economy is characterized by the government owning or controlling the means of production?

    <p>Planned Economy</p> Signup and view all the answers

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