5 Questions
In which type of economy does the government or central authority make most, if not all, economic decisions?
Planned Economy
Which type of economy is primarily driven by private individuals and businesses?
Market Economy
Which type of economy is characterized by economic decisions based on customs and traditions?
Traditional Economy
Which type of economy has minimal government intervention?
Market Economy
Which type of economy is characterized by the government owning or controlling the means of production?
Planned Economy
Test your knowledge of different types of economies with this quiz! From traditional economies based on customs and traditions to planned economies controlled by the government, this quiz will cover the basics of each system. Challenge yourself and see how well you understand the different economic models.
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