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Name: ___________________________________
Date: ___________________________________
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Economics Chapter 2: Section 1-2
Created by jrogers
- 1. economic systems
- 2. tradional economy
- 3. command economy
- 4. market economy
- 5. central pplanning economy
- 6. socialism
- 7. communism
- a. the way a society uses resources to satisfy its people's wants
- b. a system in which central government officals make all economic decisions
- c. an economic system in which individuals choice and voluntary exchange direct econmic decisions
- d. an economic system ins which the government owns some or all of the factors of production
- e. an economic system in which the government owns all the factors of production and there is little or no political freedom
- f. an economic system in which people produce and distribute goods according to the customs hannded down form generation to generation
- g. an economic system in which the government makes all economic decisions
Name: ___________________________________
Date: ___________________________________
Date: ___________________________________
Economics Chapter 2: Section 1-2 (Answer Key)
Created by jrogers
- a 1. economic systems
- f 2. tradional economy
- g 3. command economy
- c 4. market economy
- b 5. central pplanning economy
- d 6. socialism
- e 7. communism
- a. the way a society uses resources to satisfy its people's wants
- b. a system in which central government officals make all economic decisions
- c. an economic system in which individuals choice and voluntary exchange direct econmic decisions
- d. an economic system ins which the government owns some or all of the factors of production
- e. an economic system in which the government owns all the factors of production and there is little or no political freedom
- f. an economic system in which people produce and distribute goods according to the customs hannded down form generation to generation
- g. an economic system in which the government makes all economic decisions
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