This website uses cookies to ensure you get the best experience on our website. Privacy Policy OK

Types of Economies

| See more in Economics

Answer the questions correctly for market, command, and traditional economies.

Created Date 05.03.20
Last Updated 05.04.20
Viewed 3 Times
Your browser doesn't support HTML5. System.Collections.Generic.List`1[System.String] System.Collections.Generic.List`1[System.String]
submit to reddit

Would you like to build your own game?

It's easy!

Go to the GameBuilder and get started!

Topics of this game:
  • People in traditional economies do not want to change their basic way of life.
  • Traditional economies are often based on ancestral traditions/customs and habits.
  • A market economic system is also called capitalism.
  • Market economies encourage new business by allowing economic freedom.
  • A market economy does not allow individual consumers and producers to make economic decisions.
  • The central government makes all the economic decisions in a command economy.
  • A command economy is sometimes called a planned economy.
  • Individuals have economic freedom in a command economy.
  • The United States operates under a market economy.
  • Traditional economies have been referred to as third world economies.