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Types of Economies
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Economics
Answer the questions correctly for market, command, and traditional economies.
By
rsweat
Created Date 05.03.20
Last Updated 05.04.20
Viewed 3 Times
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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.
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