Economics Chapter 26: Comparing Economic Systems: Part II
Matching Exercise
Match the items on the right to the items on the left.
Check
system in which individuals own the factors of production and make economic decisions through free interaction; capitalism
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communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
Gross Domestic Product per person
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communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
major economic decisions are made by the central government
???
communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
the belief that the means of production should be owned and controlled by society, either directly or through the government
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communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
economic system in which the central government directs all major economic decisions
???
communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
combines all basic elements of a pure market economy and a command economy
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communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
countries whose average per capita income is only a fraction of that in more industrialized countries
???
communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
economic decions of what, how, and for whom to produce are based on custom or habit
???
communism
command economy
market economy
developing countries
socialism
per capita GDP
mixed economy
traditional economies
Check
OK