2.05 Quiz Review Mixed or Modern Economies

2.05 Quiz

Exit ticket

´Standards

´4. Economic systems differ in the ways that they address the three basic economic issues of allocation, production and distribution to meet society’s broad economic goals.  

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´9.2.3.4.2  Compare and contrast the characteristics of traditional, command (planned), market-based (capitalistic) and mixed economic systems.

´For example: Characteristics—ownership of resources, consumer sovereignty, amount of government involvement, underlying incentives, compatibility with democratic principles. How does each system answer these questions: What to produce? How to produce? For whom to produce?