G8 - Economic System

What type of economy do most countries in the world have?

The country of North Korea has a dictator that makes all of the economic decisions. What type of economy is this?

An economic system where businesses have the freedom to produce whatever they think consumers will buy is called ___ economic system.

Which of the following is the correct definition of 'Economic System'?

This economic system relies on the market forces of demand and supply to allocate resources with minimal government intervention in which the businesses are given the freedom to pursue profit.

Which economic system is both market and command combined and most democratic countries fall into this category?

These economies utilize the benefits of free markets and government involvement.

The government has little to no role in the production of goods in this type of economy.

It is when individuals in the market dictate the economy.

The role of government in the mixed economi is to ___.