Types of Economic Systems

The want or willingness a consumer has to purchase a good or a service is called?

The willingness and ability of a producer to make a product is referred to as

In my country, central planners decide when we should expand old factories and build new ones.

In my country, central planners decide when we should expand old factories and build new ones.

In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.

In my country, business is based on competition. Success comes from doing something better and cheaper than your competitors.

In my country, I know that all my needs will be met, but not my wants.

In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.

In my country my job is the same one that my family has done over the past 200 years.

In my country producers decide what and how much to make based on what people want to buy.

In my country, the government has some involvement in the economy.

In my country, the government makes all the economic decisions.

,In my country, the government tells me where to work.

In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.

In my country there is a private sector and a public sector.

In my country, profits are the incentives for production.

In my country, consumers are very powerful in economic decision-making.

In my country, consumers don't have a lot of choice in what they can buy.

In my country, there is little economic growth because we do not use any new technologies.