QUESTION IMAGE
Question
drag the tiles to the boxes to form correct pairs. select the type of economic system that best matches each of the given descriptions. mixed command market traditional based on price rationing and includes some government involvement based on the forces of supply and demand based on traditions and customs based on government control of resources and production reset next
Brief Explanations
- A mixed economic system is based on price rationing and includes some government involvement. It combines elements of both market and command systems.
- A market economic system is based on the forces of supply and demand. Prices are determined by the interaction of buyers and sellers in the market.
- A traditional economic system is based on traditions and customs. Economic decisions are made based on long - standing cultural practices.
- A command economic system is based on government control of resources and production. The government makes decisions about what to produce, how to produce, and for whom to produce.
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- "based on price rationing and includes some government involvement" → mixed
- "based on the forces of supply and demand" → market
- "based on traditions and customs" → traditional
- "based on government control of resources and production" → command