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.
traditional
market
command
mixed
based on government control
of resources and production
based on traditions and customs
based on the forces of supply and demand
based on price rationing and includes
some government involvement

Explanation:

• Command economic system: In a command economic system, the government has significant control over resources and production. It makes decisions regarding what to produce, how to produce, and for whom to produce.
• Traditional economic system: A traditional economic system is based on long - standing traditions and customs. Economic activities such as what goods are produced (e.g., in some traditional agricultural societies, specific crops are grown based on generations - old practices) and how they are distributed (e.g., through bartering systems that have been in place for a long time) are determined by these traditions.
• Market economic system: The market economic system operates based on the forces of supply and demand. Producers respond to consumer demand (what consumers want to buy) and supply (the availability of resources and the ability to produce goods). Prices are set by the interaction of supply and demand, and there is relatively less government intervention compared to a command economy.
• Mixed economic system: A mixed economic system combines elements of both the market and the command (or government - controlled) systems. It uses price rationing (where prices help allocate resources, similar to a market system) but also has some government involvement. For example, the government may regulate certain industries (like healthcare or utilities in some countries) to ensure public welfare while still allowing market forces to operate in many other sectors.

Answer:

• "based on government control of resources and production" → command
• "based on traditions and customs" → traditional
• "based on the forces of supply and demand" → market
• "based on price rationing and includes some government involvement" → mixed