Question

1. which type of economic system relies heavily on customs and traditions to determine production and distribution?

a. market economy
b. mixed economy
c. traditional economy
d. command economy

1. in a command economy, who primarily controls the economic activity?

a. traditional leaders
b. private businesses
c. consumers
d. the government

1. which characteristic is most indicative of a market economy?

a. prices are determined by competition and supply and demand.
b. economic decisions are based on long - standing customs.
c. the government controls all means of production.
d. there is a balance between government regulation and free markets.

comprehension

1. which of the following is a primary function of an economic system?

a. regulating international travel and immigration.
b. organizing the production, distribution, and consumption of goods and services.
c. promoting cultural exchange between nations.
d. establishing a country’s political structure.

comprehension

1. in which type of economic system does the government have minimal involvement, allowing businesses to operate freely based on supply and demand?

Explanation:

Question 1

A traditional economy is defined by relying on customs, traditions, and cultural norms to decide production and distribution. A market economy relies on supply and demand, a mixed economy has elements of market and command, and a command economy is controlled by the government. So the correct answer is the one related to traditions.

In a command economy, the government (or a central authority) makes decisions about production, distribution, and resource allocation. Traditional leaders are for traditional economies, private businesses for market economies, and consumers influence market economies, not command.

A market economy's key feature is that prices and production are determined by competition, supply, and demand. Option B is traditional economy, C is command economy, D is mixed economy. So the one about supply - demand and competition is correct.

Answer:

C. Traditional economy

Question 2