Question

economic systems: africa
nigeria and kenya are examples of command - leaning economies. this means that they are not fully a command economy, but they have many characteristics of a command economy. in both nations, the government keeps its taxes and spending low, but there are many other factors that contribute to these nations leaning towards a command economy. for example, in kenya, the government might revoke land from an owner if they feel as though it is not being used productively.
overall, all economies must answer three important questions in order to be successful: what should the nation produce, how should the nation produce it, and who should it be produced for. there are three basic economic models that can answer these questions for nations: traditional, command, and market.
directions: fill in the chart based on the passage.
three questions to be answered by economic models
1.
2.
3.
three basic types of economic models
1.
2.
3.

Explanation:

The passage clearly states that all economies must answer three questions: what should the nation produce, how should the nation produce it, and who should it be produced for. It also mentions three basic economic models: traditional, command, and market.

Answer:

Three Questions to be Answered by Economic Models:

1. What should the nation produce?
2. How should the nation produce it?
3. Who should it be produced for?

Three Basic Types of Economic Models:

1. Traditional
2. Command
3. Market