Question

1. individuals and businesses own the means of production and distribution with limited government regulation in a _ economy *

command
pure market
market
traditional

1. in order to find an underdeveloped country that has a traditional economic system, you would need to visit the continent of *

europe
south america
china
north america

Explanation:

Question 9:

In a market economy, individuals and businesses own the means of production and distribution with limited government regulation. A command economy has government control, a pure - market economy has no government regulation (which is more of a theoretical concept), and a traditional economy is based on customs and traditions.

Question 10:

Traditional economic systems are more likely to be found in under - developed areas. South America has some regions with traditional economic elements. Europe and North America are more developed with market or mixed economies. China is a large country with a mixed economy (socialist market economy).

Answer:

1. market
2. South America