Economic Understandings
Economic Understandings
Name: Date: Period:
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|What are the three economic questions? |1. |
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| |2. |
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| |3. |
|Traditional Economy | |
| |What are its characteristics? (complete sentences) |
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| |What are problems faced in a traditional economy? |
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| |How is your job determined? |
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| |Examples in Latin America: |
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|Command Economy | |
| |What are its characteristics? (complete sentences) |
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| |What are problems faced in a command economy? |
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| |How is your job determined in a command system? |
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| |Examples in Latin America: |
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|Market Economy | |
| |What are its characteristics? (complete sentences) |
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| |What are problems faced in a market economy? |
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| |How is price determined in this economic system? |
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| |How is your job determined in a market economy? |
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| |Examples in Latin America: |
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|Mixed Economy | |
| |What are its characteristics? (complete sentences) |
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| |What are problems faced in a mixed economy? |
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| |How is your job determined in a mixed economy? |
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| |Examples in Latin America: |
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Place on the continuum the following countries: Cuba, Venezuela, Brazil, & Canada
Command Economy Market Economy
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