| A | B |
|---|
| which economy answers to a central authority | command |
| what type of economy is oldest | traditional |
| which economy provides citizens with control & ownership; not govt. | market |
| In traditional economy | customs & tradition determines what & how things are produced |
| govt. intervenes a little, but the 3 questions are decided by the people | mixed |
| Have a mixed economy | Russia and Germany |
| A mixed economy is what | most countries in the world have |
| A market economy would be the best | for competition between prducers |
| When a country has a market economy | companies produce goods of their choice & consumers decide whether to buy the goods |
| United Kingdom, Germany, and Russia have this in common | all are mixed economies with some element of command economies |
| Command economy is mostly related to | communist countries |
| Found in a market economy | competition |
| would reflect a country with mixed economy | combination of privately-owned industry & govt. control |
