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What type of economy does each statement describe?

Select C for Command economy.

Select M for Market economy.

Select T for Traditional economy.


Business decisions are influenced by consumer demand.

Change happens slowly.

Economic growth is not a high priority.

People choose their careers.

Resources are owned by the government.

The government makes most business decisions

Verified Answer :

taskmasters

First, we need to understand these types of economies.
 Command economy - controlled centrally by a government
 Market economy - decisions are determined by the market
 Traditional economy - decisions are based in customs and traditions

Business decisions are influenced by consumer demand.------ M
Change happens slowly. ------ T
Economic growth is not a high priority. ------ T
People choose their careers. ------ M
Resources are owned by the government. ------ C
The government makes most business decisions ------ C


What type of economy does each statement describe?


Select C for Command economy .


Select M for Market economy .


Select T for Traditional economy .


Change is slow.
(T)

Consumer demand influences business decisions.
(M)

Economic growth is not a top priority.
(T)

Most business decisions are made by the government.
(C)

People choose their jobs.
(M)

Resources are government-owned.
(C)

Salaries are negotiated between employees and employers.
(M)

The government decides which jobs people have.
(C)


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