Question

Correctly match the word with the description market economy natural resources collective farms command economy Traditional Economy mixed economy the military 1. Economic decisions are determined by custom and habit 2. Economic decisions are determined by the government 3. Economic decisions are made by individuals who decide what to produce and what to buy. 4. Has characteristics of a free market and free enterprise as well as some government planning and control. 5. In the years after the communist revolution, the Chinese government organized farmers into 6. The Japanese economy has to make up for the country’s lack of 7. The government of North Korea has spent a great deal of the country's money on Save

Answer 1

Traditional economy - 1. Economic decisions are determined by custom and habit Mixed economy - 4. Has characteristics of a free market and free enterprise as well as some government planning and control. Collective farms - 5. In the years after the communist revolution, the Chinese government organized farmers into the military - 7. The government of North Korea has spent a great deal of the country's money on Save command economy - 2. Economic decisions are determined by the government market economy - 3. Economic decisions are made by individuals who decide what to produce and what to buy. Natural resources - 6. The Japanese economy has to make up for the country’s lack of