Economic Systems Worksheet
Explore different economic systems including traditional, command, market, and mixed economies with this Grade 9 Social Studies worksheet.
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Economic Systems
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Read each question carefully and provide your best answer. This worksheet covers different types of economic systems and their characteristics.
1. Which economic system is characterized by a strong central government that makes all economic decisions?
Market Economy
Command Economy
Traditional Economy
Mixed Economy
2. In which economic system are economic decisions primarily based on custom and historical precedent?
Command Economy
Market Economy
Traditional Economy
Mixed Economy
3. The interaction of supply and demand determines prices in a economy.
4. Most modern economies are economies, combining elements of both market and command systems.
5. In a pure market economy, the government plays a significant role in economic decision-making.
True
False
6. Traditional economies are often found in rural, agricultural societies.
True
False
7. Briefly explain the main characteristics of a market economy.
8. What are the three basic economic questions that every society must answer?
Match each economic system with its description.
9. Command Economy
a. Decisions based on customs and traditions
10. Market Economy
b. Government controls all economic activity
11. Traditional Economy
c. Decisions made by individuals and businesses