1. Economic systems An economic system consists of a set of institutional arrangements and a method of coordinating economic activity. The two polar extremes of economic systems are the command system and the market system. Which of the following are characteristics of the market system? Check all that apply. a Production goals or targets are transmitted from top authorities to the individual producing units. The independent decisions of individuals in the marketplace determine the answers to the fundamental economic questions. A dictator or a group of central planners answers the fundamental economic questions. True or False: Most countries in the world use a mix of command and market mechanisms to answer the fundamental economic questions. True False Continue without saving