Classify the descriptions to the statements characterizing economies. Not all statements will be used. An economy in which three major The three main economic questions An economy in which the economic questions are answered by every society must answer interactions of producers and the government, not the market consumers determine how resources What kind of economic leader will are allocated What goods and services are produced? society have? What kind of monetary policy should centrally planned economy society implement? democracy market economy Who will receive the goods and services? family economy How will goods and services be produced? mixed economy Answer Bank