Economic Systems The Canadian economy is not a completely free market because 1 point 0 the government regulates some economic transactions. 0 we have to pay for goods and services. 0 producers and consumers are equal. 0 resources are used wisely. What type of economy does Canada have? 1 point 0 Command O Mixed 0 Traditional 0 Free Market What is an advantage of a Free Market Economy 1 point 0 There are social programs that are tax funded O The market is run by voluntary participation 0 It prevents people becoming 'super rich' 0 Everyone has an equal opportunity to be successful What kind of system can control prices and wages? 1 point O Free Market 0 Traditional O Mixed 0 Command What makes a country a 'mixed economy?' 1 point 0 When there is a high level of diversity in the population When people can choose where and what they buy, but can also be protected by tax funded programs Where trade is done between nations 000 When there can be both the super rich and super poor Why is the USA *not* a Free Market Economy? 1 point 0 There are issues with the justice system 0 They have a president 0 The have social programs that are tax funded O The stock market is public Which nations have a command economy? (Choose 2) 1 point D North Korea D Canada Which is NOT true about a Free Market Economy? 1 point C) There is limited government control on what/how to produce 0 There is no economic plan 0 The market determines prices 0 Resources are owned by the government What is a Command/Planned Economy 1 point C) a central authority to an item 0 a central authority decides what goods will be produced 0 supply and demand drive the market 0 none of the above Which economic system relies on barter and trade? 1 point 0 Command 0 Mixed 0 Traditional 0 Free Market