Which of the following is the best description of an economy as described in your textbook?Group of answer choicesIt is a system of power and authority to finance governments.It is a system of producing and distributing goods and services.It is a system of protecting the people from unsafe products.It is a system of checks and balances.

Which of the following correctly defines the economy?A.the institution that manages our daily livesB.the process of turning ideas into goodsC.the social institution that organizes a society’s production, distribution, and consumption of goods and servicesD.a government-run element of societySubmit

The parts of an economy that have to do with the borrowing, investing, or transferring of money are collectively referred to as the _____ system.

The economic system under which basic industries are operated by the government or owned by the private sector under strong government control is called:Group of answer choicescapitalismScratchsocialismScratchcommunismScratchpublic enterpriseScratchlaissez faireScratch

Which type of economy has a government that plays a role in a few sectors but basically lets society take the economic lead?Group of answer choicesTraditional EconomyMixed EconomyCommand EconomyMarket EconomyNext

.An economic system whereby the government controls the means of production and shares the wealth of the nation equally is called  _____________a. Communismb. Capitalism c.c. Socialismd. Oligarchy.