Matching Pairs Economic Systems Online version Match the various descriptions to the correct economic system by Zoey Gibson 1 Socialist System 2 Capitalist System 3 Communist System 4 Mixed System 5 Traditional System A central authority/ government makes the major decisions about WHAT, HOW, and FOR WHOM to produce. The use of scarce resources (and nearly all other economic activities) stems from ritual, habit, or custom Nations economic decisions are the result of individual decisions by buyers and sellers in the marketplace Government owns the means of production for basic goods An economic system that has some combination of traditional, command, and free enterprise systems