9.1 application

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Across
  1. 2. Economic system in which the central government controls all production and distribution decisions
  2. 5. Economic system based on customs and habits passed down through generations
  3. 7. General rise in prices across an economy that reduces purchasing power over time
  4. 8. Goods and services brought into a country from abroad for sale or use
  5. 10. Situation where a country exports more than it imports resulting in a trade advantage
Down
  1. 1. System where prices and production are determined by supply and demand with little government interference
  2. 3. Process of increasing economic integration and interdependence among world nations
  3. 4. Tax placed on imported goods to protect domestic industries from foreign competition
  4. 6. Economic system characterized by private ownership and competition in a free market
  5. 9. Exchange of goods and services between nations that connects the global economy