Angie's Chapter 2

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Across
  1. 3. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
  2. 4. worst period of economic decline in U.S. History, lasting from 1929-1939
  3. 6. china's second five-year plan, which began in 1958, and forced collectivization of agriculture and rapid industrialization
  4. 7. conversion of state-owned factories and other property to private ownership
  5. 13. production processes requiring large amounts of capital in relation to labor
  6. 14. economic and political system in which factors of production are collectively owned and directed by the state; a theoretically classless society in which everyone works for the common good
  7. 17. comprehensive, centralized economic plan used by the soviet union and China to coordinate the development of agriculture and industry
  8. 20. shift of an economy or part of an economy from private ownership to government ownership
  9. 22. central planning authority in the former soviet union that devised and directed five-year plans
  10. 23. economic system characterized by a central authority that makes most of the major economic decisions
  11. 24. independent Polish labor union founded in 1980 by Lech Walesa
  12. 25. economic system in which government owns some factors of production and has a role in determining what and how goods are produced
Down
  1. 1. organized way a society provides for the wants and needs of its people
  2. 2. Successor of the European Coal and steel community established in 1993 by the Maastricht Treaty
  3. 5. GDP on a per-person basis; can be expressed in current or constant dollars
  4. 8. certificates that could be used to purchase government-owned property during the privatization
  5. 9. economic system in which private citizens own and use the factors of production in order to generate profits
  6. 10. forced common ownership of factors of production; used in the former soviet union in agriculture and manufacturing
  7. 11. meeting place or arrangement through which buyers and sellers interact to determine the price and quantity of an economic product; may be local, regional, national, or global
  8. 12. economic system in which the allocation of scarce resources, and other economic activity is the result of ritual, habit, or custom
  9. 15. economic system in which supply, demand, and price system helps people allocate resources and make the WHAT, HOW, and FOR WHOM to produce decisions; same as free enterprise economy
  10. 16. Number of people per square mile of land area
  11. 18. Market in which goods and services are sold illegally
  12. 19. economic system that has some combination of traditional, command, and market economies; also see modified free enterprise economy
  13. 21. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition