Chapter 13: Global Economics

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Across
  1. 2. one with a high level of economic growth, industrialization, and a higher standard of living
  2. 3. an industry or commodity that‘s dominated by one corporation that manipulates prices; an extreme result of free-market capitalism without government regulation
  3. 4. the level of wealth, comfort, material goods, and necessities available to a group of people
  4. 8. economic and political system in which trade and industry are controlled by private owners for profit
  5. 9. the persistent rise in the cost of goods and services over time
  6. 10. a government order that restricts or prohibits trade
  7. 14. the study of the big economic picture through various economic indicators
  8. 16. DomesticProduct the total market value of all finished goods and services produced in a country in a given period of time
  9. 18. criteria and specifications related to the health, safety, and compatibility of goods and services
  10. 20. the state in which market supply and demand match each other, resulting in price stability
  11. 21. governmental actions that restrict trade with the intent to protect local businesses from foreign competition
  12. 24. an economic theory that explains the interaction between the sellers of a resource and the buyers for that resource
  13. 26. resources, materials, and goods a country produces and sells to another country
  14. 27. resources, materials, and goods a country buys from another country
  15. 28. a tax imposed on the goods and services imported from another country
  16. 30. the exchange of capital, goods, and services between different countries
  17. 31. the relationship between two or more countries dependent on one another for goods or services
  18. 32. when a nation or individual concentrates its efforts in producing a limited variety of goods or services
Down
  1. 1. when businesses compete for a share of profit
  2. 5. how the availability of a product or service, and how much it’s desired by consumers, affects the price
  3. 6. a limit placed on the distribution of resources in high demand but in short supply
  4. 7. the study of behavior in small economic units like businesses and individuals
  5. 11. one with less economic development,an agriculture-based economy, less industrialization, high population, and high level of unemployment
  6. 12. an organized way in which a nation or country manages all their buying, selling,and production
  7. 13. describes the rise and fall in production output; it is generally divided into four stages: expansion, peak (prosperity),contraction (recession), and trough
  8. 15. a government-imposed restriction on the number or value of imported or exported items
  9. 17. payment from the government to producers to lower their cost to produce or increase the quantity produced
  10. 19. economic and political theory promoting collective or government ownership and control of the means of production and distribution of goods
  11. 22. limited resources and an unlimited demand by a population
  12. 23. the general reduction of prices in an economy over time
  13. 25. the desire to make money as the result of a business venture
  14. 29. the study of how the economies in all parts of the world operate