econ chapter two

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Across
  1. 2. independent polish labor union founded in 1980 by Lech Walesa
  2. 3. economic system characterized by a central authority that makes most major economic decisions
  3. 5. production process requiring large amounts of capital in relation to labor
  4. 6. conversion of state-owned factories and other property to private ownership
  5. 8. economic system in which the allocation of scarse resources, and economic activity, is the result of ritual, habit, or custom
  6. 13. certificates that can be used to purchase government owned property during privatilization
  7. 14. gross domestic product on a per person bias; can be expressed in current or constant dollars
  8. 15. shift of an economy, or part of an economy, from private to government ownership
  9. 16. market in which goods and services and sold illegally
  10. 17. the number of people per square mile land area
  11. 19. independently owned groups of japanese firms joined and governed by an external board of directors to regulate competition
  12. 20. forced common ownership of factors of production; used in agriculture and manufacturing in former societ union
  13. 22. fundamental restructuring of soviet economy; policy intorduced by Gorbachev
  14. 23. economic system in which private citizens own and use the factors of production in order to generate profits
  15. 24. meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product; may be local, regional, national, or global
  16. 25. central planning authority in the former soviet union that ddevised and directed five year plans
Down
  1. 1. china's second five year plan, began in 1958, forced a collectivization of agriculture and rapid industrilization
  2. 4. worst period of economic decline in US history, lasting from 1929-1939
  3. 7. economic system that has some combination of traditional, market, and command economies
  4. 9. economic system in which government owns some factors of production and has a role in determining what and how goods are produced
  5. 10. economic and political system in which factors of production are collectivly owned and directed by state; a theoretically classless society in which everyone works for the common good
  6. 11. economic system in which supply, demand, and the price system help people allocate resources and make what, how, for whom decisions; same as free enterprise
  7. 12. comprehensive, centralized economic plan used by the soviet union and china to coordinate development of agriculture and industry
  8. 18. organized way a society provides for the wants and needs of its people
  9. 21. successor of european cola and steel community established in 1993 by Moastricht Treaty