Economics 2-3

4. central planning authority in the former Soviet Union that devised and directed Five-Year Plans
8. market in which goods and services are sold illegally
10. gross domestic product on a per person basis; can be expressed in current or constant dollars
12. independent Polish labor union founded in 1980 by Lech Walesa
13. shift of an economy, or part of an economy, from private ownership to government ownership
14. forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
16. comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
17. established in 1993 by the Maastricht Treaty, its 28 member countries make it the largest single unified market in the world in terms of population and output

1. requiring large amounts of capital in relation to labor.
2. certificates that could be used to purchase government-owned property during privatization
3. entering into an activity
5. national policy of avoiding international alliances and economic interactions
6. number of people per square mile of land area
7. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
9. conversion of state-owned factories and other property to private ownership
11. China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
15. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev