Economics

3. When the price of a good is determined by buyers’ wants and sellers’ willingness to produce.
5. A system where the government makes all major economic decisions.
7. A tax placed on imported goods.
8. Goods shipped to other countries.
10. A measure of the total value of goods and services a country produces in one year.

1. When countries depend on each other for goods, labor, and resources.
2. The trade of goods and services between nations.
4. Goods brought into a country.
6. A system where individuals and businesses make most economic decisions.
9. The basic economic problem that resources are limited but wants are unlimited.