Economics Crossword

5. An individual's right to answer the 3 basic economic questions without interference from the government.
6. Provided the ideology behind many command economies; thought capitalist systems promoted inequality and divided society into the proletariat and bourgeoisie classes.
7. If an American business is outsourcing work to a third party company located in another country; the relocation of a company's production to another country.
9. Combines the competition, self-interest, and profit motive of free market economies with the government regulations and restrictions of command economies.
10. An early economist, believed the free market system was the best way to organize the economy.

1. Economic system based on customs and historical precedent.
2. Government officials decide how to answer the 3 basic economic questions, since property and resources are owned by the state.
3. Adds to the number of potential workers in the country, increasing the supply off labor.
4. Occurs when a business delegates certain responsibilities to a third party company.
8. Individuals in this economic system are able to decide what good s and services should be produced, how they should be produced, and for whom they are produced.