economics puzzle

2. Agreements between countries to reduce tariffs and encourage the free flow of goods and services.
3. A tax or duty to be paid on a particular class of imports or exports.
6. The cost of forgoing the next best alternative when making a decision.
8. A key figure in the development of socialism and communism, Marx argued that capitalism would eventually lead to class struggles.
10. Government policy that involves adjusting spending levels and tax rates to monitor and influence a nation's economy.

1. Known as the "Father of Economics," Smith advocated for free markets where competition and consumer demand should drive economic activity.
4. Decisions regarding investment, production, and distribution are driven by the market (consumers and businesses), with little to no government interference.
5. An economic system in which the government owns and controls the means of production and distribution of goods and services.
7. Focuses on custom and traditions, often using bartering rather than money-based transactions.
9. Combines elements of both free market and command economies, allowing both private and public sector participation.