Government & Economy Vocabulary

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Across
  1. 2. system found in agricultural societies where people live the same way their parents and grandparents did; people produce what they need to survive.
  2. 5. the knowledge and skills a worker gains through education and experience
  3. 6. one leader holds complete power
  4. 7. competition is allowed with little government interference
  5. 9. the executive and legislative branches are separate bodies elected independently by the citizens (separation of powers); checks and balances where each branch can overrule the other, and the presidents answers to the voters, not the legislature.
  6. 10. the degree of wealth and material comfort available to a person or community.
  7. 12. trade barrier that taxes imported goods
  8. 14. system which falls somewhere in between pure market and pure command economies.
  9. 18. is a body with the authority to make laws, enforce those laws, and interpret the laws when disagreements arise; oversees the general welfare of its people.
  10. 19. trade barrier that restricts the amount of a good that can be imported into a country.
  11. 24. The sum total of the value of all the goods and services produced in a country within a year
  12. 26. the government controls what is produced and how it is produced; the government own the resources and decides who gets the products.
  13. 27. restrict trade with foreign countries because they want to sell and produce their own domestic goods.
  14. 28. People who have the right to participate in government
  15. 29. The percentage of a country's people who can read and write.
  16. 30. how much one currency is worth in term of the other
  17. 31. money from one country must be converted into the currency of another country to pay for goods in that country.
  18. 32. native to a country, not foreign
  19. 33. A system of governing in which the ruler's power is limited by law.
Down
  1. 1. government in which citizens elect the legislature and the leader comes from the legislature members, the two branches are fused together
  2. 3. parliamentary and presidential
  3. 4. trade barrier that forbids trade with another country
  4. 8. the concentration of the productive efforts of individuals and firms on a limited number of activities
  5. 11. Raw materials supplied by nature
  6. 13. A person who organizes, manages, and takes on the risks of a business OR inverts something.
  7. 15. economic decisions are based on what its people want to buy and sell; supply and demand for a good or service determines what to produce and how to produce it; who gets a product is determined by how much a person can afford to pay for it.
  8. 16. from another country
  9. 17. every country decides how to distribute its resources to meet the needs of its people; answers three basic questions: What to produce? How to produce? For whom to produce?
  10. 20. expert at a certain skill/production of an item.
  11. 21. the people hold supreme power-elect officials to represent them, and all citizens have equal right to participate in government
  12. 22. buying and selling of items (goods); this occurs because no country has all the resources to efficiently produce everything its people need.
  13. 23. the type of money a country uses.
  14. 25. goods that are used in producing other goods, rather than being bought by consumers.