Latin America Economics

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Across
  1. 3. The act of economically punishing another nation
  2. 4. an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses
  3. 6. the percentage of adults who can read and write
  4. 8. Growth an increase in the production of economic goods and services in one period of time compared with a previous period
  5. 12. The system by which one currency is exchanged for another; enables international transactions to take place
  6. 14. the skills, knowledge, and qualifications of a person, group, or workforce
  7. 15. Anything that slows down or prevents one country from exchanging goods with another
  8. 17. a system that relies on customs, history, and time-honored beliefs
  9. 18. An official ban on trade with a particular country; goal – to punish another country by suspending trade
  10. 19. protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities
Down
  1. 1. A limit on the amount of a foreign good that can be imported; goal – to protect domestic industry
  2. 2. a nation's central government own and control the means of production
  3. 5. Tax placed on goods coming into a country; goal to protect domestic industry
  4. 7. someone who takes risks to start a new business
  5. 9. Both parties (or countries) in the transaction expect to gain something from the exchange
  6. 10. The products a country makes best and that are in demand on the world market
  7. 11. the man-made materials that are needed to produce goods and services
  8. 13. total dollar value of all goods and services produced by a country in one year
  9. 16. current trade agreement between United States, Mexico, and Canada