Skyla Moore - chapter 2 vocab

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Across
  1. 2. system characterized by a central authority that makes most of the major economic decisions
  2. 5. restructuring of the Soviet economy; policy introduced by Gorbachev
  3. 6. in which goods and services are sold illegally
  4. 10. centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
  5. 12. planning authority in the former Soviet Union that devised and directed Five-Year Plans
  6. 13. way a society provides for the wants and needs of its people
  7. 17. Polish labor union founded in 1980 by Lech Walesa
  8. 19. system in which government owns some factors of production and has a role in determining what and how goods are produced
  9. 20. domestic product on a per person basis; can be expressed in current or constant dollars
  10. 23. place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product; may be local, regional, national, or global
  11. 24. into an activity
  12. 25. common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
  13. 26. of people per square mile of land area
  14. 27. that could be used to purchase government-owned property during privatization
Down
  1. 1. in 1993 by the Maastricht Treaty, its 28 member countries make it the largest single unified market in the world in terms of population and output
  2. 3. and political system in which factors of production are collectively owned and directed by the state; a theoretically classless society in which everyone works for the common good
  3. 4. owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
  4. 7. second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
  5. 8. system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom
  6. 9. large amounts of capital in relation to labor.
  7. 11. of an economy, or part of an economy, from private ownership to government ownership
  8. 14. system in which supply, demand, and the price system help people allocate resources and make the WHAT, HOW, and FOR WHOM to produce decisions; same as free enterprise economy
  9. 15. system in which private citizens own and use the factors of production in order to generate profits
  10. 16. period of economic decline in U.S. history, lasting from approximately 1929 to 1939
  11. 17. of movement
  12. 18. policy of avoiding international alliances and economic interactions
  13. 21. of state-owned factories and other property to private ownership
  14. 22. system that has some combination of traditional, command, and market economies; also see modified free enterprise economy