The U.S. and The Global Economy

123456789101112131415161718
Across
  1. 4. Type of economy that combines parts of both free market and government control.
  2. 5. Type of economy characterized by minimal external trade and self-sufficiency in goods.
  3. 7. General term for an agreement among countries that aims to reduce trade barriers and increase economic cooperation.
  4. 11. This type of economy is based on customs and precedents. It also focuses on community and familial roles.
  5. 14. This agreement aimed to eliminate trade barriers between the United States, Canada, and Mexico.
  6. 16. Agreement aimed at decreasing trade barriers and tariffs between more than two countries, often regional.
  7. 18. This term refers to the degree of personal choice individuals have in an economic system.
Down
  1. 1. The basic concept in a capitalist economy that focuses on individual ownership rather than communal or state ownership.
  2. 2. The economy type that is primarily based on agricultural practices and often found in countries with limited industrial growth.
  3. 3. This economic system relies on market forces with minimal governmental interference and is characterized by private property and individual choice.
  4. 5. Country that transitioned from a pure command economy to incorporating market-based elements since the 1980s.
  5. 6. The last name of the 18th century economist who promoted the idea of the “Invisible Hand” in a free market.
  6. 8. Organization that aims to oversee and liberalize international trade.
  7. 9. Last name of the philosopher whose ideas are the basis of many command economies.
  8. 10. North _____ is often cited as the most prominent modern example of a centralized economy where the government makes all economic decisions.
  9. 12. The policy mechanism through which countries attempt to protect local businesses and workers from international competition.
  10. 13. Policy approach that avoids governmental interference in economic transactions.
  11. 15. A type of economy where all major decisions are made by the state. It is often seen in authoritarian regimes.
  12. 17. Describes an economy where the government intervenes to control certain aspects but not all. It is often seen in Western democracies.