Topic 2 Terms Economics
Across
- 1. the hope of reward or fear of penalty that encourages a person to behave in a certain way.
- 6. a person or group of people living in a single residence.
- 7. set of programs to protect people who face unfavorable economic conditions such as layoffs, injuries, or natural disasters
- 9. describes a form of government that limits individual freedoms and requires strict obedience from its citizens
- 10. a range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society
- 11. an economic system in which decisions on the three key economic questions are based on voluntary exchange in markets.
Down
- 2. a political system in which the government owns and controls all resources and means of production and makes all economic decisions
- 3. the concentration of the productive efforts of individuals and businesses on a limited number of activities.
- 4. any arrangement that allows buyers and sellers to exchange things.
- 5. the amount of money a business receives in excess of its expenses
- 8. the structure of methods and principles a society uses to produce and distribute goods and services