Topic 2 Terms Economics

1234567891011
Across
  1. 1. the hope of reward or fear of penalty that encourages a person to behave in a certain way.
  2. 6. a person or group of people living in a single residence.
  3. 7. set of programs to protect people who face unfavorable economic conditions such as layoffs, injuries, or natural disasters
  4. 9. describes a form of government that limits individual freedoms and requires strict obedience from its citizens
  5. 10. a range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society
  6. 11. an economic system in which decisions on the three key economic questions are based on voluntary exchange in markets.
Down
  1. 2. a political system in which the government owns and controls all resources and means of production and makes all economic decisions
  2. 3. the concentration of the productive efforts of individuals and businesses on a limited number of activities.
  3. 4. any arrangement that allows buyers and sellers to exchange things.
  4. 5. the amount of money a business receives in excess of its expenses
  5. 8. the structure of methods and principles a society uses to produce and distribute goods and services