US Economics

3. Measure of a country's economic performance, calculated as the total value of all goods and services produced within a country's borders in a specific time period.
4. International trade left to its natural course without tariffs, quotas, or other restrictions.
5. Economic philosophy advocating minimal government interference in the marketplace.
8. Economy Economic system where decisions are based on customs, traditions, and rituals.
9. Economic system where central authorities make decisions about what, how, and for whom to produce.
10. The process of increased interconnectedness and interdependence among countries.
11. Scottish economist and philosopher known as the father of modern economics, associated with the idea of the invisible hand.

1. Economic system characterized by private ownership of the means of production and the pursuit of profit.
2. An economic system that combines elements of both capitalism and socialism.
6. An economic system where prices are determined by supply and demand with little government intervention.
7. German philosopher, economist, and author of "Das Kapital," a key figure in the development of communism.