Voc Chap 2

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Across
  1. 4. The Great Leap _____ is China’s second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
  2. 7. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
  3. 9. independent Polish labor union founded in 1980 by Lech Walesa
  4. 10. The _______ Depression worst period of economic decline in U.S. history, lasting from approximately 1929 to 1939
  5. 11. economic 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
  6. 13. market in which goods and services are sold illegally
  7. 15. ______-Year Plan is a comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
  8. 18. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
  9. 19. requiring large amounts of capital in relation to labor.
  10. 21. A ___________economy is an economic system characterized by a central authority that makes most of the major economic decisions
  11. 22. central planning authority in the former Soviet Union that devised and directed Five-Year Plans
  12. 23. ________ economies is an economic system that has some combination of traditional, command, and market economies; also see modified free enterprise economy
  13. 24. conversion of state-owned factories and other property to private ownership
  14. 25. A _____________economy is an economic system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom
Down
  1. 1. certificates that could be used to purchase government-owned property during privatization
  2. 2. shift of an economy, or part of an economy, from private ownership to government ownership
  3. 3. economic 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
  4. 5. Population ______ number of people per square mile of land area
  5. 6. organized way a society provides for the wants and needs of its people
  6. 8. meeting 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
  7. 12. Union established 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
  8. 14. economic system in which private citizens own and use the factors of production in order to generate profits
  9. 16. ____________ is an economic system in which government owns some factors of production and has a role in determining what and how goods are produced
  10. 17. _______ per capita is gross domestic product on a per person basis; can be expressed in current or constant dollars
  11. 20. forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing