Chapter 2 Crossword

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Across
  1. 2. Production process requiring large amounts of capital in relation to labor.
  2. 6. Fundamental restructuring of the Soviet economy; policy introduced by Gorbachev.
  3. 7. Population _______ is the number of people per square mile of land.
  4. 9. This union was the successor of the European Caol and Steel community established in 1993 by the Maastricht Treaty.
  5. 10. Economic system characterized by a central authority that makes most of the major economic decisions.
  6. 11. Conversion of state-owned factories and other property to private ownership.
  7. 16. Independent Polish labor union founded in 1980 by Lech Walesa.
  8. 17. This market is one in which goods and services are sold illegally.
  9. 19. Economic system in which the government owns some fators of production and has a role in determining what and how the goods are provided.
  10. 20. Central planning authority in the former Soviet Union that devised and directed Five-Year Plans.
  11. 21. Economic system in which the allocation of scarce resources and other economic activity is the result ofritual, habit, or custom.
  12. 23. Worst period of economic decline in U.S. history, lasting from about 1929-1939.
Down
  1. 1. Comprehensive, centralized economic plan used by the Soviet Union and China to coordinate the development of agriculture and industry.
  2. 3. Economic and political system in which factors of production are collectively owned and directed by the state.
  3. 4. Economic system in which supply, demand, and the price system help the people allocate resources and make the WHAT, HOW, and FOR WHOM to produce decisions.
  4. 5. Economic system that has some combination of traditional, command, and market economies.
  5. 8. Forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing.
  6. 12. Economic Systems are an organized way that a society provides for the _____ and needs of its people.
  7. 13. Independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition.
  8. 14. GDP ____ is the gross domestic product on a per person basis; can be expressed in current or constant dollars.
  9. 15. Shift of an economy, or part of an economy, from private ownership to government ownership.
  10. 18. Certificates that could be used to purchase government-owned property during privatization.
  11. 22. Meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product.