Unit 3 Topic 1 - The Global Economy

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Across
  1. 5. The global integration of economies through trade, investment, technology, and finance.
  2. 6. The sum of skills, abilities, knowledge, and competencies of a country’s workforce.
  3. 9. A type of integration where member countries adopt common economic policies, often including a shared currency.
  4. 10. The economist known for developing the theory of comparative advantage.
  5. 11. An increase in the value of a country's currency relative to another currency.
  6. 13. A system where a currency’s value is influenced by market forces but with government intervention.
  7. 14. An international body that deals with the global rules of trade between nations.
  8. 16. The exchange of goods and services across borders without tariffs, quotas, or other restrictions.
  9. 17. The model that explains how income moves through the economy in a cycle involving households, businesses, and governments.
  10. 18. The economist known for developing the theory of absolute advantage in international trade.
  11. 19. An economic theory developed by Michael Porter that explains a nation's competitive success in a particular industry.
  12. 20. A decrease in the value of a country's currency relative to another currency.
Down
  1. 1. The ability of a country to produce more of a good using the same amount of resources as another country.
  2. 2. A type of exchange rate system where the value of the currency is determined by market forces without government intervention.
  3. 3. An exchange rate system where a currency's value is tied to another currency or a basket of currencies.
  4. 4. – A group of countries within a geographic region that reduce trade barriers between members.
  5. 7. An organization that facilitates trade, promotes economic stability, and helps manage international monetary cooperation.
  6. 8. The economist known for developing the theory of competitive advantage.
  7. 12. The ratio of a country's export prices to its import prices, influencing its trade balance.
  8. 13. The name for a large company that operates in multiple countries, influencing trade patterns.
  9. 15. The concept where a country can produce a good at a lower opportunity cost than another country.