Alex Uhler Chapter 2

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Across
  1. 2. Independently owned group of Japanese firms joined and governed by an external board of directions in order to regulate competition
  2. 4. Successor of the European coal and steel community established in 1993 by the Maastricht treaty
  3. 5. Economic system in which private citizens own and use the factors of production in order to generate profits
  4. 7. Central planning authority in the former Soviet Union that devised and directed five-year plans
  5. 8. Gross domestic product on a per person basis; can be expressed in current or constant dollars
  6. 9. Number of people per square mile of land area
  7. 11. Certificates that could be used to purchase government-owned property during privatization
  8. 12. 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
  9. 14. 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
  10. 17. Forced common ownership of factors of production; used in the former Soviet Union in agriculture and manufacturing
  11. 18. Shift of an economy, or part of an economy, from private ownership to government ownership
  12. 19. China's second five-year plan, begun in 1958 which forced the collectivization of agriculture and rapid industralization
  13. 20. Conversion of state-owned factories and other property to private ownership
Down
  1. 1. Comprehensive, centralized economic plan used by the Soviet Union and China to coordinate development of agriculture and industry
  2. 3. Production process requiring large amounts of capital in relation to labor
  3. 6. Economic systems that have some combination of traditional, command, and market economies; also see modified free enterprise economy
  4. 7. Worst period of economic decline in U.S. history, lasting from approximately 1929 to 1939
  5. 10. Market in which goods and services are sold illegally
  6. 13. Fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
  7. 15. Independent Polish labor union founded in 1980 by Lech Walesa
  8. 16. Meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product; may be local, regional, national, global