Across
- 1. comprehensive centralized economic plan used by the soviet union and china to coordinate development of agriculture and industry
- 3. certificates that could be used to purchase government owned property during privatization
- 6. market in which goods and services are sold illegally
- 10. economic___ = organized way a society provides for the wants and needs of its people
- 14. shift of an economy from private ownership to government ownership
- 15. ___economies = economic system that has some combination of traditional, command, and market economies
- 17. gross domestic product on a per person basis
- 19. forced common ownership of factors of production
- 21. economic system in which private citizens own and use the factors of production in order to generate profits
- 22. central planning authority in the former soviet union that devised and directed five year plans
- 24. fundamental restructuring of the soviet economy
- 25. conversion of state owned factories and other property to private ownership
Down
- 2. successor of the European Coal And Steel community established in 1993 by the Maastricht Treaty
- 4. market___ = economic system in which supply, demand, and price system help people allocate resources and make the WHAT HOWd and FOR WHOM to produce decisions
- 5. china’s second five year plan which forced collectivization of agriculture and rapid industrialization
- 7. ___economy = economic system characterized by a central authority that makes most of the major economic decisions
- 8. ___economy = economic system in which the allocation of scarce resources and other economic activity is the result of ritual, habit, or custom
- 9. independent polish labor union founded 1980 by Walesa
- 11. ___intensive = production process requiring large amounts of capital in relation to labor
- 12. meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product
- 13. economic system in which government owns some factors of production and has a role in determining what and how goods are produced
- 16. independently owned group of Japanese firms joined and governed by an external board of directors to regulate competition
- 18. ___density = number of people per square mile of land
- 20. economic and political system in which factors of production are collectively owned and directed by the state
- 23. Great___ = worst period of economic decline in US history