Across
- 3. certificates that could be used to purchase government-owned property during privatization
- 4. market in which goods and ervices are sold illegally
- 6. conversation of state-owned factories and other property to private ownership
- 7. economic system in which government owns some factors of production and has a role in determining what and how goods are produced
- 11. 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
- 17. shift of an economy, or part of an economy, from private ownership to government ownership
- 20. economic system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom.
- 21. meeting place of arrangement through which buyers and sellers interact to determine price and quantity of an economic product
- 22. fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
- 24. production process requiring large amounts of capital in relation to labor
- 25. comprehensive, centralized economic plan used by the Soviet Union and CHina to coordinate development of agriculture and industry
Down
- 1. economic system that has some combination of traditional, command, and market economies
- 2. number of people per square mile of land area
- 5. forced common ownership of factors of production; used in former Soviet Union in agriculture and manufacturing
- 8. economic system characterized by a central authority that makes most of the major economic decisions
- 9. central planning authority in the former Soviet Union that devised and directed Five-Year Plans
- 10. economic and political system in which factors of production are collectively owned directly by the state; a theoretically classless society in which everyone works for the common good
- 12. gross deomestic product on a per person basis; can be expressed in current or constant dollars
- 13. independent Polish labor union founded in 1980 by Lach Walesa
- 14. organized way a society provides for the wants and needs of its people
- 15. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
- 16. economic system in which the private citizens own and use the factors of production in order to generate profits
- 18. worst period of economic decline in US history, lasting from 1929 to 1939
- 19. China's second Five-Year Plan, begun in 1958, which forced collectivization of agriculture and rapid industrialization
- 23. successor of the European Coal and Steel Community established in 1993 by the Maastricht Treaty