Across
- 4. is an economic model characterized by private ownership, minimal government intervention, and market-driven decisions based on supply and demand.
- 5. the structure a society uses to produce, distribute, and consume goods and services, answering the fundamental questions of what
- 6. is an economic system driven by supply and demand, where private individuals and businesses make decisions about production and consumption.
- 7. are the income households receive from businesses in exchange for supplying the factors of production—labor, capital, land, and entrepreneurship
Down
- 1. a system based on agriculture, fishing, hunting, and gathering, where production is driven by customscommandeconomy
- 2. the fair and just distribution of wealth, opportunities, and resources within a society
- 3. a system combining private economic freedom (capitalism) with government intervention (socialism) to maximize efficiency while ensuring social welfare