CH. 3 Lesson 3 Vocab

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Across
  1. 4. cannot be totally replaced
  2. 5. means of production are publicly owned
  3. 8. means of production are privately owned
  4. 10. arrangement whereby a group of countries decides to set little or no tariffs on quotas
  5. 12. resources are distributed mainly through families
  6. 13. parts of the economy are privately owned and parts are owned by the government
  7. 14. measurement of what is produced and what is required to produce it
Down
  1. 1. how a society decides on the ownership and distribution of its economic resources
  2. 2. level at which a person, a group, or a nation lives as measured by the extent to which it meets its needs
  3. 3. can be totally replaced
  4. 6. send a product produced in one country to another country
  5. 7. total dollar value of all final goods and services produced in a country during a single year
  6. 9. economic principle by which a country works to create conditions where all the natural resources for meeting the needs of society are available
  7. 11. when a country brings in a product from another country