Across
- 2. one with a high level of economic growth, industrialization, and a higher standard of living
- 3. an industry or commodity that‘s dominated by one corporation that manipulates prices; an extreme result of free-market capitalism without government regulation
- 4. the level of wealth, comfort, material goods, and necessities available to a group of people
- 8. economic and political system in which trade and industry are controlled by private owners for profit
- 9. the persistent rise in the cost of goods and services over time
- 10. a government order that restricts or prohibits trade
- 14. the study of the big economic picture through various economic indicators
- 16. DomesticProduct the total market value of all finished goods and services produced in a country in a given period of time
- 18. criteria and specifications related to the health, safety, and compatibility of goods and services
- 20. the state in which market supply and demand match each other, resulting in price stability
- 21. governmental actions that restrict trade with the intent to protect local businesses from foreign competition
- 24. an economic theory that explains the interaction between the sellers of a resource and the buyers for that resource
- 26. resources, materials, and goods a country produces and sells to another country
- 27. resources, materials, and goods a country buys from another country
- 28. a tax imposed on the goods and services imported from another country
- 30. the exchange of capital, goods, and services between different countries
- 31. the relationship between two or more countries dependent on one another for goods or services
- 32. when a nation or individual concentrates its efforts in producing a limited variety of goods or services
Down
- 1. when businesses compete for a share of profit
- 5. how the availability of a product or service, and how much it’s desired by consumers, affects the price
- 6. a limit placed on the distribution of resources in high demand but in short supply
- 7. the study of behavior in small economic units like businesses and individuals
- 11. one with less economic development,an agriculture-based economy, less industrialization, high population, and high level of unemployment
- 12. an organized way in which a nation or country manages all their buying, selling,and production
- 13. describes the rise and fall in production output; it is generally divided into four stages: expansion, peak (prosperity),contraction (recession), and trough
- 15. a government-imposed restriction on the number or value of imported or exported items
- 17. payment from the government to producers to lower their cost to produce or increase the quantity produced
- 19. economic and political theory promoting collective or government ownership and control of the means of production and distribution of goods
- 22. limited resources and an unlimited demand by a population
- 23. the general reduction of prices in an economy over time
- 25. the desire to make money as the result of a business venture
- 29. the study of how the economies in all parts of the world operate