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