Across
- 4. Organized way a society provides for the wants and needs of its people
- 10. 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
- 11. Successor of the European Coal and steel community established in 1933 by the Maastricht Treaty
- 13. Certificates that could be used to purchase government-owned property during privatization
- 14. Economic system in which private citizens own and use the factors of production in order to generate profits
- 15. Meeting place or arrangement through which buyers and sellers interact to determine the price and quantity of an economic product
- 19. Market in which goods and services are sold illegally
- 21. Production process requiring large amounts of capital in relation to labor
- 22. GDP on a per-person basis, can be expressed in current or constant dollars
- 23. economic system that has some combination of traditional command, and market economics; also see modified free enterprise economy
- 24. Economic system characterized by a central authority that makes most of the major economic decisions
- 25. Forced common ownership of factors of production; used in the former soviet union in agriculture and manufacturing
Down
- 1. Economic system in which government owns some factors of production and has a role in determining what and how goods are produced
- 2. economic system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom
- 3. Central planning authority in the former soviet union devised and directed Five Year Plans.
- 5. Conversion of state-owned factories and other property to private ownership
- 6. worst period of economic decline in U.S history, lasting from 1929 to 1939
- 7. Independent owned group of Japenese firms joined and governed by the external board of directors in order to regulate competition
- 8. Fundamental restructuring of the Soviet economy; policy introduced by Gorbachev
- 9. economic and political system in which factors of production are collectively owned and directed by the state, a classless society in which everyone works for the common good
- 12. Shift of an economy, or part of an economy, from private ownership to government ownership
- 16. Independent Polish Labor Union was founded in 1980 by Lech Walesa
- 17. Number of people over a square mile
- 18. China's second Five Year Plan began in 1958, which forced the collectivization of agriculture, and rapid industrialization
- 20. Economic plan used by the Soviet Union and China to coordinate the development of agriculture and industry