ECON Chapter 2- Olivia Tobias

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Across
  1. 5. independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
  2. 6. fundamental restructuring of the Soviet economy
  3. 7. economic system in which private citizens own and use the factor of production in order to generate profits
  4. 8. number of people per square mile per land
  5. 10. economic system in which government owns some factors of production and has a role in determining what/how goods are produced
  6. 14. economic system in which supply, demand, and the price system help people allocate resources and make the what, how, whom to produce decisions
  7. 18. certificates that could be used to purchase government owned property during privitization
  8. 20. shift of an economy, or part of an economy, from private to gov’t ownership
  9. 22. the use of scarce resources, and all other economic activity
  10. 24. meeting place or arrangment through which buyers and sellers interact to determine price and quanity of an economic prodcut
  11. 25. comprehensive, centralized economic plan used by the Soviet union and China to coordinate development of agriculture and industry
Down
  1. 1. the worst period of economic decline in the U.S. history
  2. 2. largesr single unified market in the world
  3. 3. economic system that has some combination of traditional, command, and market economies
  4. 4. process requiring large amounts of capital in relation to labor
  5. 9. forced common ownership of factors of production
  6. 11. economic system characterized by a central autority that makes most of the major economic decisions
  7. 12. central planning authority in the former Soviet union that devised and directed five- year plans
  8. 13. a state of economic and political system in which factors of production are collectivey owned and directed by the state
  9. 15. gross domestic prodcut on a per person basis
  10. 16. independent Polish labor union
  11. 17. organized way a socitey provides for the wants and needs of its people
  12. 19. conversion of state-owned factories and other property to private ownership
  13. 21. market in which goods and services are sold illegally
  14. 23. China’s second five-year plan, collectivization, and industrilization