Economic Systems and the Global Economy

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Across
  1. 2. The exchange of goods and services between people, businesses, or countries.
  2. 5. The amount of a good or service that consumers are willing and able to buy at different prices.
  3. 7. The struggle among businesses to attract customers by offering better prices, quality, or products.
  4. 8. An economic system where buyers and sellers influence prices and production through voluntary exchange.
  5. 9. The human effort used to create goods and provide services.
  6. 11. The official form of money used by a country, such as the U.S. dollar, euro, or yen.
  7. 13. A person who buys and uses goods or services.
  8. 16. An economic system based mainly on customs, habits, and ways of life passed down through generations.
  9. 18. The land, labor, capital, and entrepreneurship used to produce goods and services.
  10. 19. Tools, machines, buildings, and equipment businesses use to produce goods and services.
  11. 20. Goods and services purchased by the United States from other countries.
  12. 23. The process of trading one nation’s currency for another nation’s currency.
  13. 26. A tax placed on imported goods, often used to protect domestic businesses or influence foreign trade.
  14. 27. A period of declining economic activity, often involving lower production and higher unemployment.
  15. 28. A general rise in prices that reduces the purchasing power of money.
  16. 29. An economic system where the government decides what goods will be produced, how they will be made, and who receives them.
Down
  1. 1. The basic economic problem caused by limited resources and unlimited human wants.
  2. 3. A person or business that creates goods or provides services.
  3. 4. The condition where the United States and other countries rely on one another for goods, services, resources, and markets.
  4. 6. A person who starts and manages a business while accepting the risk of possible loss.
  5. 10. An economic system where private individuals and businesses own most resources and make decisions based on profit.
  6. 12. The practice of focusing on producing certain goods or services efficiently and trading for other needs.
  7. 14. Goods and services produced in the United States and sold to buyers in other countries.
  8. 15. The growing connection among countries through trade, technology, communication, investment, and culture.
  9. 17. The money a business has left after subtracting its costs from its revenue.
  10. 21. An economic system where the government or community owns or controls many major resources and industries.
  11. 22. A government rule that guides or controls business activity.
  12. 24. An economic system where the government controls nearly all property, production, and economic decisions.
  13. 25. The amount of a good or service that producers are willing and able to sell at different prices.
  14. 30. The type of economy used by the United States, combining private business with government regulation and public services.