Across
- 1. Book written by Adam Smith suggesting that economic freedom would lead to successful and wealthy nations
- 3. 1. What goods and services should be produced? 2. How should they be produced? 3. For whom should they be produced?
- 5. Combines the competition, self-interest, and profit motive of free market economies with the government regulation and restrictions of command economies.
- 7. Free trade agreement with the goal to eliminate free trade barriers, promote fair competition, and increase investment opportunities among the US, Canada, and Mexico.
- 8. an economic system that is centrally controlled by a powerful government.
- 10. An early economist who believed that the free market system was the best way to organize the economy.
Down
- 2. Based on customs and historical precedent
- 4. the ____ _____ ______ helps administer free trade agreements by handling various disputes and providing a forum for member nations to negotiate
- 6. Individuals in this economic system are able to decide what goods and services should be produced, how they should be produced, and for whom they are produced.
- 9. An individual’s right to answer the three basic economic questions without interference from the government