Economics and Trade Review

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Across
  1. 2. Political economic system with private property and competition. Consumers have control.
  2. 5. Stage of the business cycle that shows an increase in positive economic indicators with a booming economy
  3. 7. Category of economy where decisions are made by religious and/or cultural beliefs
  4. 8. Means "per person"
  5. 11. Used to produce the goods and services that satisfy our needs and wants
  6. 13. The organized way we use resources to meet our needs and wants
  7. 16. People are free to work and spend their money as they see fit
  8. 19. Legally binding agreements between individuals and business owners
  9. 21. Category of economy where decisions are made by private companies and consumer demand
  10. 22. Measured by the Consumer Price Index (CPI) and Producer Price Index (PPI)
  11. 23. Category of economy where decisions are made by the government
  12. 26. Political economic system with high taxes and government programs to redistribute wealth
  13. 28. Type of intellectual property protects company names, logos, and slogans
  14. 29. Type of intellectual property protects creative work
  15. 31. Type of trade barrier that totally bans trade
  16. 32. Type of trade barrier that limits the availability of a good
  17. 33. When the amount of product supplied is less than the amount demanded
  18. 34. The study of how resources are used and distributed
  19. 35. Stage of the business cycle that shows the economy reaching its maximum level of growth
  20. 37. Category of economy with elements of both a command and market economy
  21. 38. Stage of the business cycle that marks the end of one cycle
  22. 40. Making products that match the local preferences of a country
  23. 41. The value of goods and services produced by a country's businesses
Down
  1. 1. Type of intellectual property protects inventions
  2. 3. Property is owned by an individual and they choose how to use it
  3. 4. The factor of production that includes the people who have ideas for new businesses
  4. 6. The factor of production that includes the people who work
  5. 9. The factor of production that includes everything found in the earth and seas
  6. 10. Consumers & producers freely and willingly engaging in market transactions
  7. 12. The factor of production that includes the money required to start a new business
  8. 14. Political economic system with the goal of a classless society with government owned property and government control.
  9. 15. The value of goods and services produced within a country's borders
  10. 16. When the amount of product supplied equals the amount demanded
  11. 17. There are limited resources to meet our unlimited needs and wants
  12. 18. Type of trade barrier that increases the cost of a good through taxes
  13. 20. Creates incentive to make new and better products
  14. 24. When the amount of product supplied exceeds the amount demanded
  15. 25. The role of the government in private property is to ________ it through laws
  16. 27. The main motive in a free enterprise system
  17. 30. Type of intellectual property protects private information that gives a company a competitive advantage
  18. 36. Stage of the business cycle that occurs after two quarters of economic contraction
  19. 39. Stage of the business cycle that is when the economy is at its lowest point