Economics CHAPTER 2

4. a government in which the people have a say in government but in which the government owns the major industries.
7. a contest between businesses or individuals to sell a product or service.
8. a system in which individuals and private businesses own and control production.
9. something that is passed down from one group to another
11. Farm Country/Area away from a city.
14. The question of what is needed.
16. money left over after all the costs of production have been paid.
17. an economy in which there is a blend of economic systems.
19. An economy that does things as they were done in the past
21. a person who lives before your time.
23. an economy in which government leaders give the answers to the 3 questions.
24. The question where it is decided how something is produced.

1. items such as electricity, water or gas.
2. large-scale production of basic items
3. a government in which the people have no rights; one person or a small group of people rule the country by force and make all the laws.
5. something that makes a person take an action.
6. a place where people come together to purchase and sell things.
10. The question of where goods and services will go to.
12. a government in which citizens take part.
13. an elected leader who makes and carries out laws.
15. a government in which the government owns all property.
18. aid (money or goods) for those in need.
20. every day items that people purchase
22. believe that government rather than individuals should own a country's major industries.