Across
- 1. An individual's own personal gain
- 3. planned economy/ An economy in which the government makes all decisions on the 3 key economic questions
- 7. property/ Property that is individually owned. not owned by the government
- 8. Any arrangement that allows buyers and sellers to exchange things
- 9. economy/ Another name for a centrally planned economy
- 11. an organization that uses resources to produce a product or service, which it then sells
- 13. the hope of reward or fear of penalty that encourages a person to behave in a certain way
- 14. The struggle among producers for the dollar of consumers
Down
- 2. net/ A set of government that protect people who face unfavorable economic conditions
- 4. Describes a form of government that limits individual freedoms and requires strict obedience from its citizens
- 5. The doctrine that government generally should not intervene in the marketplace
- 6. A political system in which the government owns and controls all resources and makes all decisions
- 7. The amount of money a business receives in excess of its expenses
- 10. A range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society
- 12. economy/ An economic system in which the government is involved to some extent