Economics HMH

3. businesses where people make finished products from raw materials
4. the process in which countries are increasingly linked to each other through culture and trade
7. the value of all goods and services produced within a country in a single year (GDP)
10. businesses that provide services rather than goods
11. the removal of trade barriers between nations
14. any law that limits free trade between nations
15. the human time, effort, skills, and talent needed to produce goods and services
16. is used to make other goods—like machinery being used by a farmer
17. government goods and services that the public consumes; highways are an example
18. provide the raw materials needed to make goods
19. motivation, or reason to do something
20. an economic system based on free trade and competition
21. an economic system in which the central government makes all economic decisions
22. an economy that is a combination of command, market, and traditional economies
23. a person who organizes, manages, and assumes the risk of a business

1. businesses that focus on growing crops and raising livestock
2. an economic system in which businesses can compete freely with one another with little government intervention; capitalism
5. culture traits that are well known and widely accepted
6. countries with strong economies and a high quality of life
8. countries with less productive economies and a lower quality of life
9. an economy in which production is based on customs and tradition and in which people often grow their own food, make their own goods, and use barter to trade
12. businesses that sell directly to final customers
13. businesses that sell to businesses