Economics of Europe

3. Political and economic union of 27 European countries that promotes democratic values and a single market
7. To go up, become a higher/larger number.
10. The people who make purchases.
14. Percentage of people over the age of 15 who can read and write.
15. Total value of goods and services produced in a nation in one year.
16. An economic system that involves businesses and consumers answering the economic decisions.
18. To farm to produce only enough to survive, not producing enough to sell.for an item, rather than in exchange for currency.
20. An economic system that involves custom and past ways of doing things answering the economic questions.
21. One of the factors of economic growth, paying to upgrade factories and machinery.
22. One of the factors of economic growth, business owners risk their own income to start a new business.
23. An economic system that involves the government responding to the economic questions.

1. To be in a state of short supply.
2. Converting one nation's currency into that of another.
4. A trade barrier, a limit on imported goods.
5. One of the factors of economic growth, paying for training and education for workers.
6. A trade barrier, a tax on imported goods.
8. One of the factors of economic growth, naturally occurring things in nature.
9. To focus on the narrow range of production where you will be successful. Based on skill, or available resources.
11. The measure of the quality of life in a nation.
12. The people who make the product.
13. To go down, become a lower/smaller number.
17. An economic system that involves the government, businesses, and consumers to work together to answer the economic questions.
19. A trade barrier, a ban on imported goods OR on trade with a specific nation. Often called a sanction.