Across
- 2. The practice of a nation buying more goods and services from other nations than it exports, resulting in a negative balance. (6)
- 4. A country with this economic system would have little to no government intervention in the economy, focusing purely on supply and demand. (7)
- 6. Type of economic system where the government has significant control over the economy, as seen in North Korea and Cuba. (7)
- 9. System in which economic decisions are based on traditions, customs, and community goals rather than on individual market forces. (9)
- 10. This is what the U.S. uses to measure the total market value of all final goods and services produced in a country. (3)
Down
- 1. Economic concept describing the total value of a nation's exports minus the total value of its imports. (6)
- 3. A market-oriented economic system where the means of production are privately owned, commonly seen in the U.S. and Western nations. (11)
- 5. Type of economy where the government controls most of the factors of production. (9)
- 7. This system describes a blend of private and government control over the economy, commonly seen in countries like Sweden. (9)
- 8. Organization that promotes international trade and resolves trade disputes among its member countries. (3)