Economics Vocab Chapter 2

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Across
  1. 2. Number of people per square mile of land area
  2. 4. Economic system characterized by a central authority that makes most of the economic decisions
  3. 5. Central planning authority in the former soviet union in agriculture and manufacturing
  4. 6. gross domestic product on a per person basis; can be expressed in current or constant dollars
  5. 8. Production process requiring large amounts of capital in relation to labor
  6. 10. Independently owned group of Japanese firms joined and governed by an external board of directors in order to regulate competition
  7. 11. Successor of the European coal and steel community established in 1993 by Maastrich treaty
  8. 13. China's second Five year plan begun in 1958, which forced collectivization of agriculture and rapid industrialization
  9. 14. Economic system in which private citizens own and use the factors of production in order to generate profits
  10. 15. Economic system in which the allocation of scarce resources, and other economic activity is the result of ritual, habit, or custom
  11. 17. Independent polish labor union founded 1980 by Lech Walesa
  12. 18. Economic system that has some combination of traditional command and market economies; also see modified free enterprise economy
  13. 19. Meeting place or arrangement through which buyers and sellers interact to determine price and quality of an economic product; may be local reginal, national, or global
  14. 20. Economic system in which government owns some factors of production and has a role in determining what goods are produced
Down
  1. 1. Comprehensive, centeralized economic plan used by the soviet union and China to coordinate development of agriculture and industry
  2. 3. Conversion of state owned factories and other property to private ownership
  3. 6. Worst period of economic decline in U.S. history, lasting from around 1929-1939
  4. 7. Fundamental restructuring of the soviet economy: policy introduced by Gorbachev
  5. 9. Conversion of state owned factories and other property to private ownership
  6. 12. Shift of an economy or part of an economy from a private ownership to government ownership
  7. 16. Organized way a society provides for the wants and needs of its people