Economy

3. The principle that emphasizes minimal government intervention in the economy
4. Type of economy where production is based on customs and historical precedent
6. The theory suggesting that markets are regulated by self-interest and competition.
12. The central question of "For whom should goods and services be produced?" belongs to this category
15. The founding economist who argued against government interference in trade
17. The term describing the interconnectedness of global economies
18. The process of reducing barriers to trade between countries.
19. The international organization established in 1995 to administer global trade agreements.
20. Policy goal of the U.S. to promote and expand
21. Economic theory advocating communal ownership and a classless society

1. A country with a mixed economy and significant government control over the oil industry.
2. The book by Adam Smith that laid the foundations of classical free market economic theory
5. Economic system that combines private and public enterprise
7. The economic system characterized by private property, competitive markets, and little government intervention
8. The economic system where the government controls the means of production
9. This country's economy has slowly opened its markets since the late 1970s
10. The agreement that created a free trade zone between Canada, Mexico, and the United States
11. The term used to describe the economic freedom to choose one's occupation
13. The type of jobs often moved to other countries for cheaper labor
14. The country used as a modern example of a command economy
16. The right to buy and own property, a fundamental aspect of economic freedom.