Across
- 4. The U.S. imports this type of product frequently from countries like Japan and South Korea.
- 6. The total value of all goods and services produced within a country in a given year.
- 8. This economic system allows individuals to own property and businesses with minimal government interference.
- 10. This Asian country has shifted from a command economy toward more market reforms since the 1990s.
- 12. The organization that influences oil prices globally, including countries like Saudi Arabia and Venezuela.
- 13. This global financial institution provides loans to developing countries for economic growth.
- 14. this large Asian country has a mixed economy with both state-owned and private enterprises.
- 16. The type of economy where traditions, customs, and beliefs shape the goods and services produced.
- 18. An organization that promotes free trade between Canada, the U.S., and Mexico.
- 19. A system where supply and demand drive prices and production, with little central planning.
Down
- 1. A European nation known for its strong social welfare programs and a mixed economy.
- 2. A U.S. partner in the Pacific that has a free-market economy and trades heavily in natural gas and beef.
- 3. This North American country’s economy is highly integrated with that of the U.S., especially in auto manufacturing.
- 5. When a country can produce a good more efficiently than another, it has this advantage.
- 6. The international group of 19 countries and the EU that meets to discuss global economic policies.
- 7. The U.S. has a trade deficit when it does this more than it exports.
- 9. An economic system that blends elements of both capitalism and socialism.
- 11. A nation where the government controls most economic decisions and owns major industries.
- 15. The U.S. often engages in this type of exchange with other countries, sending goods out and bringing others in.
- 17. These are placed by governments on imports to protect domestic industries, but can lead to trade wars.