Across
- 3. Advantage, A country's ability to produce goods with higher efficiency in comparison to another countries.
- 9. System, The structure and rules a country use to make laws and govern authority.
- 11. Cost, Taking the next best option over another because it will have a better opportunity available.
- 12. Planned Economy, The government controls production, pricing, and distribution of goods and services.
- 13. Economies, Countries that have lower industrialization, income and living standards.
- 14. The government seeks totals control over its peoples public and private life.
- 15. Policy, Actions taken by a bank to influence a country's economy.
- 17. Economy, A mixed economy is built up with both public and private businesses.
- 19. System, The way a society organises production of goods and services.
- 20. Domestic Product, The total value of products and services produced within a country.
- 21. Economy, When supply, demand and pricing is decided by private individuals and businesses involved with the government.
Down
- 1. Policy, Government using things like taxes to influence the economy.
- 2. Economies, Countries with lots of industrialization, income and high standards of living.
- 4. The action of attempting to influence the government or policy while on the behalf of a particular interest.
- 5. When citizens have the power to vote and bring change into their government.
- 6. Advantage, A country's ability to produce goods at a lower opportunity cost than another.
- 7. cycle, A reoccurring pattern of expansion and contraction in economic activity over a period.
- 8. Flow Model, A diagram that shows the flow of money, goods and service through businesses and households and governments.
- 10. Opposite to democracy, only one person holds power.
- 16. In Transition, When the government decides to shift from being a centrally planned economy to a market-based economy.
- 18. of Economic Freedom, A measurement of countries economic freedom (e.g. Property rights, free trade, limited government).