Mod 9 Topic 1

2. An economic system in which the government owns or controls many major industries.
7. An economy where supply and demand determine prices and production.
8. A measure of the total value of goods and services produced in a country.
10. The amount of a product producers are willing to sell.
11. A person who buys goods and services.
13. Rivalry among businesses to attract customers.
15. Goods and services sold to other countries.
16. The amount of a product consumers are willing to buy.
18. TRADE Trade between countries with few or no restrictions.
19. Goods and services purchased from other countries.

1. A person who starts and operates a business.
2. When a country focuses on producing goods it can make most efficiently.
3. An economy where the government decides what to produce and how resources are used.
4. The way countries rely on one another for goods, services, and resource
5. An economic system where individuals and businesses own most property and make production decisions.
6. The increasing connection of countries through trade, communication, and technology.
9. The exchange of goods and services between people or nations.
12. The type of economy used by the United States that combines free markets with some government involvement.
14. A person or company that makes goods or provides services.
17. A tax placed on imported goods.