Across
- 4. A good owned by individuals or private firms, where private property rights are well defined, is called a _______.
- 7. In a _______ economy, economic decisions are mainly made by the government.
- 9. It occurs when different people or economies concentrate on the production of a particular good or a particular production stage of a good.
- 11. _______ to produce: referring to the choice of the types and quantities of goods and services to produce
- 12. The exclusive right to use the good means the owner can _______ others from using the good.
Down
- 1. _______ to produce: referring to the choice about the criteria of who can enjoy the goods and services
- 2. Trade is a _______ for specialisation.
- 3. customs and traditions in a _______ economy.
- 5. Most basic economic problems are solved
- 6. In a market economy, resources are mainly owned by private _______.
- 8. Using an automatic vending machine instead of employing a store keeper to sell drinks is related to the problem of "_______ to produce".
- 10. The distribution of goods are mainly guided by market _______ in a market economy.