The Economy

2. A period of temporary economic decline marked by falling GDP and rising unemployment.
3. This nation’s economic system is largely command-based, with state control of major industries.
7. Trade The principle of trade between nations without tariffs or restrictions.
8. The process of increased interconnectedness and interdependence among countries through trade.
10. A government payment that supports a business or market, often to reduce prices.
11. A market structure where a single company dominates the market, eliminating competition.
12. Reserve The organization responsible for managing monetary policy in the United States.
14. When a government's expenditures exceed its revenues, leading to borrowing.
15. A system where private individuals own and operate the means of production in a free market.
16. When the amount of goods supplied exceeds the demand in the market.
17. The total value of goods and services produced within a country during a specific period.

1. Deficit When a country imports more goods and services than it exports.
4. The general increase in prices and fall in the purchasing value of money.
5. States This country has a mixed economy, combining free-market elements with social welfare policies.
6. Goods or services produced in one country and sold to another.
9. An economic theory where government intervenes to stabilize the economy during recessions.
10. The total amount of a product or service available to consumers in a market.
12. Policy Economic policy involving government spending and taxation to influence the economy.
13. A tax imposed by a government on imports or exports between sovereign states.
14. The desire and ability of consumers to purchase goods or services at various price levels.