Unit 5 - SWA Economies: Vocab Quiz #1 (11/2/2022)

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Across
  1. 2. a tax on imported goods
  2. 3. choosing one specific skill or product to pursue over others
  3. 6. the government controls all factors of the economy market economy, economic decisions are based on what people want to sell and buy (supply and demand)
  4. 7. buy (supply and demand)
  5. 8. an obstacle introduced to reduce trade, usually to make a political statement or to protect domestic industries from foreign competition
  6. 9. a restriction on the amount of an imported good
  7. 13. within or inside a country
  8. 14. economic punishments forced on a country to achieve a political goal
  9. 16. the ability of people in a society to make economic decisions actions
  10. 18. an economy that falls somewhere in between a pure market and pure command economy
  11. 20. buying, and shipping goods from another country
  12. 21. when trade with a country is forbidden completely
Down
  1. 1. the development of an increasingly worldwide economy in which countries depend on one another for economic growth
  2. 2. people produce only what they need to survive by farming, hunting, or gathering
  3. 4. to put money into something in hopes of making a greater profit
  4. 5. economic decisions are based on what people want to sell
  5. 10. from outside a country (from another country)
  6. 11. the range of economies from pure market systems to pure command systems
  7. 12. money given by the government to a domestic industry/business so that the price of a good or service can compete with imported goods
  8. 15. the state of being short in supply
  9. 17. selling, and shipping goods to another country
  10. 19. refers to factors that involve money, business, and/or trade