Across
- 2. A _____ is a tax imposed by one country on the goods and services imported from another country.
- 5. Many countries in the developed western hemisphere follow a _____ economic system.
- 7. Goods or services bought in one country that was produced in another.
- 10. A _____ is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period.
- 12. A ______ Economy is a dominant centralized authority – usually the government – that controls a significant portion of the economic structure.
- 13. This is when consumer and asset prices decrease over time, and purchasing power increases. Essentially, you can buy more goods or services tomorrow with the same amount of money you have today.
- 15. The balance of _____ is a statement of all transactions made between entities in one country and the rest of the world over a defined period, such as a quarter or a year.
- 18. They are someone who creates and supplies goods or services.
- 19. _______ economic system is based on goods, services, and work, all of which follow certain established trends. It relies a lot on people, and there is very little division of labor or specialization.
- 20. They are defined as individuals or businesses that consume or use goods and services.
- 24. The gap between limited resources and theoretically limitless wants.
- 25. occurs when prices rise, decreasing the purchasing power of your dollars.
- 27. A severe recession that lasts for an extended amount of time.
- 28. Items essential for survival or business operations.
- 29. The economic cycle is the fluctuation of the economy through four stages. These four stages are expansion, peak, contraction, and trough.
- 31. An ______ is a government order that restricts commerce with a specified country or the exchange of specific goods. This is usually created because of unfavorable political or economic circumstances between nations.
- 33. Goods and services that are produced in one country and sold to buyers in another.
Down
- 1. The price at which quantity supplied equals quantity demanded is the _____ price.
- 3. This is an economic system where individuals or private corporations own and operate the resources and means of production.
- 4. _______ Economic systems are based on the concept of free markets. In other words, there is very little government interference.
- 6. This is an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.
- 8. This is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.
- 9. Items that are tangible/physical.
- 11. Balance of _____ is the difference between the value of a country's exports and the value of a country's imports for a given period.
- 14. This is the general term for the basic physical systems of a business, region, or nation. Examples include transportation systems, communication networks, sewage, water, and electric systems.
- 16. An _____ rate is the value of a country's currency vs. that of another country or economic zone.
- 17. Products that are consumed once they are produced.
- 21. A decline in the GDP over two consecutive quarters, or a six-month period.
- 22. _____ (also known as equity) is a security that represents the ownership of a fraction of a corporation.
- 23. ____ are LIMITED
- 26. A _____ project is a long-term, capital-intensive investment project with the purpose to build upon, add to, or improve a capital asset.
- 30. Items or services that add comfort to our lives, but are not essential.
- 32. This is the monetary value of all finished goods and services made within a country during a specific period (Abbreviated).