US & Global Economy Systems

1. also known as GDP total value of all goods and services produced in the country each year
3. when scarcity of money or time forces you to make a choice
7. items produced in an economy
9. flow of goods and services across borders and the spread of culture and ideas
11. all human made resources that are used to produce goods and services
14. US government role in the economy is to
15. country that is a mixed economy
17. type of economy more focused on certain details like individuals
20. type of economy that focus on behavior of entire economy
24. basic elements from goods and services are produced
25. tax on specific good or service
27. uses for resources to produce goods and services
30. minimal amounts of food, water or shelter needed to survive
31. Unites States ecomony is based on this
32. cost imposed on innocent third parties
34. all factors that influence amount of goods and services shipped across international borders
35. risk-takers with drive and ambition that uses all resources to produce goods and offer services
36. tax on retail purchase
37. a payment for labor

2. tax on profits earned by corporations
4. Method used by society to produce goods and services
5. change capitalism through peaceful means to bring about economic equality
6. government controls everything in the economy
8. happens when we want more of something we can have
10. things people desire that are not essential
12. the act of making of goods and services
13. what is considered all natural resources
16. economy that government guides and regulates production of goods and services
18. income tax on individuals
19. also called a capitalist economy
21. trade in goods and services
22. activities produced in an economy
23. time and effort people do for production process
26. A country that is one of the leading country that receives US goods
28. an example that is consider capital
29. economic system in which people are free to own the means to produce
33. one factor of production