Vocab Economics

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Across
  1. 2. lack of movement
  2. 4. economic system in which government owns some factors of production and has a role in determining what and how goods are produced
  3. 6. economic system in which supply, demand, and the price system help people allocate resources and make the WHAT, HOW, and FOR WHOM to produce decisions; same as free enterprise economy
  4. 8. economic system in which private citizens own and use the factors of production in order to generate profits
Down
  1. 1. economic system in which the allocation of scarce resources, and other economic activity, is the result of ritual, habit, or custom
  2. 3. organized way a society provides for the wants and needs of its people
  3. 5. economic system characterized by a central authority that makes most of the major economic decisions
  4. 6. meeting place or arrangement through which buyers and sellers interact to determine price and quantity of an economic product; may be local, regional, national, or global
  5. 7. stressing