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5.02a EC17 Economic Systems

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Across
2.Something of value that can be used to obtain goods and services; most common form is money\par (3 Words)
3.A country\rquote s arrangement for making and enforcing laws\par
8.A condition resulting from the gap between limited resources and unlimited wants for goods and services\par
9.Any item that is used to accomplish another activity, such as producing/providing goods and services\par
10.All the resources required in the production of goods and services\par (3 Words)
12.A modified command economic system in which government owns the basic means of production and allows private ownership of businesses as well, often called welfare states because governments provide free medical care, education, financial assistance, and other benefits. Government charges high taxes to pay for programs.(Canada, Sweden, and Denmark)\par
13.An economic system in which all or many of the means of production and distribution are owned and controlled by the government, two primary types are communism and socialism.\par (2 Words)
14.include producers, consumers, and government. Producers make or provide products, consumers purchase products, and government makes and enforces the country\rquote s laws.\par
15.A command economic system in which the government controls the economic system and does not allow private ownership of the means of production and distribution, little or no competition. (Cuba and North Korea)\par
Down
1.An economic system in which people produce only what they must have in order to exist; all economic decisions are based on habit and tradition passed down through the generations. Examples: Andes Mountain villages, Amazon Rainforest, Aborigines of Australia\par (2 Words)
4.Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid\par
5.An economic system in which the questions of what, how, and for whom goods will be produced are answered by individuals and businesses in the marketplace (U.S., Japan, and India)\par (2 Words)
6.Influencing or relying upon one another\par
7.The organized way in which a country handles its economic decisions and solves its economic problems\par (2 Words)
11.The people who make or provide goods and services\par

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