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Economics Vocabulary by Philip West

Across
Measures the amount of GDP that is available, on average, for each person. This is a better predictor of wealth for each person than GDP.
Determines price amount of goods available, how many consumers want the goods, and what they are willing to pay.
Centralized planning groups decide what and how goods and services are produced.
One who risks his or her own money, time, ideas, and energy to start and run a business.
Exchange (goods and services) for other goods r services without using money.
Money used in a particular country to provide goods and services.
Economy in which changes and price guide how goods and services will be produced, distributed, and consumed.
Workers of a business or country including education, training, skills, and health.
A tax on imports.
Ways of limiting trade by tariffs, quotas,and embargoes.
Goods which include factories, machines, technology, buildings, and property needed for a business to operate.
Down
Customs and habits decide what and how goods and services are produced, distributed, and consumed.
A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
In a centralized market economy, being told the government what and how much to produce;(2) a limit placed on the number of imports that may enter a country.
A government order stopping trade with another country to put pressure on the government of that other country.
Is the best alternative given up. It's the most valuable alternative that you don't choose when you make a decision.
Farmers focus on growing enough to feed themselves and their families. There is usually not enough left over to barter (trade) or sell.
An area where there are no tariffs among participating countries; for example, North America or the European union.
Economic level for the people in the country.
Limited supply of something
A decentralized market economy.