Economy Vocabulary Crossword Puzzle

QUESTIONS LIST:

• trade barrier : a government policy or restriction that limits international trade
• supply : the amount of good or service that is available to use
• inflation : general increase in prices
• demand : the desire for a certain good or service
• traditional : an economy in which people make economic decisions based on their customs and habits
• infant death rate : the number of infant deaths for every 1,000 live births
• recession : a decline in economic growth for six or more months in a row
• command : an economy in which the central government makes all economic decisions, communism is a form
• gdp : the total value of all goods and services produced in a place during a specific time period.
• economics : the study of how people meet their wants and needs
• developed nation : a country with lots of economic activity, higher gdp per capita, and higher standards of living.
• producers : people or business that make and sell products
• market : an economy in which individual consumers and producers make economic decisions. this is also called capitalism or free market
• life expectancy : the average number of years someone is expected to live.
• consumers : people or businesses that buy products
• imports : goods and services produced in a country that are sold in other countries
• revenue : the money earned by selling goods and services
• free trade : removal of trade barriers
• trade : exchange of goods and services in a market
• profit : the money a company has left after subtracting the costs of doing businesses
• gdp per capita : the value of goods produced per person in a country; it is used to estimate standard of living
• developing country : a country with less economic activity, lower incomes, and lower standards of living
• exports : goods and services sold in a country that are produced in other countries
• mixed : an economy that combines elements of traditional, market, and command economic systems
• tariff : a tax on imports or exports