ch 1-4

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  1. A period when the economy is in a downward slump with high unemployment
  2. A combination of independent commercial enterprises designed to limit competition
  3. Relationship between various possible prices of a product and the quantities of the product that consumers are willing to purchase
  4. French economists who formulated the concept of Laissez faire in the mid 18th century
  5. a single business that controls the production of a good or service and sets prices higher than they should be
  6. Term which describes social program that everyone in society receives regardless of wealth
  7. Term which describes the kings in the 17th century who centralized political power in themselves
  8. The stage of Marxism where the workers would seize control of the means of productions
    Dictatorship of the Proletariat
  9. Philosopher who believed that if not for an all-powerful government humans would be in a constant in warfare
  10. The title of Adam smith's book of 1776
    The Wealth of Nations
  11. A system of taxation which had as its goal the achievement of greater social equality
  12. Marx's name for the working class people who sell their labour
  13. The right of all members of society to fully participate politically with the right to vote
    Universal suffrage
  14. When workers in different sectors of the economy organize to stop working at the same time
    General Strike
  15. What one factor causes the economic cycle of boom and bust
    Consumer demand
  16. Name the man whose theory was called the Iron Law of Wages
  17. The protectionist economic system in Europe in the 17th and 18th centuries
  18. A place where goods and services are exchanged for money
  19. A tax on imported goods levied as a percentage of their value
  20. This is what develops when the available supply of resources is unable to meet the demands for them
  21. The political term for any ideology that supports a return to a previous state of affairs
  22. Who was given the right to vote in Canada in 1918?
  23. A good such as a machine, building, or truck that is used to produce other goods
    Capital good
  24. Adam Smith's name for the economic forces that we call supply and demand
    invisible hand
  25. Term describing the Global electronic media leading to a trend towards an identity shared by all
    global village
  26. Marx's term for the idea that economic classes were the opposing forces that compete for control
    economic determinism
  27. Consumer demand for a good determines what is produced
    consumer sovereignty
  28. Actions taken by the central bank to control the supply of money by raising or lowering interest rates
    Monetary policy
  29. A rivalry between companies for customers aids in providing the best possible price for a good
  30. The Marxist term for those holding a commanding position of economic power in a capitalist society
  31. Name the acts in Britain that gradually improved the working conditions in factories, decreased working hours, and regulated the working age
    factory acts
  32. The term for government-owned bodies such as the CBC, CNR, Post Office, etc in Canada.
    Crown Corporations
  33. Refers to the direct taxing and spending functions of governments who can raise or lower taxes and raise of lower their spending on projects and programs
    fiscal policy
  34. The union term for negotiating as a group
    collective bargaining
  35. Any ideology that believes that resources should be controlled by the public for the benefit of everyone
  36. The government spending more money that it has coming in as income
    Deficit Spending
  37. System created after the fall of the Rome where people were provided security in exchange for service to their lord
    feudal system
  38. The recurring pattern of expansion and contraction of the economy common to capitalism
    Boom and bust
  39. with whom did Karl Marx collaborate to write The communist Manifesto>
  40. Rousseau's term used to describe a form of constitution between government and the people
    social contract
  41. Marx's term for the process of change where an antithesis builds against the thesis leading to synthesis
  42. Name the protest movement of the early 1800's against industrialization where protesters broke into factories and destroyed machines
  43. political control exerted by one group over others
  44. a management tactic by which workers are kept from their workplace during a labour disruption
  45. The creation of what British political party can be attributed to the moderate socialists in 1884 London?
  46. John Stuart Mill said that an individual should be able to act as he or she wants so long as his or her actions did not do what to others?
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ch 1-4
crossword ch 1-4
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