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A period when the economy is in a downward slump with high unemployment

A combination of independent commercial enterprises designed to limit competition

Relationship between various possible prices of a product and the quantities of the product that consumers are willing to purchase

French economists who formulated the concept of Laissez faire in the mid 18th century

a single business that controls the production of a good or service and sets prices higher than they should be

Term which describes social program that everyone in society receives regardless of wealth

Term which describes the kings in the 17th century who centralized political power in themselves

The stage of Marxism where the workers would seize control of the means of productions

Philosopher who believed that if not for an all-powerful government humans would be in a constant in warfare

The title of Adam smith's book of 1776

A system of taxation which had as its goal the achievement of greater social equality

Marx's name for the working class people who sell their labour

The right of all members of society to fully participate politically with the right to vote

When workers in different sectors of the economy organize to stop working at the same time

What one factor causes the economic cycle of boom and bust

Name the man whose theory was called the Iron Law of Wages

The protectionist economic system in Europe in the 17th and 18th centuries

A place where goods and services are exchanged for money

A tax on imported goods levied as a percentage of their value

This is what develops when the available supply of resources is unable to meet the demands for them

The political term for any ideology that supports a return to a previous state of affairs

Who was given the right to vote in Canada in 1918?

A good such as a machine, building, or truck that is used to produce other goods

Adam Smith's name for the economic forces that we call supply and demand

Term describing the Global electronic media leading to a trend towards an identity shared by all

Marx's term for the idea that economic classes were the opposing forces that compete for control

Consumer demand for a good determines what is produced

Actions taken by the central bank to control the supply of money by raising or lowering interest rates

A rivalry between companies for customers aids in providing the best possible price for a good

The Marxist term for those holding a commanding position of economic power in a capitalist society

Name the acts in Britain that gradually improved the working conditions in factories, decreased working hours, and regulated the working age

The term for government-owned bodies such as the CBC, CNR, Post Office, etc in Canada.

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

The union term for negotiating as a group

Any ideology that believes that resources should be controlled by the public for the benefit of everyone

The government spending more money that it has coming in as income

System created after the fall of the Rome where people were provided security in exchange for service to their lord

The recurring pattern of expansion and contraction of the economy common to capitalism

with whom did Karl Marx collaborate to write The communist Manifesto>

Rousseau's term used to describe a form of constitution between government and the people

Marx's term for the process of change where an antithesis builds against the thesis leading to synthesis

Name the protest movement of the early 1800's against industrialization where protesters broke into factories and destroyed machines

political control exerted by one group over others

a management tactic by which workers are kept from their workplace during a labour disruption

The creation of what British political party can be attributed to the moderate socialists in 1884 London?

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?