1. MSL Vocabulary Words

2. Definition in your own words Laissez faire is the belief that economies and businesses function best when there is no interference by the government Facts /characteristics Supporters of laissez-faire capitalism do not want the government to interfere in business matters. National governments regulate business to some degree. Laissez faire, a doctrine of political economy that carried the United States from an agrarian to an industrial society. Examples: Under laissez-faire, workers have the same rights as everyone else: to life, liberty and property. (2) An economy based on capitalism. (3) Society benefits if its members are free to pursue their separate self-interests Laissez-Faire is related to people who do not get involved in other people’ activities or behavior. Laissez Faire is related to people having economic freedom and the ability to compete with other businesses. Laissez – Faire

3. A state or country without authority, government, or law. Facts/Characteristics: Refers to disorder and confusion. The word "State" means “Government.“ A utopian society of individuals who enjoy complete freedom without government Examples of Anarchy: French Revolution during the Reign of Terror. Anarchy during Russian Civil War, there was a collapse of government. Anarchy is related to a state with no morals or law. People are individual and on their own. Refers tp Anarchy

4. Government ruled by a religious authority. Facts/Characteristics: (1) A form of government in which God or a deity is recognized as the supreme ruler. Theocracy

5. Definition in your own words: Oligarchy

6. Who was Montesquieu?Montesquieu ideas/beliefs See link watch video https://www.youtube.com/watch?v=x8QaGc- vpcU Three forms of Government/Explain Montesquieu’s view

7. Definition in your own words- socialism is common ownership. Resources of the world being owned in common by the entire global population. Facts/Characteristics: Common ownership - everybody having the right to participate in decisions on how global resources will be used. Example of socialism are __. See link: http://examples.yourdictionary.com/examples- of-socialism.html Socialism is relate to __ Socialism

8. Definition in your own words Facts / Characteristics Examples of mutiny are __Mutiny is related to __ Mutiny

9. Definition in your own words Facts/Characteristics Examples of push factors are __ Push Factors are related to __ Push Factors

10. Definition in your own words Facts/Characteristics Examples of Pull factors are __ Pull factors is related to __ Pull Factors

11. An economic system is a system of producing and exchanging goods and services and allocating resources in a society. (1) A way a state or nation allocates resources and apportions goods and services in a community. (2) Traditional economic system is a type of economic system. (3) Economic is related to Capitalism in which individuals can own their own business and make profit. Economic System

12. This is an agreement between Canada, Mexico, and the United States, creating a trilateral rules-based trade bloc in North America. (1) NAFTA came into affect in 1994. (2) NAFTA became one of the world’s largest free trade zones. (3) started a foundations for strong economic growth. (4) Caused rising prosperity for Canada, the United States, and Mexico. Examples of NAFTA areNAFTA is related to __ North American Free Trade Agreement (NAFTA)

13. Organization of the Petroleum Exporting Countries /OPEC