Domain Vocabulary: Chapters 4-8

An economic system in which resources and businesses are privately owned and prices are not controlled by the government.

• Mercantilism

• Socialism

• Industrialism

• Capitalism

The rights that all citizens are supposed to have

• Laissez-Faire

• Politics

• Civil Rights

• Commerce

A temporary work stoppage organized by workers as a protest

• Strike

• Slum Plague

• Dues

• Luddite

Money paid to an organization to become a member of the organization.

• raw material

• import

• barge

• dues

An economic system that aims to increase a country's wealth and power by controlling trade and people

• Capitalism

• Mercantilism

• Socialism

• Industrialism

The study of the management of money and resources to produce , buy, and sell goods and services

• Capitalist

• Economics

• Laissez-Faire

• Commerce

The breakdown of work into specific tasks performed by different people

• debtors' prison

• Migration

• Export

• Division of Labor

The buying and selling of goods and services; trade

• Import

• Export

• Commerce

• Industrialism

A philosophy that calls for very little or no government involvement in the economy.

• Economics

• Capitalist

• Laissez-Faire

• Luddite

The head of the government in some countries

• Politics

• Luddite

• Prime Minister

• Capitalist