Relationships Between Different U.S. Economic Institutions


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question 1 of 3

Which of the following is the best definition of an 'economic institution'?

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1. Which of the following is the best definition of the IRS?

2. What is one way the Federal Reserve influences the operation of private banks?

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About This Quiz & Worksheet

If you want to test your understanding of the ways in which economic institutions in the United States interact with one another, you can go through this quiz and worksheet to answer questions that will assess you on the subject. Each question will serve as a starting point for specific topics you should know. Reviewing this assessment will help you better understand particular economic institutions and their relationships to each other.

Quiz & Worksheet Goals

By reviewing these questions, you can test yourself on:

  • The definition of an economic institution
  • Specific American economic institutions
  • The influence of the Federal Reserve
  • Examples of different banks

Skills Practiced

  • Information recall - see how well you remember the different economic institutions in the United States and their specific function in the economy
  • Defining key concepts - make sure that you know the definition of an economic institution, as well as specific economic institutions relevant to the subject
  • Making connections - use your knowledge of the subject to make the connections between different economic institutions and their influence on others

Additional Learning

Review this subject as a whole with the associated lesson called Relationships Between Different U.S. Economic Institutions. This lesson will help you learn about:

  • The definition and function of an economic institution
  • Economics institutions in the United States
  • Private banks
  • The Internal Revenue Service
  • The Federal Reserve
  • The stock market