Ch 59: CLEP Social Sciences and History: Measuring the Economy

About This Chapter

Learn about ways of measuring the economy, including a look at the ideas of Adam Smith and an overview of circular flow of economic activity. Use these lessons to prepare for these types of questions on the CLEP Social Sciences and History test.

CLEP Social Studies and History: Measuring the Economy - Chapter Summary

These video lessons and self-assessment quizzes will help you prepare for questions on economic measurements when you take the CLEP Social Studies and History exam. After watching these lessons, you should be able to:

  • Explain the circular flow of goods, services and resources
  • Discuss the ideas in Adam Smith's The Wealth of Nations
  • Define the Gross Domestic Product (GDP)
  • Differentiate between investment and investments in economics

Our expert instructors make learning enjoyable as they guide you through these lessons and quizzes on measuring the economy. You can even contact them if you need extra help.

Objectives of the CLEP Social Studies and History: Measuring the Economy Chapter

The CLEP exam is used to gauge if a candidate's knowledge of a subject is sufficient to grant college credit in lieu of taking the course. Questions on measuring the economy are in the economics section of the CLEP Social Studies and History test. The questions on economics comprise 10% of the 120 questions on the exam. The quizzes at the end of our lessons can help you prepare for answering questions in a similar format to the exam itself.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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Other Chapters

Other chapters within the CLEP Social Sciences and History: Study Guide & Test Prep course