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Ch 51: FTCE Middle Grades Social Science: Economic Systems & Markets

About This Chapter

Getting ready for the FTCE Middle Grades Social Science exam doesn't have to be difficult thanks to this chapter. In it are useful details about economic systems and markets.

FTCE Middle Grades Social Science: Economic Systems & Markets - Chapter Summary

Our interactive lessons help you quickly and effectively review economic content. Some topics you will master for the test include:

  • Definition of an economy
  • Definition and types of economic systems
  • Characteristics and examples of a mixed economy
  • Market demand schedule and market supply schedule
  • The market equilibrium

Understanding different economic concepts is made simple thanks to the format of our lessons. After completing a lesson, be sure to take a quiz to see how much knowledge you acquired. This gives you an accurate idea of how well prepared you are for the test. If you struggle with an economic concept, reach out and get help from an online instructor.

6 Lessons in Chapter 51: FTCE Middle Grades Social Science: Economic Systems & Markets
Test your knowledge with a 30-question chapter practice test
What is Economy? - Definition & Types

1. What is Economy? - Definition & Types

We hear about the economy all the time, but what exactly is an economy? In this lesson, you'll learn about what an economy is and different types of economic systems.

Economic Systems: Definition, Types & Examples

2. Economic Systems: Definition, Types & Examples

In this lesson, you'll learn about the three major forms of economic systems, including planned, market, and mixed market economies. You'll also explore the five factors of production and the roles they play in the exchange of products or services.

What is a Mixed Economy? - Definition, Characteristics & Examples

3. What is a Mixed Economy? - Definition, Characteristics & Examples

Every country follows some kind of economic system. In this lesson, you will learn about a mixed economy. We will look at the characteristics of a mixed economy and explore a few examples.

Market Demand Schedule

4. Market Demand Schedule

Demand can often drive the cost up or down for a product or service. In this lesson, you'll discover what demand is, what it looks like, and how market demand schedules are created.

Market Supply Schedule

5. Market Supply Schedule

Supply and demand play big roles in the economy. In this lesson, you'll discover what supply is, how we describe it, and how market supply schedules are created.

How Changes in Supply and Demand Affect Market Equilibrium

6. How Changes in Supply and Demand Affect Market Equilibrium

Learn how the equilibrium of a market changes when supply and demand curves increase and decrease and how different shifts in the curves can affect price.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the FTCE Middle Grades Social Science 5-9 (038): Practice & Study Guide course

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