About This Chapter
Georgia Milestones: Economic Interdependency- Chapter Summary
The Georgia Milestones Economics/ Business/ Free Enterprise EOC exam will include questions covering topics related to economic interdependency. Prepare for these questions by going through the lessons you will find in this chapter. The lessons will teach you about topics such as:
- The circular flow model in economics
- The definition and examples of economic efficiency
- The function and characteristics of money
- Money as a medium of exchange
Each lesson is taught by an experienced instructor who will teach you everything you need to know about these topics. The chapter also includes practice quiz questions that will assess your knowledge of some of the points you went over in the lessons.
1. Circular Flow Model in Economics: Definition & Examples
The circular flow model in economics is critical for thriving societies. In this lesson, we will learn about this simplified view of how our economy moves and what causes this continual movement.
2. Economic Efficiency: Definition & Examples
In this lesson, we will learn what economic efficiency means. We will then look at some factors that help define this type of economy. Lastly, we will use some examples to better understand economic efficiency.
3. The Functions and Characteristics of Money
Money makes the world go around. In this lesson, we will learn more about money. We will break it down into its separate functions and look closer at its many characteristics.
4. Money as a Medium of Exchange: Definition, Function & Examples
Money serves several different functions in a modern economy. In this lesson, you'll learn that money is a medium of exchange and discover how it works in our economy. You'll also have a chance to take a short quiz after the lesson.
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Other chapters within the Georgia Milestones - Economics/Business/Free Enterprise EOC: Test Prep & Practice course
- Georgia Milestones: Introduction to Economics
- Georgia Milestones: Scarcity, Choice & the Production Possibilities Curve
- Georgia Milestones: Consumer Behavior & Microeconomics
- Georgia Milestones: Supply & Demand
- Georgia Milestones: Economic Price & Income Elasticity
- Georgia Milestones: Types of Economic Systems
- Georgia Milestones: Government's Role in Economic Systems
- Georgia Milestones: Market Structures in the US Economy
- Georgia Milestones: Business Organizations
- Georgia Milestones: Making Business Decisions
- Georgia Milestones: Understanding Production in Microeconomics
- Georgia Milestones: Comparative vs. Absolute Advantage
- Georgia Milestones: Macroeconomic Equilibrium
- Georgia Milestones: Scarce Economic Resource Markets
- Georgia Milestones: Measuring Economic Activity
- Georgia Milestones: Economic Growth & Productivity
- Georgia Milestones: Inflation Measurement & Adjustment
- Georgia Milestones: Understanding Unemployment
- Georgia Milestones: Aggregate Supply & Demand
- Georgia Milestones: Fiscal & Monetary Policies
- Georgia Milestones: Expansionary & Contractionary Policies
- Georgia Milestones: Money, Banking & Financial Markets
- Georgia Milestones: Central Bank & the Money Supply
- Georgia Milestones: Foreign Exchange & the Balance of Payments
- Georgia Milestones: Trade Barriers & Regulations
- Georgia Milestones: Consumer Decision Making
- Georgia Milestones: Savings & Investments
- Georgia Milestones: Credit & Interest Rates
- Georgia Milestones: Insurance
- Georgia Milestones: Taxation
- Georgia Milestones - Economics/Business/Free Enterprise EOC Flashcards