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Ch 62: MTTC Social Studies (Secondary): Free Market Economics

About This Chapter

Prepare for questions you may see on the MTTC Social Studies (Secondary) test by refreshing your memory of free market economics. You can verify your familiarity with the material by completing practice quizzes throughout the chapter.

MTTC Social Studies (Secondary): Free Market Economics - Chapter Summary

Supply and demand are key components in the Free Market Economics chapter's engaging video lessons. Watch these videos to make sure you have a solid understanding of the following topics ,in case you're asked about them on the MTTC Social Studies (Secondary) test:

  • Market supply and demand schedules
  • The law of downward sloping demand curve
  • Upwards-sloping supply curves
  • Finding market equilibrium
  • Factors that cause shifts in supply and demand curves

View the chapter's efficient video lessons using a tablet, smartphone or computer. You can complete each video in five to ten minutes and easily rewatch any part by using the video tags.

MTTC Social Studies (Secondary): Free Market Economics Chapter Objectives

The MTTC Social Studies (Secondary) test evaluates your suitability for earning a subject-specific teaching license. Questions relating to the topics in this Free Market Economics chapter are part of the economics subarea, which accounts for about 13% of your score. The entire test consists of 100 multiple-choice questions.

6 Lessons in Chapter 62: MTTC Social Studies (Secondary): Free Market Economics
Test your knowledge with a 30-question chapter practice test
Market Demand Schedule

1. 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

2. 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.

The Law of the Downward Sloping Demand Curve

3. The Law of the Downward Sloping Demand Curve

Discover the relationship between the quantity demanded and price of a good or service in a market. This lesson explains why the demand curve is downward sloping and what factors will lead to a shift in demand.

The Upward-Sloping Supply Curve

4. The Upward-Sloping Supply Curve

Discover the relationship between the quantity of a good or service that is produced and its price. This lesson explains the supply side of a market, including the factors that lead to a shift in supply.

How to Calculate Market Equilibrium

5. How to Calculate Market Equilibrium

Supply and demand is an important part of macroeconomics. In this lesson, you'll learn how to calculate the equilibrium price and quantity in a market at the intersection of the supply and demand curves.

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 MTTC Social Studies (Secondary)(084): Practice & Study Guide course

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