Ch 64: MTTC Social Studies (Secondary): Measuring the Economy

About This Chapter

The short and engaging video lessons in this chapter can help you prepare for the MTTC Social Studies (Secondary) assessment. Refresh your knowledge on economic measurement and take lesson quizzes to assess your readiness to take the test.

MTTC Social Studies (Secondary): Measuring the Economy - Chapter Summary

You can strengthen your preparation for the MTTC Social Studies (Secondary) assessment by exploring this overview of the economy and how it is measured. Reviewing the lessons can ensure you have the knowledge to answer questions on the following:

  • The circular flow of economic activity
  • Components of gross domestic product
  • How gross domestic product is measured
  • Items that are not included in the GDP
  • How investments and investment differ in economics

This chapter provides you with a number of resources that can make your studying process more efficient. You can watch the video lessons in any sequence, and as often as you'd like, while skipping those you already fully comprehend. Clickable timelines are also available that allow you to jump to specific topics within each video.

5 Lessons in Chapter 64: MTTC Social Studies (Secondary): Measuring the Economy
Test your knowledge with a 30-question chapter practice test
Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

1. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.

Gross Domestic Product: Using the Income and Expenditure Approaches

2. Gross Domestic Product: Using the Income and Expenditure Approaches

In this lesson, you will learn how economists measure gross domestic product using two different methods - the income approach and the expenditure approach.

Gross Domestic Product: Definition and Components

3. Gross Domestic Product: Definition and Components

Learn how economists measure the total production of an economy using gross domestic product (GDP). This lesson also outlines the components that make up a GDP. How do we calculate the economic value of a nation?

Gross Domestic Product: Items Excluded from National Production

4. Gross Domestic Product: Items Excluded from National Production

In this lesson, you'll gain a better understanding of what the gross domestic product is by exploring things that are excluded from it. Why do we count some items in the GDP but not others?

Investment vs. Investments in Economics

5. Investment vs. Investments in Economics

Discover the important difference between investment in economics and investments that individuals make by saving out of their income. This lesson defines and outlines the basic components of gross private domestic investment.

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

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Other Chapters

Other chapters within the MTTC Social Studies (Secondary)(084): Practice & Study Guide course

Support