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Ch 45: OAE Middle Grades Social Studies: Economics

About This Chapter

Economics is responsible for the movement of money throughout a society. This portion of the OAE Middle Grades Social Studies course gives you a broad overview of economics and the concepts that will appear on the exam.

OAE Middle Grades Social Studies: Economics - Chapter Summary

The foundation of any government's income and cash flow can be studied on the economic level. This collection of video lessons for the OAE Middle Grades Social Studies Study.com course gives you a look at economics topics that you should be studying as a way to get prepared for the upcoming Ohio certification exam. The topics in this chapter will include the following:

  • Product and cost curves
  • Examples of opportunity cost
  • Understanding supply and demand
  • Distribution of wealth
  • Causes and effects of unemployment
  • Types of inflation
  • Definition of deflation
  • Recession vs. depression

These video lessons all feature timelines that make you the director of the episode and let you pick where you want to start and finish each one. In addition, you are free to begin these lessons at home or on the go, as the Study.com courses are optimized to be viewed on all of your mobile devices.

8 Lessons in Chapter 45: OAE Middle Grades Social Studies: Economics
Test your knowledge with a 30-question chapter practice test
Product & Cost Curves: Definitions & Use in Production Possibility Curves

1. Product & Cost Curves: Definitions & Use in Production Possibility Curves

Ever heard of having too many cooks in the kitchen? Product and cost curves demonstrate the real economics behind having too much help, too many gadgets, and not enough money to go around.

Opportunity Cost: Definition, Calculations & Examples

2. Opportunity Cost: Definition, Calculations & Examples

This lesson discusses opportunity costs, a central idea of economics. In addition to examining the general idea of opportunity costs, it also looks at the role of explicit and implicit costs to firms.

Understanding Aggregate Supply & Demand

3. Understanding Aggregate Supply & Demand

In this lesson, we explore aggregate supply and aggregate demand. In addition, we discover how economists represent these terms on a graph, using the AS/AD model.

What is Wealth? - Definition, Sources & Distribution

4. What is Wealth? - Definition, Sources & Distribution

Wealth - most of us want it, but what exactly is it? In this lesson, you'll learn what wealth is from an economic perspective and learn how it is measured. You'll also have a chance to take a short quiz to reinforce your knowledge.

What is Unemployment? - Definition, Causes & Effects

5. What is Unemployment? - Definition, Causes & Effects

What is unemployment? If you are currently out of work, you certainly know what this is. But the government has a specific way of looking at unemployment, and you might actually not be considered unemployed by its definition! Read on to learn why.

Inflation: Definition, Types, Causes & Effects

6. Inflation: Definition, Types, Causes & Effects

In this lesson we will take a look at inflation and its importance. We will discuss the types and causes of inflation, as well as look at the effects of inflation.

What is Deflation? - Definition, Causes & Effects

7. What is Deflation? - Definition, Causes & Effects

You may not realize it, but prices sometimes go down, and that's not always a good thing. In this lesson, you'll learn what deflation is, its causes, and its effects. A short quiz follows the lesson.

Recession vs. Depression: Definitions and Differentiation

8. Recession vs. Depression: Definitions and Differentiation

Discover the real differences between recession and depression, including how economists actually define the two terms and when they have happened in the past.

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 Ohio Assessments for Educators - Middle Grades Social Studies (031): Practice & Study Guide course

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