Ch 38: Overview of Legislation, Government & Economics

About This Chapter

This chapter on legislation, government, and economics is designed to refresh your understanding of traditional types of government, the role of government in a market economy, and more. Each lesson is presented in a brief five-minute animated video format.

Overview of Legislation, Government & Economics - Chapter Summary

In these video lessons, an instructor takes you through a broad overview of government, legislation, and economics. Additional topics presented for you to review include the principles of taxation, control of supply, and regulation of the economy. At the end of the chapter, you should be able to:

  • Define and describe traditional types of government, including strengths and weaknesses
  • Explain the role of government in a market economy
  • Identify issues related to government intervention in the economy
  • Reiterate the principles and systems of taxation
  • Describe fiscal policy tools
  • Summarize the concept of controlling supply
  • Restate governmental regulation and deregulation of the economy

Video lessons allow you to see the information as instructors explain these legislation, government, and economics topics. The printable transcripts provide you with notes for offline study, and the bold keywords can be used for making your own flashcards. Lastly, you can practice answering multiple-choice questions with our chapter exam.

7 Lessons in Chapter 38: Overview of Legislation, Government & Economics
Test your knowledge with a 30-question chapter practice test
Traditional Types of Government: Definitions, Strengths & Weaknesses

1. Traditional Types of Government: Definitions, Strengths & Weaknesses

In this lesson, we will explore several traditional types of government. We will define each type and take a close look at its strengths and weaknesses.

The Role of Government in a Market Economy

2. The Role of Government in a Market Economy

In this lesson, you'll examine the role of government in a market economy. You'll learn what kinds of activities may require government interaction, such as those related to consumer and property rights.

Government Intervention in the Economy: Issues & Factors

3. Government Intervention in the Economy: Issues & Factors

In this lesson, you'll consider the question of when it's worthwhile for the government to take action related to the economy. We'll use concrete examples to help you understand these hotly debated issues.

Principles and Systems of Taxation

4. Principles and Systems of Taxation

In this lesson, you'll gain a better understanding of how our tax system works. Look into the different levels of taxation from the federal government to state and local governments.

Fiscal Policy Tools: Government Spending and Taxes

5. Fiscal Policy Tools: Government Spending and Taxes

Discover the three main tools the government uses to address recessionary and inflationary economies - what economists call fiscal policy. Find out how these tools are used to help the economy in different situations.

Controlling Supply: Government Intervention & Market Forces

6. Controlling Supply: Government Intervention & Market Forces

Sometimes, despite the best efforts of the market, a heavy hand is needed to control supply. This lesson looks at how the government and the market can work to do just that.

Governmental Regulation & Deregulation of the Economy

7. Governmental Regulation & Deregulation of the Economy

Government regulations affect all aspects of the economy. However, some sectors are subject to specific regulations due to their importance. This lesson explores the purposes and methods of economic regulation and deregulation.

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

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