About This Chapter
Politics and Economics - Chapter Summary
Lessons in this chapter explore government and economics, including how the government protects the U.S. economy, the economics of national security policy, and governmental regulation and deregulation of the economy. Consumer protection, fiscal policy, and monetary policy are also discussed. Additionally, by the end of this chapter, you should be familiar with:
- The Federal Reserve System
- The equality and efficiency trade-off in mixed economies
- Understanding the challenge of resource allocation
- Economics, natural capital and the environment
- Land and natural resources
Short, engaging video and text lessons thoroughly explain each subject, and corresponding self-assessment quizzes ensure your full understanding and retention of the material. Knowledgeable instructors are available to answer any questions you may have. Visit your dashboard to track your progress through the course.
1. What Are the Economic Functions of Government?
Find out what the six economic functions of government are in the United States. See some examples in each of the categories and find out how you benefit from them.
2. How the Government Promotes Economic Interests
The following lesson will cover how the government promotes its economic interests through businesses, labor, and agriculture. There will be a short quiz following the lesson to check your understanding.
3. How the Government Protects the U.S. Economy
The following lesson will cover the ways in which the government protects the U.S. economy and ensures stable economic growth. A short quiz will follow the lesson to check for your understanding.
4. The Economics of National Security Policy
The national security interest of the United States is broad, complex and involves far more than mere military security. In this lesson, you'll learn how economics fits into the overall national security policy of the United States.
5. 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.
6. What Is Consumer Protection? - Product Liability, Laws & Rights
Consumer protection refers to the laws and other forms of government regulation designed to protect consumers. One form of consumer protection is product liability. This lesson explains consumer protection and product liability.
7. What is Fiscal Policy?
The following lesson will cover how the U.S. government uses fiscal policy to affect the economy. A short quiz will follow the lesson to check your understanding.
8. Monetary Policy & The Federal Reserve System
This lesson covers the Federal Reserve System's use of monetary policy to help promote the economy. A short quiz will follow the lesson to check your understanding.
9. Understanding the Challenge of Resource Allocation
By now, you've probably figured out that all resources are scarce. But how do we allocate resources to make the most of that scarcity? This lesson explains how economists allocate resources, as well as three of the major philosophies influencing such choices.
10. Economics, Natural Capital & the Environment
Natural capital is the resources and services derived from nature that are of value to people. Learn why protecting natural capital is important for sustainable growth and economic development.
11. Land & Natural Resources: Scarcity & Allocation
This lesson explores the importance of two very unique resources to economic development: land and natural resources. It explains how land can last forever, while some natural resources can run out. That said, both require expert management.
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Other chapters within the CSET Social Science Subtest III (116): Practice & Study Guide course
- About the CSET Social Science Test
- Early Influences on American Government
- Constitutional Democracy in the United States
- Overview of American Law
- Principles of American Democracy
- Religion and Religious Diversity
- Principles of Civil Society
- The Three Branches of Government
- Supreme Court Cases
- Election Process
- Levels of Government in the U.S.
- Mass Media in the United States
- Political Systems
- Tension in American Democracy
- Economic Terms and Concepts
- American Market Economy
- U.S. Labor Unions
- U.S. Labor Market
- Aggregate Economic Behavior
- Factors in International Trade
- California History
- Sources of Information in Social Science
- Historical Interpretations
- Social Science Research
- Social Science Perspectives
- CSET Social Science Subtest 3 Flashcards