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Ch 48: Praxis Middle School Social Studies: Macroeconomics

About This Chapter

This chapter on macroeconomics is intended to be a part of your preparations for the Praxis Middle School Social Studies test. With engaging educational content like videos and short quizzes, you not only get a refresher of related topics but get to assess your knowledge as well.

Praxis Middle School Social Studies: Macroeconomics - Chapter Summary

Passing the Praxis Middle School Social Studies test is a pre-requisite for a middle school teacher. Our expert instructors have created this chapter to guide you through the macroeconomics part of the Economics section of the exam. This chapter will provide you with the definition and principles of macroeconomics and go over the four basic functions of money. Additionally, by the time you are finished with these lessons, you should be able to:

  • Define and measure the unemployment rate
  • Know the issues and factors that affect governmental intervention in the economy through things like taxation and regulation
  • Understand how consumer choice affects the economy
  • Know how to create a personal budget with appropriate tools and examples
  • Classify the types of interest rates and investments
  • Define the factors of production with suitable examples
  • Demonstrate how economic activity or goods, services and resources flow in a circular manner
  • Indicate the advantages, expansion and impact of the global economy

Through comprehensive coverage of the important parts of the large scope of the Praxis Middle School Social Studies exam, our instructors have created engaging videos and text that will prove to be of immense help to your success. The accompanying quizzes and transcripts will let you know exactly where your knowledge gaps are and help you address the issue. Further, you can jump to specific parts of the video lessons thanks to the video tags feature. You can also monitor your study progress from our Dashboard.

12 Lessons in Chapter 48: Praxis Middle School Social Studies: Macroeconomics
Test your knowledge with a 30-question chapter practice test
What is Macroeconomics? - Definition & Principles

1. What is Macroeconomics? - Definition & Principles

Macroeconomics is one of the major subdivisions in the study of economics. In this lesson, you'll learn what it is, why it's important and its major principles. You'll also have a chance to take a short quiz after the lesson.

Defining and Measuring the Unemployment Rate

2. Defining and Measuring the Unemployment Rate

You've probably heard about the unemployment rate, especially given how high it was in the 2008 recession. Find out how economists define unemployment, what the unemployment rate is, and how to calculate it in this lesson.

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.

Governmental Regulation & Deregulation of the Economy

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.

The Importance of Consumer Choice in Economics

6. The Importance of Consumer Choice in Economics

Nothing makes a business happier than when we buy something they sell - well, maybe when we buy two of what they sell! This lesson explains why smart companies and governments try to understand everything about you to sell you more.

How to Create a Personal Budget: Tools & Examples

7. How to Create a Personal Budget: Tools & Examples

Creating a personal budget doesn't have to be overwhelming or discouraging. There are four basic steps to create an effective budget. This lesson will walk you through the steps to create a solid budget.

Types of Interest Rates & Investments

8. Types of Interest Rates & Investments

Ever wonder how to make any sense out of all those investment options you constantly hear about? This lesson helps provide some understanding, as well as introduces the concept of the real interest rate.

Factors of Production: Definition & Examples

9. Factors of Production: Definition & Examples

There are four factors of production. The four factors are inputs needed to produce a product or provide a service. These factors include natural resources, human resources, capital, and entrepreneurship.

The Four Basic Functions of Money

10. The Four Basic Functions of Money

This lesson uses real-world examples to describe the four basic functions that money serves in an economy. These basic functions help to create the foundation of the money system.

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

11. 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.

The Global Economy: Advantages, Expansion & Impact

12. The Global Economy: Advantages, Expansion & Impact

This lesson will explain the concept of economic globalization. We will look at both its positive and negative effects while also highlighting the terms 'import,' 'export,' and 'capital flight.'

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 Praxis Middle School Social Studies (5089): Practice & Study Guide course

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