About This Chapter
Relationship Between Economics, Government & Politics - Chapter Summary
This chapter is designed to help you review information about types of government, capitalism and how the government affects the economy. You will also discover how powers are separated in the government and what the checks and balance system is. Specific lesson topics related to economics, government and politics include:
- The different types of government
- The three branches present in the federal government
- Relationship between the branches through the checks and balances system
- How consumers affect the market
- The significance of capitalism
- Relationship between supply and demand
- Availability of resources
- Consumer and property rights
- How the government affects the economy
- Basics of the tax system
- Recessionary and inflationary economies
- How authority is distributed in a government
Did you know the lessons in this chapter are mobile friendly? Whether you study at home with your computer or in public with your tablet, you have the flexibility to learn whenever or wherever you want. The lessons are also taught by experienced instructors, so you can rest assured that the information you study will contribute to your goals.
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.
2. The 3 Branches of Government: Executive, Legislative, Judicial
In 1787, leaders from each of the states gathered to write the United States Constitution. The Constitution sets out how our nation is governed and creates a system that separates powers between different branches. This lesson explores the three branches of our federal government.
3. System of Checks & Balances: Purpose, Importance & Examples
This lesson will cover the system of checks and balances that exist among the three branches of the federal government. A short quiz will follow the lesson to check for understanding.
4. Roles of Consumers & Producers in a Resource Market
When you go to the store, you are a consumer. However, did you know that chances are you've been a producer as well? This lesson explains how roles are reversed in resource markets.
5. Capitalism and the Free Market: Definition & Limitations
Capitalism is an economic system that has played a dominant part in building the world in which we currently live. In this lesson, you'll learn about some key concepts of capitalism, as well as its limitations.
6. Using Market Forces to Manipulate Supply and Demand
While the forces of supply and demand are powerful, they are not immobile. This lesson explains how various market forces can cause the supply and demand curves to shift.
7. Microeconomic Resources: Scarcity & Utility
For economics to work, we must assume that resources are scarce and that people will work to secure the greatest utility possible. This lesson explains both scarcity and utility and what they mean for people everywhere.
8. 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.
9. 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.
10. 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.
11. 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.
12. Separation of Powers: Definition & Examples
Separation of powers is the distribution of political authority within a government. Learn more about how separation of power works in the United States, then check your understanding of this topic with a quiz.
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