About This Chapter
The Relationship Between Politics & Economics - Chapter Summary
These professionally designed text and video lessons explain the connections between economics and politics in an easy-to-follow way. The lessons review the government's role in promoting economic interests, how the government protects the U.S. economy, and the allocation of natural resources, among other topics. By the end of this chapter, you should also be able to:
- List the economic functions of government
- Explain how the government protects and promotes the U.S. economy
- Summarize the characteristics of a mixed economy
- Demonstrate an understanding resource allocation
- Compare land and natural resources scarcity and allocation
Take advantage of the brief video lessons to simplify your studies. Included in this chapter are practice quizzes, transcripts of video lessons, and flashcards that can aid in your learning process. In case you need to come back to a section, use the video labels in the Timeline to get to that data quickly. If you need help understanding any information presented in this chapter, be sure to send your questions to our experts.
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. What is a Mixed Economy? - Definition, Characteristics & Examples
Every country follows some kind of economic system. In this lesson, you will learn about a mixed economy. We will look at the characteristics of a mixed economy and explore a few examples.
5. 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.
6. 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: Study Guide & Prep course
- About the CSET Social Science Test
- Prehistory & Early Civilizations
- Ancient Near East History
- Early Empires in the Near East & Asia
- Political & Philosophical Thought in Ancient Asia
- History of Ancient Greece & Hellenism
- The Roman Republic Rises
- History of the Fall of Rome
- Understanding the Dark Ages
- Understanding the Early Middle Ages
- Medieval Warm Period Overview
- High Middle Ages Overview
- Late Middle Ages Overview
- The Renaissance Overview
- The Age of Exploration & Discovery
- Overview of the Reformation Across Europe
- The Elizabethan Era Overview
- Overview of Colonialism
- Absolutism & Constitutionalism in Europe
- Shifting Eastern European Power (1648-1740)
- 18th Century Empire & Expansion
- The Age of Enlightenment
- The French Revolution & Napoleon Bonaparte
- Industrialization from 1700-1900
- Global Politics (1760-1848)
- Nationalism in Europe, Africa, Asia & the Americas
- Life & Trends in Europe (1850-1914)
- 19th and 20th Century Imperialism
- The World Post-WWI
- Overview of World War II
- Western Civilization Post-WWII
- Early Civilizations in the Americas & Colonization
- Settling North America & the Colonies
- Understanding the American Revolution
- The Making of a Nation after the American Revolution
- The Virginia Dynasty
- Jacksonian Democracy
- Everyday Life in Antebellum America
- Manifest Destiny & American Expansion
- America's Civil War
- After the Civil War: Reconstruction
- Westward Expansion, Industrialization & Urbanization (1870-1900)
- The Progressive Era of the Early 20th Century
- Overview of American Imperialism & World War I
- 1920s America
- Overview of the Great Depression
- World Events & Politics After World War II (1946-1959)
- Events & Presidents During the Cold War (1950-1973)
- Civil Rights & Other Movements in the US (1954-1973)
- Presidential Domestic Policy 1970-Present
- Overview of California History
- Principles & Concepts of American Democracy
- Fundamental Values & Principles of Civil Society
- Branches of Government in the U.S.
- U.S. Supreme Court Landmark Cases
- The U.S. Election Process
- Levels of Government in the United States
- Media Influence in the U.S.
- Comparing Political Systems
- Tension in U.S. Democracy
- Basic Terms & Concepts in Economics
- American Market Economy
- U.S. Labor Markets in a Global Setting
- Aggregate Economic Behavior of the American Economy
- International Trade & the Economy
- Tools & Perspectives of Geographic Study
- Geographic Diversity of Natural Landscapes & Human Societies
- Culture & the Physical Environment
- Environmental Science Basics
- Effects of Humans on the Environment
- CSET Social Science Flashcards