Ch 63: The Relationship between Politics & Economics

About This Chapter

This chapter is designed to help you further your understanding of the relationship between politics and economics. Watch the captivating video lessons to learn more about the economic functions of the government, the definition of a mixed economy, and more.

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.

6 Lessons in Chapter 63: The Relationship between Politics & Economics
Test your knowledge with a 30-question chapter practice test
What Are the Economic Functions of Government?

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.

How the Government Promotes Economic Interests

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.

How the Government Protects the U.S. Economy

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.

What is a Mixed Economy? - Definition, Characteristics & Examples

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.

Understanding the Challenge of Resource Allocation

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.

Land & Natural Resources: Scarcity & Allocation

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.

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.
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