About This Chapter
The U.S. Economic System - Chapter Summary
Short, fun and efficient video lessons explain the theoretical framework of the U.S. economy as well as the real-world processes of cyclical spending and saving. This chapter will define key terminology and also provide true-to-life examples of economic processes and practices from history and today. This chapter's lessons can help you:
- Explain the cyclical phases of the U.S. economy
- Define laissez-faire capitalism and explain how it influences the U.S. economy
- Put oligopolies and monopolies into historical context
- Demonstrate how saving and investing contributes to the U.S. economy
Use our brief, engaging videos and the self-check assessments that accompany each lesson to help you learn and master new material and also review what you already know. You can also take the exam at the end of the chapter to see what you can recall from all of the lessons you've viewed. Transcripts are attached to each lesson and offer an alternative way to view the material.
1. Laissez-faire Capitalism & the US Economy
You might think that the United States has an 'anything goes' economy, and in some respects, this laissez-faire approach is true. However, in other regards, the American economy has an attitude of anything but 'anything goes'.
2. The Cyclical Phases of the US Economy
Ever wish the economy would just stay still long enough for you to make some sense of it? As nice as that sounds, a stagnant economy is not a good thing. This lesson will explain why that is and examine the cyclical phases of the US economy.
3. Monopolies & Oligopolies in the US Economy
Think that Monopoly is all about houses and hotels? Think again. Monopolies and oligopolies are very real forces in American economic history. In fact, you've probably be surprised to hear that some are still around today.
4. How Saving & Investing Contribute to the US Economy
Ever wonder what happens to your money when you save it? Does it go sit in a bank vault, patiently waiting on you? What about investing? How do you determine a stock price? This lesson answers those questions.
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Other chapters within the Introduction to Macroeconomics: Help and Review course
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- Comparative Advantage, Specialization and Exchange: Help and Review
- Demand, Supply and Market Equilibrium: Help and Review
- Measuring the Economy: Help and Review
- Inflation Measurement and Adjustment: Help and Review
- Understanding Unemployment: Help and Review
- Aggregate Demand and Supply: Help and Review
- Macroeconomic Equilibrium: Help and Review
- Inflation and Unemployment: Help and Review
- Economic Growth and Productivity: Help and Review
- Money, Banking, and Financial Markets: Help and Review
- Central Bank and the Money Supply: Help and Review
- Fiscal and Monetary Policies: Help and Review
- Foreign Exchange and the Balance of Payments: Help and Review
- Inflows, Outflows, and Restrictions: Help and Review
- Government & the Economy: Help and Review