A 9 minute introduction to the difference between command economies and market economies. This video will aid in the mastery of standard EPF. 1(e)

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Read about the changes in the American economy between 1820 and 1860 that resulted in a market economy encouraged by technological advances in manufacturing.

This is a full unit of study from iCivics, featuring multiple lesson plans with presentations, downloadable documents, and more. In this unit, students learn about the relationship between the government and the economy. Starting with the basics of the market economy, students learn about government regulations on our market economy, where the government gets its money and what the government spends it on, and how banks and lending influence our economic system. Each lesson is a basic overview of a very broad topic and includes activities designed to show students how these topics impact their own lives.

A look at how the government affects the markets and influences business in ways that often have unexpected consequences.

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage

By the end of this section, you will be able to:

Explain how inflation can cause redistributions of purchasing power
Identify ways inflation can blur the perception of supply and demand
Explain the economic benefits and challenges of inflation

By the end of this section, you will be able to:

Explain frictional and structural unemployment
Assess relationships between the natural rate of employment and potential real GDP, productivity, and public policy
Identify recent patterns in the natural rate of employment
Propose ways to combat unemployment

By the end of this section, you will be able to:

Contrast traditional economies, command economies, and market economies
Explain gross domestic product (GDP)
Assess the importance and effects of globalization

A secondary account from a contemporary historian that examines early nineteenth century forces and the interplay of markets and territorial expansion.

In reading and discussing Lyddie, by Katherine Paterson, students examine basic economic concepts and explore the growth of labor unions and the role of government in a market economy.