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Economy Basics
Consumer Impact
Government Policies
Global Trade Challenges
250

What is an economy?

  • An economy is a system that includes the production, distribution, and consumption of goods and services.


250

How do consumer choices impact the economy?

  • Consumer choices shape the market by influencing demand for goods and services.
250

What are antitrust laws and why are they important?

Antitrust laws prevent monopolies and promote competition, ensuring fair market practices.

250

What challenges can global trade present to specific industries?

  • Global trade can result in job displacement as companies seek cheaper labor markets abroad.
500

What are the main components of an economy?

  • The main components include production, distribution, consumption, and markets.
500

How do families' financial decisions affect the broader economy?

  • Families' decisions on spending, saving, and investing affect the economy by altering demand.
500

Describe the purpose of fiscal and monetary policies.

Fiscal and monetary policies manage economic growth, control inflation, and reduce unemployment.

500

How does understanding economic principles empower students in their financial decisions?

  • Understanding economic principles helps students make informed financial decisions.
750

Describe the capitalist framework of the American economy.

  • The American economy operates under a capitalist framework characterized by private ownership and the free market.
750

Give an example of how supply and demand can influence the price of a product.

  • During a shortage of a popular video game console, high demand and low supply drive up prices.
750

How can government policies influence family finances?

  • Government policies can affect job opportunities, cost of living, and overall financial stability for families.
750

Analyze the relationship between economic stability and government intervention.

  • Economic stability often requires government intervention to manage growth and protect consumers.
1000

Explain supply and demand in a market economy.

  • Supply refers to the quantity of a product producers are willing to offer at various prices, while demand is the quantity consumers are willing to purchase.


1000

What role does the government play in the American economy?

The government implements policies and regulations to ensure economic stability and protect consumers.

1000

What is global trade and how does it affect American families?

  • Global trade involves exchanging goods and services across borders, affecting prices and product variety.
1000

Evaluate the impact of global trade on job opportunities in the United States.

Global trade can create job opportunities in some sectors while reducing them in others.

1500

How does supply and demand affect market prices?

  • The interaction between supply and demand determines the market price and quantity of goods and services.


1500

How do minimum wage laws impact workers and the economy?

  • Minimum wage laws ensure fair compensation for workers, impacting their purchasing power and the economy.
1500

Discuss the benefits of international trade for consumers.

  •  International trade can lead to lower prices and a greater variety of consumer products.
1500

Propose strategies that families can use to navigate economic changes effectively.

  • Families can stay informed, budget wisely, and adapt to economic changes to navigate effectively.