High School Econ Questions
I. An Economic Way of Thinking
What is economics all about?
What principles guide an economic way of thinking?
What tools do economists use?
II. Economic Decision Making
Why is what we want scarce?
How do we satisfy economic wants?
What do we give up when we make a choice?
How can we measure what we gain and lose when making choices?
III. Economic Systems
How do societies decide who gets what?
Who decides what in different economic systems?
How do mixed economies divide the decision making?
What are the key characteristics of the American economic system?
IV Gains from Trade
How does specialization lead to economic interdependence?
How do people and nations gain from specialization and trade?
How does trade make us wealthier?
V. Demand and Supply
How do demand and price interact?
What can cause demand to change?
How do supply and price interact?
What can cause supply to change?
What is demand elasticity? What factors influence it?
What is supply elasticity? What factors influence it?
VI. Markets, Equilibrium and Price
What happens when demand meets supply?
What happens when the price isn't “right”?
How do shifts in supply or demand affect markets?
What role do prices play in a modern mixed economy?
How does government intervention affect markets?
VII. Market Structures and Market Failures
What is perfect competition, and why do economists like it so much?
What is a monopoly, and why are some monopolies legal?
What is an oligopoly, and how does it limit competition?
What is monopolistic competition, and how does it affect markets?
Market failures: What are externalities and public goods?
VIII. Money, Banking, Saving, and Investing
What makes money . . . money?
How does the banking system work?
Why is saving important to the economy—and to you?
How do Americans invest their savings?
IX. Entrepreneurs and Business Organizations
What does it take to start a new business?
What kinds of businesses are best organized as sole proprietorships?
What kinds of businesses are organized as partnerships?
Why are large businesses organized as corporations?
What purposes are served by franchises, cooperatives, and nonprofit organizations?
What rights and responsibilities do businesses have in a free enterprise system?
X. Human Capital and the Labor Market
What trends are shaping today's labor market?
What determines how much workers earn?
What can you do to increase your human capital?
What role do unions play in the labor market?
XI Government and the Economy
How does the government protect property rights?
What regulatory roles does government play in our economy?
How should government address externalities and public goods?
What does government do to promote economic well-being?
XII Taxes and Taxation
What are taxes and how should they be levied?
What kinds of taxes will you pay in your lifetime?
How do U.S. governments spend the revenue they raise?
XIII Measuring the Economy
How do economists measure the size of an economy?
What does the unemployment rate tell us about an economy's health?
What does the inflation rate reveal about an economy's health?
How does the business cycle relate to economic health?
XIV Fiscal and Monetary Policy
What are the origins of modern fiscal and monetary policy?
What tools does fiscal policy use to stabilize the economy?
What tools does monetary policy use to stabilize the economy?
What factors limit the effectiveness of fiscal and monetary policy?
XV The United States and the Global Economy
Why is global trade growing in importance?
What goods and services do countries trade?
How and why do countries regulate trade?
How is global trade financed?
XVI The Costs and Benefits of Globalization
Who are the main players in the globalization debate?
Has globalization helped or hindered economic development?
Has globalization helped or hurt the environment?
Does globalization enrich or threaten local cultures?
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