GED® Social Studies: Economics
Economics is one of the four content areas on the GED® Social Studies test. This course covers everything you need: scarcity and opportunity cost, how supply and demand set prices, market structures from competition to monopoly, personal finance skills like budgeting and credit, the government's role in the economy, macroeconomic indicators like GDP and inflation, and how to read economic graphs and data. Every lesson uses real-world examples, key-term definitions, misconception warnings, and tips.
📚 Course Curriculum
Economics begins with one unavoidable reality: resources are scarce, but human wants are unlimited. Scarcity means there is never enough of everything for everyone, so …
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In a market economy, prices are not set by any single person. They emerge from the interaction of two forces: supply and demand. Demand describes …
Open trial session →Not all markets work the same way. Market structure describes how many sellers compete, whether their products are similar, and how much control any single …
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Personal finance is the application of economic thinking to your own money. The GED® tests real-world financial literacy -- skills every adult needs. Budgeting is …
Open trial session →Even in a mostly market economy like the United States, the government plays a significant role -- setting rules, providing services markets will not, and …
Open trial session →Macroeconomics looks at the economy as a whole -- national output, employment, price levels, and growth -- rather than individual markets. Gross Domestic Product (GDP) …
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The GED® Social Studies test regularly presents graphs, tables, and charts about economic topics. Learning to read them accurately is a tested skill in its …
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Course Syllabus
This self-paced GED® Social Studies course follows a 7-lesson sequence. Work through the modules in order so that each skill supports the next.
Course sequence
Module 1 - Lessons 1-4
- Basic Economic Concepts
- Supply and Demand
- Market Structures
- Personal Finance
Module 2 - Lessons 5-7
- The Role of Government in the Economy
- Macroeconomics
- Reading Economic Data and Graphs
Practice and completion
- Use worked examples and lesson practice to check understanding after each module.
- Review incorrect answers, explain the correction, and repeat weak skills.
- Complete the available mixed or final course practice to demonstrate readiness.
Course Outcomes
By the end of this course, learners will be able to:
- Explain the important civic, historical, economic, or geographic ideas in Basic Economic Concepts.
- Analyze sources, evidence, and data related to Market Structures.
- Compare perspectives and draw supported conclusions about Personal Finance.
- Apply source-based reasoning to questions involving The Role of Government in the Economy.
- Connect Reading Economic Data and Graphs with other course themes in mixed practice.
- Use feedback and answer explanations to diagnose and correct mistakes.
- Complete mixed, exam-style practice with clearer reasoning and greater independence.
📝 Practice Questions
30 interactive questions with instant feedback and explanations.
Enroll for free to unlock the full practice bank after the trial sessions.