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
Course Outcomes
📝 Practice Questions
30 interactive questions with instant feedback and explanations.
Enroll for free to unlock the full practice bank after the trial sessions.