Government & the Economy
This lesson uses the topic of cell phone service to illustrate how government and the economy are related. Students learn the difference between market, command, and mixed economies. Building on the idea of a mixed economy, the lesson discusses government limits on economic activity, including anti-trust laws, tariffs, and consumer protection. Having studied cell phone service as an example, students apply what they’ve learned by showing how the principles of a mixed economy work in the food production industry.
Students will be able to...
- Compare the government’s role in free market, command, and mixed economies.
- Analyze the role of consumers, private producers, and the government in the U.S. mixed economy.
- Explain the effects of government policies on the free market.
- Describe how government policies allow either free or restricted trade.
- Identify U.S. laws and regulations adopted to promote economic competition.
- Identify U.S. laws protecting consumer rights and avenues of recourse.