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Market System

Lesson Objectives

  1. Learn the three basic types of economic systems.
  2. Understand the purpose of government in the market system according to classical liberalism.
  3. Analyze the ability of markets to promote the public interest.

Textbook reading

  • Chapter 1, 1-2 How People Interact

Non-textbook materials

Videos

Video: Introduction to the Market System
Video Questions, Answers & Updates
Video: Economic Systems
Video Questions, Answers & Updates
Video: The Role of the Government in Market Systems
Video Questions, Answers & Updates
Video: The Invisible Hand
Video Questions, Answers & Updates
Video: Market Failures
Video Questions, Answers & Updates

Study aids