GED Social Studies

Comprehensive study of GED social studies covering fundamental concepts and advanced applications.

Foundations of GovernmentAmerican History EssentialsEconomics and Personal Finance
Analyzing Historical DocumentsCivic Participation and Public PolicyGeography and Global Connections
Reading Graphs, Charts, and MapsEvaluating Sources and Fake NewsPersonal Budgeting and Decision Making
Effective Reading and Note-TakingAnswering Multiple Choice Questions
Foundations of Gover...American History Ess...Economics and Person...Analyzing Historical...Civic Participation ...Geography and Global...Reading Graphs, Char...Evaluating Sources a...Personal Budgeting a...Effective Reading an...Answering Multiple C...
Basic Concepts

Economics and Personal Finance

The Basics of Economics

Economics is about choices—how people and societies use resources to satisfy needs and wants.

Key Concepts

  • Supply and Demand: Prices rise when demand is high and supply is low.
  • Opportunity Cost: Choosing one thing means giving up another.
  • Budgeting: Planning how to spend and save money.

Why It Matters

Understanding economics helps you make smart decisions with your money and recognize how larger economic forces affect your life.

Everyday Applications

From saving for a new phone to understanding taxes, economics is part of your daily routine.

Examples

  • Choosing to buy a used car instead of a new one to save money.

  • A store raises the price of sneakers when everyone wants the latest style.

In a Nutshell

Economics explains how people make choices about resources and money.

Key Terms

Supply and Demand
The relationship between how much of something is available and how much people want it.
Budget
A plan for how to spend and save money.
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Analyzing Historical Documents