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9th grade · Social Studies · Unit 7 of 8

Markets, Banks & Money

Scarcity, the Fed and market structures

What your child practices

Scarcity and trade-offs, banks and the Federal Reserve, inflation, GDP and unemployment, market structures, comparative advantage and the role of government in the economy.

Oregon State Standards learning standard: HS.E.MI.4; HS.E.MI.5; HS.E.MI.6; HS.E.MI.7; HS.E.IC.8; HS.E.ST.11; HS.E.ST.12; HS.E.ST.15 · government's role in markets, banks and the Federal Reserve, economic indicators, scarcity, comparative advantage, market structures and slavery's role in the economy

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    The Federal Reserve is…

    • the central bank of the United States
    • a national park
    • a branch of Congress

  2. Question 2

    The unemployment rate is…

    • the share of the labor force without a job and looking for one
    • everyone without a job
    • the number of retirees

  3. Question 3

    Perfect competition has…

    • one seller
    • a few sellers
    • many sellers of identical products

  4. Question 4

    The Federal Reserve usually fights high inflation by…

    • lowering all taxes
    • raising interest rates
    • printing more money

  5. Question 5

    The Great Depression began after the stock market crash of…

    • 1929
    • 2008
    • 1865

  6. Question 6

    Monetary policy is set by…

    • the states
    • Congress
    • the Federal Reserve

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