Sparks Fly
[Home] [PBS VideoDatabase] [Social Studies] [TSU] [UVA]

Standard 7.6    The student will explain the structure and operation of the United States economy as compared with other economies, with emphasis on

• the basic concepts of free markets, as described by Adam Smith and
• communism, as described by Karl Marx

Basic Economic Questions

Adam Smith and Karl Marx

Characteristics of a Free Market and Command Economy

Role of Financial Institutions in an Economy

Flow of Money, Goods, and Services in an Economy 

Links Page to Economic sites

Comparison of Free Market, Command Economy, and Mixed Economy

Terminology