Aim: How do the different economic systems compare with each other?

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Presentation transcript:

Aim: How do the different economic systems compare with each other?

The Dreaded Disease A dreaded disease is unleashed on Franklin Square. There is only a limited amount of the antidote available. What would you do if you were in charge? How do you decide who gets the antidote? What factors made you come to this decision?

SCARCITY What is SCARCITY? Resources are limited (scarce), but people have unlimited needs and wants!!! SCARCITY

scarce in our world today? How does this cause problems What resources are scarce in our world today? How does this cause problems for our society?

Reading- Investigating three societies

Three Basic Economic Questions What goods and services should be produced? How should the goods and services be produced? Who will consume these goods and services?

do you believe is the best? Which economic system do you believe is the best? the worst? Explain

Aim: How is our world interdependent? Do Now: Make a list of five purchased items you have with you right now (clothing, phone, sneakers). What nations do those products come from? Why do you think we have so many products that are made in other nations? What does this say about our world today?

Globalization is a result of cultural diffusion and interdependence. Global Interdependence The process of nations around the world depending on each other for different things Globalization is a result of cultural diffusion and interdependence. Globalization is a process of interaction and integration among the people, companies, and governments of different nations. 1. Why must our world be interdependent? 2. Explain an example of globalization in our word today. 3. What is the difference between cultural diffusion and interdependence?

Global Interdependence Game Each team (nation) is given an envelope with resource cards in it, these are the resources your nation has. Count these and record them on your chart. In order to be successful you need to trade for the resources your nation needs to survive. Figure out what resources you need to survive. The goal for the end of the game is to get the resources you need by trading

Global Interdependence Game Why are each of these resources needed for a nation to survive? Why did some nations get envelopes with many different types of resource cards while others did not? How is this game similar to our world economy? What will happen to the nations that did not become interdependent in the game? Why is interdependence necessary for a nation’s success?