Economic Systems Simulation

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Presentation transcript:

Economic Systems Simulation Understand the values of the three economic systems: traditional, command, and market Evaluate the strengths, weaknesses, and incentives relating to each economic system Evaluate the desired personality traits of people within different economic systems

To Begin… How does an economic system impact your life? Watch: https://www.youtube.com/watch?v=pbDeS_mXMnM

Economic Systems Game Working within all 3 simulated economic systems 3 five minute rounds…follow each stations directions…keeping score (tallied in between rounds) Follow the roles within each group’s directions Products: Rings ($2), bracelets ($5), necklace ($10) FOLLOW SEQUENCES!!!

Reflection How are people’s lives touched or affected by their economic system? Strength/weakness for each? Which system provides a better opportunity for a higher standard of living? Why? What are the most desired personality traits of each economic system? Which economic system is the best? Use all the information we have learned so far…

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