1. EARNING A LIVING SIMULATION

2. BUSINESSES AND HOUSEHOLDS
Goal: end the simulation with more resources than you started
Businesses vs. businesses
Households vs. households

3. BUSINESSES Goal: make money How?
The more you have, the happier you’ll be!
How?
Buy various factors of production (land, labor, capital) from households
Once you have one of each factor of product, you may come to me and trade the three of them for one econo
Sell econos back to households for money

4. HOUSEHOLDS Goal: make econos How?
The more you have, the happier you’ll be!
How?
Sell your factors of production to the businesses for money
Buy econos from the businesses

5. TRADING Trading may ONLY occur in the marketplace
You cannot rip your $100 – you must sell in increments of $100 (but, you can buy four labor resources for $300…)
When you are finished trading, you may return to your desk
You will have 15 minutes to trade in the marketplace

6. OTHER RULES
You MUST trade. If you do not trade, you will receive a 60% for this exercise
Speaking of grades…
BUSINESSES – BASED ON MONEY ONLY
HOUSEHOLDS – BASED ON ECONOS ONLY
100%
Highest profit
Highest amount of econos
95%
Profit
Above average
90%
Break even
Average
80%
Loss
Below average
60%
Bankrupt/no transaction
No econos

7. DEBRIEF: EXIT TICKETS What did you do well? What did you not do well?
If you could play the game again, what would you do differently?
Explain “economic interdependence” in your own words, based on what you learned in the game.
Predict: what would happen if you improved the ‘life’ of businesses? How would that effect households?