1. Warm-Up: What is the difference between revenue and profit.

2. Objective
SWBAT compare and contrast free enterprise, socialist, and communist economies

3. Three Economic Questions
What goods and services are produced?
How will goods and services be produced?
Who will get the goods and services?

4. Crash Course – Intro. to Economic Systems
As we watch the video, please answer the accompanying questions.

5. How Communist is China? Slate article
Read the article with your group and decide which elements of China’s economic system are more market and which are more command.