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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. Economic Systems Simulation. To Begin….

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Economic Systems Simulation

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  1. 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 Economic Systems Simulation

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

  3. 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!!!

  4. 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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