April 23

Focus Question: What types of economic systems do nations use? What are the benefits and drawbacks of each?

Today's lesson was mostly devoted to a simulation. Students' task was to draw a car to "sell" to their
classmates, who purchased them with mint Life Savers. In round one, I told students that they had to draw a minivan. Though one customer "purchased" one of the minivans, everyone received a mint for their efforts. In round two, the customer explained what their dream car would be. The producers were then able to draw whatever vehicle they thought would best sell to the customer. We had some creative vehicles! The simulation was followed with a brief discussion of which system was fairer, and students pointed out that each system was fair to some people and unfair to others. Finally, students took notes on three economic systems: communism (Round 1), capitalism (Round 2), and mixed.

Blog Post:

- What is an economic system?

  • What questions do they answer?
  • How did you learn about what it is?
- What are three types of economic systems countries might use?

  • How does each system work?
  • What are the advantages/drawbacks of capitalism and communism?
  • How did you learn about the economic systems?


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