Whenever you need help, please ask for it.

Please write your homework in your assignment book.
Please review the goal and agenda for the day (posted in the classroom).

Today in class you will 

• show that you understand that different country have different economic systems.
• show you understand some of the characteristics of the three basic economic systems.

Why?

• To develop your understanding of basic economic concepts.
• To begin seeing connections between yourself and other parts of the world.
• To describe how different economic systems try to answer the basic economic questions of what to produce, how to produce, and for whom to produce.

1.  (7 min) Read the simulation directions with your group and ask questions about the procedure.

2.  (20 min) Participate in the simulation.

3.  (7 min) Discuss with your group the following questions:

• What did your group produce?
• Why did you produce that?  Who decided?
• How did you go about producing your goods?
• Why did you produce the goods the way you did?  Who decided?
• Think about your answers to the previous:  For whom do you think you would be producing the goods?
• Other things to consider:  Was it an easy and relaxed situation or more stressful?  Did you have a lot of choice?  Did you feel restricted in what you could do?  Did you have a lot of incentive (motivation to produce as much as possible)? Did you feel your skills were maximized?

4.  (15 min) Class debriefing. (We may need to finish tomorrow.)