Aim:
How does an economic system help a society deal with the fundamental problem of
scarcity?
Journal 56 – What are the advantages and disadvantages of a traditional economy?
Objectives:
1.
Students will compare how the various economic systems (traditional, market,
command, mixed) answer the questions: (1) What to produce? (2) How to produce?;
and (3) For whom to produce?
2.
Students will identify and explain broad economic goals.
3.
Students will differentiate and draw conclusions about historical economic
thought theorized by economists.
Agenda:
1.Bell Ringer (10 min)
2.Complete the note-taking guide (Economic Systems) using your textbook (McGraw-Hill Economics
Principles and Practices pp. 32-53), online resources, or class notes as appropriate. (rest
of class)
Home Learning: We will continue to work on the note-taking guides tomorrow.
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