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|Economic Systems |
|Traditional Economies |Command Economies |Market Economies |Mixed Economies |
|(pg. 34-35) |(pg. 35-37) |(pg. 37-39) |(pg. 39-40) |
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|Characteristics: |Characteristics: |Characteristics: |Characteristics: |
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|Examples: |Examples: |Examples: |Examples: |
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|Advantages: |Advantages: |Advantages: |Advantages: |
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|Disadvantages: |Disadvantages: |Disadvantages: |Disadvantages: |
|Economic System Skit |
|In this project, you will write and perform skits illustrating the types of economic systems. |
|Traditional Economies |Command Economies |Market Economies |Mixed Economies |
|Team will create a traditional economic system. |Team will create a command economic system. |Team will create a market economic system. |Team will create a mixed economic system. |
|Directions: Select one traditional economy in the |Directions: Select and study one of the few |Directions: Teams research the basic principles of a|Directions: Select one mixed economy in the world to|
|world to research. Based on your findings, your team|remaining command economies in the world. Based on |market economy. Your team will then become a market |research. Based on your findings, your team will |
|will then “become” a traditional economy, with |your findings, your team will then “become” a command|economy, with members taking on the specific roles of|then “become” a mixed economy, with members taking on|
|members taking on the specific roles of people in the|economy, with members taking on the specific roles of|people/entities in that system, such as |the specific roles of people in the mixed system, |
|traditional system, such as village leader, hunter, |people/entities in your command system, such as |entrepreneurs, laborers, and consumers. After |such as government official, private industry, and |
|and hunter’s offspring. Team will perform a short |dictator, government planners, and workers. Team |completing research, your team will perform a brief |public industry. Team will perform a short skit for |
|skit for the class demonstrating how their |will perform a short skit for the class demonstrating|skit demonstrating the workings of their market |the class demonstrating how their mixed economy |
|traditional economy functions. Skits should cover |how their traditional economy functions. Skits |economy. Skit should cover how the system answers |functions. Skits should cover how the system answers|
|how the system answers the three basic economic |should cover how the system answers the three basic |the three basic economic questions. Add lively |the three basic economic questions. You may use the |
|questions. You may embellish your skits with |economic questions. You may embellish your skits |events to your skit such as a price war or a workers’|Spectrum of Mixed Economies chart on pg. 40 to create|
|dramatic events such as a young woman in a village |with major events like famine, drought, lack of |strike for high wages. |your own mixed economy. |
|challenging the traditional structure or the |needed resources, or five-year plans. | | |
|introduction of a new technology. | | | |
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