Aim: Are the roles of the entrepreneur, the consumer, and the government in the free enterprise system equally important, or is one more important than the other?
Bell Ringer: Review Journal 10
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) F7or 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. Concept Map and Economic Systems note-taking guide presentations. (rest of class)
4. Have students complete the note-taking guide as each group presents their designated topic.
Home Learning: Journal 11 – Explain who makes economic decisions in a market economy.
Journal 12 – Describe the advantages and disadvantages of a mixed economy
Quiz review for the S/A response on tomorrow's quz:
1. Five major disadvantages of a Command Economy
2. Who makes economic decisions in a Market Economy
3. Advantages and disadvantages of Mixed Economy
4. Difference between socialism and communism
5. Describe two economic goals and how they relate to you.
Quiz review for the S/A response on tomorrow's quz:
1. Five major disadvantages of a Command Economy
2. Who makes economic decisions in a Market Economy
3. Advantages and disadvantages of Mixed Economy
4. Difference between socialism and communism
5. Describe two economic goals and how they relate to you.
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