Economic Systems经济系统.docVIP

Unit 2 - Economic Systems (6 days) The problem of scarcity forces every society to make difficult choices about how to use its resources. In trying to decide how to allocate those scarce resources, each society must answer three critical questions. How those questions are answered determines the type of economic system (market, command, traditional, mixed) that is present. EPF.1 The student will demonstrate knowledge of basic economic concepts and structures by e) comparing the characteristics of market, command, traditional, and mixed economies (BUS6120.034) Day 1 The three basic questions Day 2 Command, traditional, and market economies Day 3 The free market and the US economy EPF.1 The student will demonstrate knowledge of basic economic concepts and structures by f) identifying Adam Smith and describing the characteristics of a market economy (BUS6120.034) Day 1 Competition and the invisible hand Day 2 Property rights Evaluation Day EPF.1 The student will demonstrate knowledge of basic economic concepts and structures by e) comparing the characteristics of market, command, traditional, and mixed economies Day 1 - The three basic questions Content Knowledge Most high school students already understand the major advantages and disadvantages of selling concert tickets using a first-come/first-served system, rather than a lottery to select from among those who applied for tickets. Unfortunately, many students have experienced the use of force to allocate resources on the school playground. Students also know that families typically use authoritarian systems to decide how resources are used — Mom and Dad decide. 2 Individuals and organizations routinely use different decision-making systems to determine what should be produced, how it should be produced, and who will consume it. 2 When examining systems, the teacher should note the characteristics of each economic system. However, the most distinguishing characteristic is “who makes decisions?”