Economics

In this lesson you will: (E.6.5.1) Describe different forms of economic systems (e.g., market, command, traditional, give examples of market (free trade), command (government controlled), and traditional (self-subsistence) economies in contemporary world).


 * Investigate ** and ** Take Notes ** the different forms of economic systems.

Steps (Day 1) 1. Do close reading with your partner pages 32-33. 2. Go to this website. Read and take notes on the different forms of economic systems. 3. Create a web here to take notes or create one on word document. 4. View the slide and take notes. 5. Compare the different forms of economic systems by completing the lesson here. 6. Ask your teacher for the handout for step #5. 7. Post your ** summary ** on discussion Day 1.

In this lesson you will: (E.6.6.2) Describe how economic incentives affect people's choices (e.g., the lack of necessities; the ability to acquire money, goods, and services; the need to avoid loss; the need for education; the possibility of moving to locations of opportunity)


 * Compare **the different types of economic incentives and ** Investigate ** how economic incentives affect people's choices.

Steps (Day 2) 1. What is an incentive? Find the meaning of incentive here. 2. Complete this interactive lesson on economic incentives. 3. Fill in this chart after completing activity #2 on step 1. 4. Do the interactive tic tac toe to review what you have learned. 5. Answer the ** question ** on discussion Day 2. -

In this lesson you will: (E.6.6.1) Explain the "law of demand" (i.e., scarcity of goods or services causes increase in demand which causes increase in their price which causes search for substitutes and decrease in demand; supply and demand and their effect on prices; increase and decrease in price, increase and decrease in demand)

Steps (Day 3)
1. Complete the interactive on econedlink. Follow the steps on the web site.