step 3 – turn to p. 91 and add an explanation of command economy to your web

Step 3 – Turn to p. 91 and add an explanation of Command Economy to your web.

Economic Systems

Market Econom

y

Command Economy

1. Explanation

1. Explanation

2. Characteristics

2. Summary

Step 4 – Add two bubbles to your web, one for characteristics and one for summary.

Economic Systems

Market Econom

y

Command Economy

1. Explanation

1. Explanation3. Characteristics

3. Characteristics

2. Summary

2. Summary

Command Economy

• Summary All products, businesses, and money is controlled by the GOVERNMENT.

Task • Flip to your notes page• Write three products and businesses you supported or

used today after you woke up. – Ex. I used Crest toothpaste, I watched a Samsung TV, and I used

gas from Exxon-Mobil to get here.

• Characteristics1. GOVERNMENT owns all land.

Eli – Lives in Cuba

“No way.”

Property of the Cuban

Government

“You must live here.

• Characteristics1.GOVERNMENT owns all land. 2.GOVERNMENT chooses your job.

Eli – Lives in Cuba

“Sorry pal.”

“You must work here.

Eli – Lives in Cuba

• Characteristics1. GOVERNMENT owns all land. 2. GOVERNMENT chooses your job. 3. GOVERNMENT owns all businesses.

“How many times do I gotta

tell you no.” “No privately owned

businesses. Get in the food lines.

Step 5 – Effects of Command Economy

Economic Systems

Market Econom

y

Command Economy

1. Explanation

1. Explanation3. Characteristics

3. Characteristics

2. Summary

2. Summary

4. Effects

Eli – Lives in Cuba

Command Economy

Effects• Very few rich people, many poor people• Economy doesn’t grow

And they’re crazy if they think I’m

working hard as a farmer.

Since I’m in the government, my friends and I are

rich.

But I’m not. They barely pay me.

Project Decision

• Projects are not going to be graded, instead every kid will receive a 65%.

• The teachers are meeting after school to discuss this decision.

• Write your answer to the questions on the next slide and I will take your responses to the meeting.

• Put these answers in your notebook under the Command Economy notes section, not on your Web.

Project Decision

• Projects are not going to be graded, instead every kid will receive a 65%.

• Put these answers in your notebook under the Command Economy notes section, not on your Web.

1. Answer the question below that fits you… • If you turned in a project, how do you feel about this new

policy?• If you did not turn in a project, how do you feel about this

new policy?

2. How will this effect your work in the future?

3. How is this like a command economy?

US 2012• The election is over and the new US President is a member

of the Communist Party. Thus, the US economic system switched from a Market Economy to a Command Economy.

• Use the official US economics paper to complete the following activities:– Divide your paper into 4 sections. – Sketch 3 pictures that show how your life would be different if this

happened in 2012.– Include a caption underneath each picture explaining what is

happening. • Have one picture for each characteristic and effect of a command

economy. – In the fourth box, complete the following statement:

• I support/do not support this switch in policy because…

Switch from a market economy to a command economy.

Directions:- How would your life be different if the US switched to a command economy? (3 pictures, 3 captions)- Complete the statement below in box #4

Picture 1

Caption

Picture 2

Caption

Picture 3

Caption

Statement: I support/do not support this change in economic policy because…

Country Analysis

Background: • Government controls all

land.

• Government chooses your job.

Analysis:• ___________ is their

political system.

• Examples:

Background: • People and their demand

controls the economy.

• People can pick their own jobs and work hard for profits.

Analysis:• __________ is their

political system.

• Examples:

Closure:

1) Question of the Day.

2) Which economic system will your Island Country have?

- Explain why you made your choice.

Notebook setup

• Turn to the NOTES portion of your notebook right before (or after) your Web that we created earlier.

• Leave some space after the point where you left off.

• Title today’s notes COMMAND ECONOMY.

Economics

-Econ definition

-Economic systems

Market Economy Notes

Command Economy

(put today’s notes here)