Social Goals of Economic
Systems (copy in binder)
LEQ 1: How do different economic systems prioritize the broad social
goals differently?
Vocabulary –
• Efficiency
Stability
• Equity
• Freedom
• Growth
• Security
Broad Social Goals
1.
2.
3.
4.
5.
Economic Efficiency
Economic Equity
Economic Freedom
Economic Growth
Economic Stability
Economic Efficiency (copy & complete in
binder)
• means not wasting scarce resources by producing
goods and services people want most, and keeping
the cost of production as low as possible.
Drawing: Work with a partner to create a drawing in
your notebook to represent the definition above
Economic Equity (copy & complete in binder)
• concerns about fairness in economic dealings. Providing everyone
with equal economic opportunities and outcomes.
Drawing: Work with a partner to create a drawing in your notebook to
represent the definition above
Economic Freedom (copy & complete in
binder)
• freedoms for consumers to decide how to spend or save their
incomes, for workers to change jobs, and for people to start or close
new businesses.
Drawing: Work with a partner to create a drawing in your notebook to
represent the definition above
Economic Growth (copy & complete in
binder)
• increasing the production of goods and services overtime.
Drawing: Work with a partner to create a drawing in your notebook to
represent the definition above
Economic Stability (copy & complete in
binder)
• refers to stable prices and full employment.
Drawing: Work with a partner to create a drawing in your notebook to
represent the definition above
1. Copy the Chart IN YOUR BINDER
2. Describe how the two different economic systems (Market and Command) would respond to each social goal.
3. Why would they respond that way?
MARKET ECONOMY
SOCIAL GOALS
Economic Freedom
Economic Growth
Economic Stability
Economic Equity
Economic Efficiency
COMMAND ECONOMY
Group Activity – Comparative Systems
Worksheet
• One laptop per group
• Follow all group expectations
• Work together to complete the Comparative Systems Worksheet
• Use the CIA Factbook - https://www.cia.gov/library/publications/the-worldfactbook/
• Once completed, individually complete the review questions on the
back of the worksheet.
• USE COMPLETE SENTENCES AND EVIDENCE TO ANSWER THE QUESTIONS
Market and Command Economies in History
Athens
Sparta
Types of Economic Freedoms – copy and
complete in binder or on chart
Economic Freedoms
Examples of Freedoms
Examples of Restrictions on
Economic Freedoms
Buy a house, farm, or
business of your choice
Required to pay property
taxes and taxes on earnings
or profits to pay for
government services
Freedom to trade with
others.
Owners of clothing stores
may purchase clothing made
in other nations and offer
them for sale
The government
sometimes taxes or
limits imports of
certain products
Freedom to use money
however we like.
Buy a car of your choice
Required to obey traffic laws
and have a license to drive
Freedom for individuals to
own and use property as
they choose.
The Economy of Ancient Greece (copy in binder)
• The Greek city-states developed a system of
individual land ownership and the right to buy
or sell products made in these areas.
• Easy access to the sea permitted trade to
flourish.
• The Greek colonies had unrestricted access to
markets on the Greek mainland.
• The colonies traded wheat, meat, dried fish,
hides, wool, timber, and basic metals.
• People on the Greek mainland produced
finished products to trade, such as wine,
pottery, perfumes, and works of art.
• The Greeks used coined money to make
trading easier, leading to a greater expansion
of trade.
Activity #1 – Comparing Economic Systems:
Athens and Sparta
• This is an individual activity
• Complete all questions in COMPLETE SENTENCES with DETAILS on a
separate piece of paper.
• Label your paper correctly. Turn in bin when finished
Economic Freedom in Ancient Athens and Sparta – COPY
CHART IN BINDER or on worksheet; USE Reading to
complete
Economic Freedom
Athens
Sparta
Freedom for individuals to
own and use property as
they choose.
People were free to own
land, and to buy and sell
land.
The state determined the
pattern of land ownership.
Freedom to trade with
others.
Internal trade was free.
External grain trade was
permitted under some
state controls.
The use of money-silver
and gold-was restricted to
limit or even end trading.
Freedom to use money
however we like.
People could buy or sell
the goods and services
they chose, and consume
what they purchased.
People had little choice
regarding the food they
ate
Assessment – COMPLETE ON PAPER IN COMPLETE
SENTENCES WITH DETAILS (turn into bin)
• In what ways are the economic systems of Athens and Sparta similar?
Different?
• Suppose there are two most excellent time travelers, Bill and Ted,
who visit ancient Athens and Sparta, and then jump forward to
modern United States. In two paragraphs, note the major similarities
and differences Bill and Ted notice between these political and
economic systems, and in the standards of living in the four
economies, including the range of goods and services that people
consume.
Time Traveler Comic (print and turn into bin)
• Create a 6 box comic strip about a character that
traveled back in time to ancient Athens and Sparta.
Describe the character’s experiences as he travels
through the different economic systems.
• Go to http://www.storyboardthat.com/
Create Your Own Utopian Society
100 points total
Economic Freedom
_____ Pts
Why:
Economic Growth
_____ Pts
Why:
Economic Stability
_____ Pts
Why:
Economic Equity
_____ Pts
Why:
Economic Efficiency
_____ Pts
Why:
• Copy the chart on a piece of lined paper.
• Each group has 100 points to assign to the social goals
they feel are most important to create their ideal
society.
UTOPIAN SOCIETY GROUP ACTIVITY
• CREATE A NAME FOR YOU UTOPIAN SOCIETY
• DESCRIBE HOW THE FIVE SOCIAL GOALS FUNCTION IN YOUR SOCIETY
• DETERMINE IF YOUR UTOPIAN SOCIETY WOULD MATCH A MARKET
OR COMMAND ORIENTED ECONOMY. JUSTIFY YOUR ANSWER.
• EXPLAIN HOW SUCCESSFUL YOUR ECONOMY WOULD BE IN MEETING
THE SOCIAL GOLS AND YOUR CITIZENS NEEDS? BE SPECIFIC
• USE POWER POINT ON THE LAPTOP TO CREATE A PRESENTATION.
EMAIL FINAL POWERPOINT BY THE END OF CLASS.
• BE PREPARED TO SHARE PRESENTATION WITH CLASS.