Monday and Tuesday of this week we are studying the basic economic systems for most cultures including...

• Traditional Economy
• Command Economy
• Market Economy

Students will have the chance to discuss the features for each system as well as the advantages and disadvantages for them. When discussing a command economy we also had the chance to talk about communism and socialism and even a little bit about Karl Marx. Definitely some very high level discussions taking place.

Homework - Due Wednesday/Thursday (Oct. 8 or 9)
Imaginary three (3) person conversation between individuals that live in each of the above economies. In their conversation - focus on how each person might live within their economy - advantages and disadvantages, etc... Possible suggestion might be is to have the three try to show why their system is the best (advantages) while pointing out the problems of the others (disadvantages).