Title: "Economic Systems"
Designed for Grades: 11-12
Estimated Time: 50 minutes
National Standards: Complies with NBEA Economics 2023 Standard II.1: Explain why societies develop economic systems, identify the basic features of different economic systems, and analyze the U.S. economic system’s major features.
Objectives:
● II.1.1. Identify why scarcity necessitates an economic system.
● II.1.2. Describe the characteristics of a market system (e.g., profit, competitive markets, and private ownership of property).
Materials:
● Whiteboard or Smart Board
● Opportunity Costs for a Healthy Economy handouts
● Quiz (handout)
● Student Laptops with internet access
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