Economic Systems Simulation
WORLD HISTORY PROJECT ORIGINS / LESSON 7.6 ACTIVITYECONOMIC SYSTEMS SIMULATION Unless otherwise noted, this work is licensed under CC BY 4.0. Credit: “Economic Systems Simulation,” OER Project, https://www.oerproject.com/1PurposeThis simulation will help you see how different economic systems distribute goods and power. You’ll explore both the benefits and drawbacks of these systems to better understand how they’ve shaped society. Process Round 11.Time to play! You’ll start with a batch of treats. You can choose to keep your treats to have later, or you can find a partner and play rock-paper-scissors to win more treats. If you win, your opponent must give you one of their treats; if you lose, you must give them one of yours. Keep playing with new partners until time is up. If you run out of the treats, you’re out and must sit down.2.Count how many treats you have. Circle one:•Fewer than I started with•The same number I started with•More than I started with3.Answer the questions below based on your experience:•What helped or hurt your outcome?•Do you think the game was fair? Why or why not?
WORLD HISTORY PROJECT ORIGINS / LESSON 7.7 ACTIVITYECONOMIC SYSTEMS SIMULATION 2Round 24.You will be given another batch of treats. You can once again choose to keep your treats to have later, or play another round of the game using the same rules as before.5.Count how many treats you have. Circle one:•Fewer than I started with•The same number I started with•More than I started with6.Answer the questions below based on your experience:•Which round was better for you personally? Why?•Which round do you think was more fair? Why?Reflection 7.For each characteristic in the table on the next page, decide if it applies to capitalism or socialism and check the appropriate box.
WORLD HISTORY PROJECT ORIGINS / LESSON 7.7 ACTIVITYECONOMIC SYSTEMS SIMULATION 3CharacteristicCapitalismSocialismMultiple classes in societyPrices are controlledBelief in “laissez faire” (noninterference by government)Individuals follow their own self-interestEqual distribution of wealth People can own their land and businessesBusinesses compete to provide better goods and services at lower pricesPromotes equalityLaws of supply and demand act as an invisible hand to set pricesCommunal ownership over land/enterprise8.In your own words, what is capitalism?
WORLD HISTORY PROJECT ORIGINS / LESSON 7.7 ACTIVITYECONOMIC SYSTEMS SIMULATION 49.In your own words, what is socialism?10.Write a four- or five-sentence response explaining which society (capitalist or socialist) you would prefer to live in.