Economic Systems Simulation
WORLD HISTORY PROJECT1750 / LESSON 4.2ACTIVITYECONOMIC SYSTEMS SIMULATIONUnless 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’veshapedsociety.ProcessRound 11.Time to play! You’ll start witha batch of treats. You can choose to keep your treats to have later, or you can find a partnerand play rock-paper-scissorsto 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 untiltime is up. If you run out of the treats, you’reout and must sit down.2.Count how many treats you have. Circle one:•Fewer than Istarted with•The same number Istarted with•More than Istarted 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 1750 / LESSON 4.2ACTIVITYECONOMIC SYSTEMS SIMULATION2Round 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 1750 / LESSON 4.2ACTIVITYECONOMIC SYSTEMS SIMULATION3CharacteristicCapitalismSocialismMultipleclassesinsocietyPricesarecontrolledBeliefin“laissezfaire”(noninterferencebygovernment)Individualsfollowtheirownself-interestEqualdistributionofwealthPeoplecanowntheirlandandbusinessesBusinessescompetetoprovidebettergoodsandservicesatlowerpricesPromotesequalityLawsof supplyand demandact as aninvisible handto set pricesCommunalownershipoverland/enterprise8.In your own words, what is capitalism?
WORLD HISTORY PROJECT 1750 / LESSON 4.2ACTIVITYECONOMIC SYSTEMS SIMULATION49.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.