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1、UNIT2-ECONOMICSYSTEMS(6Days)Theproblemofscarcityforceseverysocietytomakedifficultchoicesabouthowtouseitsresources.Intryingtodecidehowtoallocatethosescarceresources,eachsocietymustanswerthreecriticalquestions.Howthosequestionsareanswereddeterminesthetypeofeconomicsystem(market,command,t
2、raditional,mixed)thatispresent.EPF.1Thestudentwilldemonstrateknowledgeofbasiceconomicconceptsandstructuresbye)comparingthecharacteristicsofmarket,command,traditional,andmixedeconomies(BUS6120.034)Day1ThethreebasicquestionsDay2Command,traditional,andmarketeconomiesDay3Thefreemarketandth
3、eUSeconomyEPF.1Thestudentwilldemonstrateknowledgeofbasiceconomicconceptsandstructuresbyf)identifyingAdamSmithanddescribingthecharacteristicsofamarketeconomy(BUS6120.034)Day1CompetitionandtheinvisiblehandDay2PropertyrightsEvaluationDay12January2012VirginiaCouncilonEconomicEducationEPF.1
4、Thestudentwilldemonstrateknowledgeofbasiceconomicconceptsandstructuresbye)comparingthecharacteristicsofmarket,command,traditional,andmixedeconomiesDay1-ThethreebasicquestionsContentKnowledgeMosthighschoolstudentsalreadyunderstandthemajoradvantagesanddisadvantagesofsellingconcerttickets
5、usingafirst-come/first-servedsystem,ratherthanalotterytoselectfromamongthosewhoappliedfortickets.Unfortunately,manystudentshaveexperiencedtheuseofforcetoallocateresourcesontheschoolplayground.Studentsalsoknowthatfamiliestypicallyuseauthoritariansystemstodecidehowresourcesareused—Momand
6、Daddecide.2Individualsandorganizationsroutinelyusedifferentdecision-makingsystemstodeterminewhatshouldbeproduced,howitshouldbeproduced,andwhowillconsumeit.2Whenexaminingsystems,theteachershouldnotethecharacteristicsofeacheconomicsystem.However,themostdistinguishingcharacteristicis“whom
7、akesdecisions?”Thegreatertheamountofdecision-makingthatislefttotheindividualproducerandconsumer,thecloserasystemistoamarketsystem.Thegreatertheamountofdecision-makingthatislefttoacentralizedauthority,thecloserthesystemistoacommandsystem.Anotherfactorthatmaybeconsideredis“whobearsther
