Began by reviewing the Intro to Economics quiz. Next we learned about scarcity, came up with our definition of economics, and identified the Basic Economic Problem all households, societies, governments, etc... must find solutions to..
Then introduced Economic Systems - started by identifying differences in societies around the world. Other countries and cultures do things very different from what we do here in the U.S. This applies to how they manage resources, produce goods and services, address wants and needs, and the distribution of goods and services as well. We defined what an Economic System is and discussed some from the past. Did the Feudal M&Ms activity.
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