Bead Game Debriefing green and blue rectangles reveal

Bead Game Debriefing • green and blue rectangles reveal by column • orange rectangles reveal by row • red rectangles reveal when clicked with your mouse

Traditional Command Market Name of the economic system in our simulation That's-the-way-we'vealways-done-it-ville We-do-what-we're-told -ville Make-as-much-as-wewant-ville Definition economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed economic system in which the government decides what will be produced, how it will be produced and how it will be distributed economic system in which the people decide what will be produced, how it will be produced and how it will be distributed Freedom to make decisions A little None Lots Choice of Jobs Custom directed Government directed Individual preference Motivation to Produce Traditional incentives – it’s expected of you Limited social gain More money – self gain What to Produce Whatever is traditionally produced there Whatever the government decides is most needed Whatever is most profitable For Whom to Produce Distributed by custom Those declared in need by Government Highest bidder – whoever can buy it! Custom, Traditional Ways and Beliefs Cooperation, "Moral" Rewards, Societal Gain, Governmental Decree Competition, Material Rewards, Self-gain, Freedom Base Values

Traditional Command Market Name of the economic system in our simulation That's-the-way-we'vealways-done-it-ville We-do-what-we're-told -ville Make-as-much-as-wewant-ville Definition economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed economic system in which the government decides what will be produced, how it will be produced and how it will be distributed economic system in which the people decide what will be produced, how it will be produced and how it will be distributed Freedom to make decisions A little None Lots Choice of Jobs Custom directed Government directed Individual preference Motivation to Produce Traditional incentives – it’s expected of you Limited social gain More money – self gain What to Produce Whatever is traditionally produced there Whatever the government decides is most needed Whatever is most profitable For Whom to Produce Distributed by custom Those declared in need by Government Highest bidder – whoever can buy it! Custom, Traditional Ways and Beliefs Cooperation, "Moral" Rewards, Societal Gain, Governmental Decree Competition, Material Rewards, Self-gain, Freedom Base Values

economic systems Traditional economy - economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed Command economy – economic system in which the government decides what will be produced, how it will be produced and how it will be distributed Market economy – economic system in which the people decide what will be produced, how it will be produced and how it will be distributed

Traditional Ø Ø Ø Command Ø Government determines your job People make their own Ø Consumers have few products with very little choices in the market specialization and very little individual Found in rural, nonfreedom developed parts of Asia, Ø Government sets the South America and price of goods and Africa services Technology not used Ø Factories are concerned Farming, hunting, and about meeting quotas gathering are done the and businesses are not same way as the run to create a profit generation before Ø No competition Men and women have between businesses different economic Ø Government or other roles. central authority makes Economic activities are decisions about and centered toward the determines how family unit or ethnic natural, capital, and group human resources will be used. Market Ø Resources (capital and natural) are owned by individuals Ø Economic decisions are made by individuals competing to earn a profit Ø Based on supply and demand (if people are willing to buy it, then businesses will make it) Ø Many economic freedoms and choices in the market place Ø No government intervention in the economy. Ø Profit is the motive for increased work rather than quotas Ø Businesses try to produce goods for the least cost possible in order to make the most profit Ø ALSO CALLED CAPITALIST ECONOMY

Traditional Ø Ø Ø Command Ø Government determines your job People make their own Ø Consumers have few products with very little choices in the market specialization and very little individual Found in rural, nonfreedom developed parts of Asia, Ø Government sets the South America and price of goods and Africa services Technology not used Ø Factories are concerned Farming, hunting, and about meeting quotas gathering are done the and businesses are not same way as the run to create a profit generation before Ø No competition Men and women have between businesses different economic Ø Government or other roles. central authority makes Economic activities are decisions about and centered toward the determines how family unit or ethnic natural, capital, and group human resources will be used. Market Ø Resources (capital and natural) are owned by individuals Ø Economic decisions are made by individuals competing to earn a profit Ø Based on supply and demand (if people are willing to buy it, then businesses will make it) Ø Many economic freedoms and choices in the market place Ø No government intervention in the economy. Ø Profit is the motive for increased work rather than quotas Ø Businesses try to produce goods for the least cost possible in order to make the most profit Ø ALSO CALLED CAPITALIST ECONOMY

Traditional Ø People make their own products with little specialization Ø Found in rural, nondeveloped countries Parts of Asia, South America and Africa Ø Technology not used Ø Farming, hunting, and gathering are done the same way as the generation before Ø Men and women have different economic roles and tasks Ø Economic activities are centered toward the family or ethnic unit Command Market Ø Resources (capital and natural) are owned by Ø Government determines individuals your job Ø Economic decisions are Ø Consumers have few made by individuals choices in the market competing to earn a and very little individual profit freedom Ø Based on supply and Ø Government sets the demand (if people are willing to buy it, then businesses will price of goods and make it) services Ø Many economic freedoms Ø Factories are concerned and choice in the market about meeting quotas place and businesses are not Ø No government run to create a profit intervention in the Ø No competition between economy. businesses Ø Profit is the motive for Ø Government or other increased work rather than quotas central authority makes Ø Businesses try to produce decisions about and goods for the least determines how amount/cost possible in natural, capital, and order to make the most human resources will be profit used. Ø ALSO CALLED CAPITALIST ECONOMY

Traditional Market Ø For whom to produce? make their own products /little specialization Ø Found in rural, nondeveloped countries (some parts of Asia, South America, and Africa) Ø Men and women have different economic roles and tasks Ø Technology not used Ø Farming, hunting, and gathering are done the same way as the generation before Ø Activities are centered toward the family or ethnic unit Ø How to produce? hunting, farming, and gathering. Ø What to produce? What people need to survive. Ø Resources (capital and natural) are owned by individuals Ø Economic decisions are made by individuals competing to earn a profit Ø Based on supply and demand (if people are willing to buy it, then businesses will make it) Ø Many economic freedoms and choice in the market place Ø No government intervention in the economy. Ø Profit is the motive for increased work rather than quotas Ø Businesses try to produce goods for the least amount/cost possible in order to make the most profit Ø ALSO CALLED CAPITALIST ECONOMY Command Ø Government determines your job Ø Consumers have few choices in the market and very little individual freedom Ø Government sets the price of goods and services Ø Factories are concerned about meeting quotas and businesses are not run to create a profit Ø No competition between businesses Ø Government or other central authority makes decisions about and determines how natural, capital, and human resources will be used.

Traditional Command Market Name of the economic system in our simulation That's-the-way-we'vealways-done-it-ville We-do-what-we're-told -ville Make-as-much-as-wewant-ville Definition economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed economic system in which the government decides what will be produced, how it will be produced and how it will be distributed economic system in which the people decide what will be produced, how it will be produced and how it will be distributed Freedom to make decisions A little None Lots Choice of Jobs Custom directed Government directed Individual preference Motivation to Produce Traditional incentives – it’s expected of you Limited social gain More money – self gain What to Produce Whatever is traditionally produced there Whatever the government decides is most needed Whatever is most profitable For Whom to Produce Distributed by custom Those declared in need by Government Highest bidder – whoever can buy it! Custom, Traditional Ways and Beliefs Cooperation, "Moral" Rewards, Societal Gain, Governmental Decree Competition, Material Rewards, Self-gain, Freedom Base Values

Traditional Ø Ø Ø Command Market Ø Resources (capital and natural) are owned by Ø Government determines individuals your job Ø Economic decisions are Ø Consumers have few People make their own made by individuals choices in the market products with very little competing to earn a and very little individual specialization profit freedom Found in rural, nonØ Based on supply and Ø Government sets the developed countries demand (if people are willing price of goods and to buy it, then businesses will Parts of Asia, South services make it) America and Africa Ø Factories are concerned Ø Many economic freedoms Technology not used and choices in the market about meeting quotas Farming, hunting, and place and businesses are not gathering are done the Ø No government run to create a profit same way as the intervention in the Ø No competition between generation before economy. businesses Men and women have Ø Profit is the motive for Ø Government or other different economic roles. increased work rather central authority makes than quotas Economic activities are decisions about and Ø Businesses try to produce centered toward the determines how goods for the least cost family or ethnic unit natural, capital, and possible in order to make human resources will be the most profit used. Ø ALSO CALLED CAPITALIST ECONOMY

Traditional Command Market Name of the economic system in our simulation That's-the-way-we'vealways-done-it-ville We-do-what-we're-told -ville Make-as-much-as-wewant-ville Definition economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed economic system in which the government decides what will be produced, how it will be produced and how it will be distributed economic system in which the people decide what will be produced, how it will be produced and how it will be distributed Freedom to make decisions A little None Lots Choice of Jobs Custom directed Government directed Individual preference Motivation to Produce Traditional incentives – it’s expected of you Limited social gain More money – self gain What to Produce Whatever is traditionally produced there Whatever the government decides is most needed Whatever is most profitable For Whom to Produce Distributed by custom Those declared in need by Government Highest bidder – whoever can buy it! Custom, Traditional Ways and Beliefs Cooperation, "Moral" Rewards, Societal Gain, Governmental Decree Competition, Material Rewards, Self-gain, Freedom Base Values

Traditional Ø Ø Ø Command Market Ø Resources (capital and natural) are owned by Ø Government determines individuals your job Ø Economic decisions are Ø Consumers have few People make their own made by individuals choices in the market products with very little competing to earn a and very little individual specialization profit freedom Found in rural, nonØ Based on supply and Ø Government sets the developed countries demand (if people are willing price of goods and to buy it, then businesses will Parts of Asia, South services make it) America and Africa Ø Factories are concerned Ø Many economic freedoms Technology not used and choices in the market about meeting quotas Farming, hunting, and place and businesses are not gathering are done the Ø No government run to create a profit same way as the intervention in the Ø No competition between generation before economy. businesses Men and women have Ø Profit is the motive for Ø Government or other different economic roles. increased work rather central authority makes than quotas Economic activities are decisions about and Ø Businesses try to produce centered toward the determines how goods for the least cost family or ethnic unit natural, capital, and possible in order to make human resources will be the most profit used. Ø ALSO CALLED CAPITALIST ECONOMY

Market Command Traditional Name of the economic system in our simulation Make-as-much-as-we -want-ville We-do-what-we'retold-ville That's-the-way-we've -always-done-it-ville Definition economic system in which the people decide what will be produced, how it will be produced and how it will be distributed economic system in which the government decides what will be produced, how it will be produced and how it will be distributed economic system in which social roles and culture decide what will be produced, how it will be produced and how it will be distributed Freedom to make decisions Lots None A little Choice of Jobs Individual preference Government directed Custom directed Motivation to Produce More money – self gain Limited social gain Traditional incentives – it’s expected of you What to Produce Whatever is most profitable Whatever the government decides is most needed Whatever is traditionally produced there For Whom to Produce Highest bidder – whoever can buy it! Those declared in need by Government Distributed by custom Base Values Competition, Material Rewards, Self-gain, Freedom Cooperation, "Moral" Rewards, Societal Gain, Governmental Decree Custom, Traditional Ways and Beliefs