LESSON 11 ECONOMIC SYSTEMS OF THE INCAS AND

LESSON 11 – ECONOMIC SYSTEMS OF THE INCAS AND AZTECS Economic System Definition • Economic System: The institutional framework of formal and informal rules that a society uses to determine what to produce, how to produce, and how to distribute goods and services. FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

LESSON 11 – ECONOMIC SYSTEMS OF THE INCAS AND AZTECS Production Specifications Production Steps One Bracelet One Necklace Cut piece of string 10 inches long 16 inches long Draw dots on macaroni 10 pieces of using two different color macaroni— 5 with markers—use one color each color dot per piece of pasta 16 pieces of macaroni — 8 with each color dot Place macaroni on string 10 pieces of macaroni—alternate color dots 16 pieces of macaroni —alternate color dots Knot string Knot two ends of string together to create a necklace Knot two ends of string together to create a bracelet Trim knot using scissors Trim knot FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

LESSON 11 – ECONOMIC SYSTEMS OF THE INCAS AND AZTECS Production Recording Sheet Group # of Group Members # Produced Bracelets Value of Necklaces Production FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

LESSON 11 – ECONOMIC SYSTEMS OF THE INCAS AND AZTECS Economic Systems Group What to Produce How to Produce For Whom to Produce A B C FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

LESSON 11 – ECONOMIC SYSTEMS OF THE INCAS AND AZTECS Systems Definitions • Command System: An economy in which most economic issues of production and distribution are resolved through central planning and control. • Market System: An economy that relies on a system of interdependent market prices to allocate goods, services, and productive resources and to coordinate the diverse plans of consumers and producers, all of them pursuing their own self-interest. • Traditional System: An economy in which customs and habits from the past are used to resolve most economic issues of production and distribution. FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY