Tags » Economic Systems

Where were you when.....

China overtook the United States to become the World’s Largest Economy? According to the International Monetary Fund, it’s happening right now, and by the end of the year it’ll all be in the rear-view mirror. 16 more words

Economic Systems

Socialism and Lying

The Economist wrote a piece about a group of behavioural economists, including Dan Ariely, that recently ran an experiment to test Germans’ willingness to lie for personal gain. 266 more words

Behavioural Economics

Econ: Comparing Economic Systems

Today we learned that one of the few advantages existing in a traditional economy is that the roles of individuals are clearly defined. Every member of the society knows exactly what they are to do and most don’t have any complaints about it. 544 more words

Economics

Econ: Economic Systems

Today we learned that the way a nation determines how to use its resources to satisfy its people’s needs and wants is called an economic system. 143 more words

Economics

Satellite photo for economic systems


I use this great satellite photo to introduce types of economic systems. Usually get students to write down what they understand by the photo. You should get a range of answers from – … 79 more words

Economic Systems