Economic Sysytems

You will be completing this on paper and turning it in the substitute.  This will be counted as a quiz grade, so focus and complete the work.

1) Complete questions 1-8 under Recalling Facts & Ideas on page 52 in your Economics text.

2) Put your desks together and form groups of 4-6 and play The Game of Life.  As you are playing keep track of all economic decisions you made while playing (ex: chose to work instead of going to college, what type of house you choose, what was your payday amount...)  Tell me what your choices were, which you chose and why.

Allow students to join your game late if they took longer to finish the classwork.  Do not play a game with more than 6.

Minimum Wage

1.      How good were Morgan and Alex at budgeting for the 30 day period?

2.      What role did budgeting play in survival for Alex and Morgan?

3.      Do you agree with Sen. Ted Kennedy’s argument that raising the minimum wage helps families?  What about the opposing side that is against raising the minimum wage (big business in the U.S.)?

4.      Why do you think that Alex became so emotional about the services that were given to her and Morgan at The Free Store?

5.      Describe how you would make the decision regarding going to the doctor vs. trying to keep finances in the black.  What if children were involved—would that change your decision making process?  If so, how?

6.      Observe how easy it was for Morgan and Alex to get into an argument over finances.  What is the underlying feeling that you think is at the cause of the conflict?