Activity 01
Simulation Game: Market vs. Command Economy
Divide students into two groups representing a command economy and a market economy. Assign them a scenario, such as producing a specific good, and have them strategize production and distribution based on their assigned system's rules. Debrief by comparing outcomes and efficiency.
Compare the advantages and disadvantages of command and market economies.
Facilitation TipDuring the Classroom Market simulation, circulate and ask probing questions like 'What happens to price if more students want the same snack?' to guide students toward equilibrium.