The Power of Choice: Scarcity and Incentives · Foundations of Economics
Economic Systems and Resource Allocation
Comparing how command, market, and mixed economies answer the three basic economic questions.
Key Questions
- 1Who benefits and who bears the costs in a purely market-driven system?
- 2How do different economic systems determine what is produced and for whom?
- 3What incentives are driving this behavior within a planned economy versus a market economy?
Ontario Curriculum Expectations
ON: Economic Systems - Grade 10ON: Canadian and World Studies - Grade 10
Grade: Grade 10
Subject: Economics
Unit: The Power of Choice: Scarcity and Incentives
Period: Foundations of Economics
Suggested Methodologies
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