Activity 01
Role-Play: Economic Council Simulation
Assign small groups roles as advisors in market, command, or traditional economies facing scarcity, like limited farmland. Groups propose answers to the three questions and present rationales. Class votes on best approaches and discusses trade-offs.
Explain how different societies prioritize answers to the three basic economic questions.
Facilitation TipDuring the Role-Play, assign roles with clear incentives (e.g., profits for firms, welfare for governments) to force trade-off decisions.
What to look forPose this question to small groups: 'Imagine Canada decided to answer 'what to produce' solely based on environmental sustainability. What are three goods or services we might produce less of, and three we might produce more of? Explain your reasoning.'