Wednesday, January 11th - Thursday, January 12th, 2006

Economic Systems


Students shall be able to

  1. identify the three economic questions,

  2. analyze the societal values that determine how a country answers the questions,

  3. explain the characteristics of traditional, command, and market economies,

  4. analyze the circular flow model,

  5. understand how a free market regulates economic activity,

  6. identify the advantages of a free market economy,

  7. compare the mixed economies of various countries along a continuum between centrally planned and free market systems,

  8. define (a) authoritarian, (b) capitalism, (c) command economy, (d) communism, (e) efficiency, (f) free enterprise, (g) factor market, (h) product market, (i) invisible hand, (j) laissez-faire, (k) market economy, (l) privatization, and (m) specialization.


  1. Students shall watch Episode 2 of Commanding Heights.

  2. Students shall complete a viewing guide sheet for the video.

Assignment: Watch Episode 2 of Commanding Heights and complete the viewing guide sheet (Word or PDF). [Click for answer options - Word or PDF.]


Monitor and adjust to check understanding. Check answers when notebooks are collected.

TEKS involved: 1A, 1B, 3B, 4A, 4B, 5A, 6A, 10A, 10B, 16A, 19A, 20A, 20B, 21A, 21B, 22A, 22B, 23A, 23B, 23F, 24A, 24D, 25A, 25B