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Economic Systems -- Market vs. Command

Compare and contrast the images below. Based on the "Bracelet Production" activity we did in class, respond to the following questions.

Question 1

Short answer

In the top cartoon, explain how we can tell which economic system is represented. Based on the cartoon and your experience during the simulation, what are the advantages of that system?

Question 2

Short answer

In the bottom cartoon, explain how we can tell which economic system is represented. Based on the cartoon and your experience during the simulation, what are the advantages of that system?

Question 3

Short answer

Based on the top cartoon and your experience during the simulation, what are the disadvantages of that system?

Question 4

Short answer

Based on the bottom cartoon and your experience during the simulation, what are the disadvantages of that system?

Question 5

Short answer

Explain how your experience during the simulation is represented by the illustrations in these two cartoons. Give examples to support your claims.

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