From 11:00PM PDT on Friday, July 1 until 5:00AM PDT on Saturday, July 2, the Shmoop engineering elves will be making tweaks and improvements to the site. That means Shmoop will be unavailable for use during that time. Thanks for your patience!
We have changed our privacy policy. In addition, we use cookies on our website for various purposes. By continuing on our website, you consent to our use of cookies. You can learn about our practices by reading our privacy policy.
© 2016 Shmoop University, Inc. All rights reserved.
Economic Systems

Economic Systems

Challenges & Opportunities

Available to teachers only as part of the Economic Systems Teacher Pass

Economic Systems Teacher Pass includes:

  • Assignments & Activities
  • Reading Quizzes
  • Current Events & Pop Culture articles
  • Discussion & Essay Questions
  • Challenges & Opportunities
  • Related Readings in Literature & History

Sample of Challenges & Opportunities

We begin this unit by briefly reviewing the four types of economic systems most commonly identified by economists. We encourage you to spend some time in class exploring how different economic systems shape people's lives, and our "one-act play" activity will help you do this. From there, we quickly move into a more thorough examination of America’s mixed economy: its historical evolution and the critical questions that continue to shape it.

The most critical and ongoing question is where exactly we should draw the line between free market principles and government intervention. The "economic adventure" explores this question as it pertains to the problem of greenhouse gases. Other activities ask your students to consider where and when the government should intervene in the workplace and in specific industries.

Once they take a close look at our economy, your students will recognize the combination of individual initiative and government regulation that defines America’s mixed economy. Moreover, these exercises will help you demonstrate that the precise mixture leading to economic growth and economic security is still being debated.