Fundamentals of Economics
Comparing Economic Systems

MINDS ON

Reflect

Think back to the basic concepts and terms you learned in this unit.

Choose two specific definitions, or concepts that will stick with you most. How might you investigate these further? What current issue do you think best reflects the factors of markets and demand and supply?

Reflect on the following:

Two key learnings you achieved in this unit; and
One economic issue reflecting demand and supply that you have heard of in the news recently.

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ACTION

Magazine Article Analysis

You will select a current magazine article related to demand and supply published within the previous twelve months to analyse for economic concepts and write a report to explain your analysis. Be sure to use the checklist below to ensure you have all of the necessary components.

Some possible sources are:

	Checklist Items
	Article is no more than 12 months old.
	Article reflects an aspect of demand or supply, elasticity, or interference in the market.
	Analysis contains a brief summary of the article and briefly explains the demand and supply concept.
	Analysis shows an understanding of bias and reliability by supporting or refuting with evidence from other sources.
	A graph is included to illustrate the demand and supply concept.
	Analysis includes reference to stability and variability, and economic perspective.
	Analysis is clearly written in paragraphs using proper conventions of language.

Submit Your Work

CONSOLIDATION

Economic Systems Infographic

You will create an infographic to compare Canada’s economic system with two other countries using criteria (e.g., healthcare, post-secondary education, education, infrastructure). Include where they are on the economic spectrum, with evidence. Select two countries from two DIFFERENT groups below to compare with Canada.

Cuba, China, N Korea, Russia, Laos, Libya, Iran.
Nepal, Burma (Myanmar), Haiti, Saami people, Chad, Bangladesh.
Sweden, Norway, Finland, Denmark, Israel, South Africa IV Japan, USA, Singapore, Qatar.

Possible Sources of information:

Use the checklist below to assess your infographic for effectivenesss prior to submission:

	Checklist Items
	Highlights reliable and interesting data.
	Focuses on one important or relevant topic.
	Presents data and information simply.
	Creatively presents data and information visually.
	Uses accurate and current statistics.
	Provides sources (credibility is important).