SCARCITYThe basic problemfaced by alleconomies is scarcityPeople have unlimitedwantsThe earth has limitedresources to sa...
ECONOMIC DECISIONSWhat to produce?How will we produce it?Who gets what weproduce?Shared?Sold?Given?
CANADA’S ECONOMYCanada distributes goods and services through a mixedmarket economy (mostly market but some othersystems t...
MARKET ECONOMIESBrings all consumers and sellerstogetherSellers Supply goods and servicesConsumers Demand goods and serv...
SUPPLY AND DEMAND
MARKET ECONOMIESSociety gets the most it can out of itsscarce resourcesBut…Rich can buy more than poorSome people will mak...
COMMAND ECONOMIESGoods and servicesare distributed bygovernmentIdeally in a fair andequal way, sopeople geteverything they...
COMMAND ECONOMIESEveryone should have equalaccess to goods andservicesBut…Citizens have less spendingchoiceGovernment has ...
CIVIC MIRRORResources, such as healthcare and energy, are limitedNeeds and wants are unlimitedThe simulation will determi...
CIVIC MIRROR - PRICESSellers (suppliers) want the highestpriceBuyers (demanders) want the lowestpriceA fair price will be ...
QUESTIONS TO PONDER Should our economy be an open, free economy or should thegovernment regulate it? If a price is consi...
SOURCEShttp://www.google.ca/imgres?q=civic+mirror&um=1&hl=en&sa=N&biw=1024&bih=571&tbm=isch&tbnid=eqndRUOh2eg8pM:&imgrefur...
Civic mirror economics
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Civic mirror economics

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An introduction to basic economics in Civic Mirror

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Civic mirror economics

  1. 1. SCARCITYThe basic problemfaced by alleconomies is scarcityPeople have unlimitedwantsThe earth has limitedresources to satisfythese wants
  2. 2. ECONOMIC DECISIONSWhat to produce?How will we produce it?Who gets what weproduce?Shared?Sold?Given?
  3. 3. CANADA’S ECONOMYCanada distributes goods and services through a mixedmarket economy (mostly market but some othersystems too) Most bought and sold (through a market) Food, iPods,… Some are given to those in need social assistance, legal aid, … Some are provided for everyone education, emergency services… Some are shared Parks, sidewalks,…Government usually pays for goods and services that areprovided or shared
  4. 4. MARKET ECONOMIESBrings all consumers and sellerstogetherSellers Supply goods and servicesConsumers Demand goods and servicesSupply and Demand works in oppositedirectionsSuppliers want a high priceDemanders want a low priceMost efficient suppliers will sell toDemanders willing to pay the highestprice
  5. 5. SUPPLY AND DEMAND
  6. 6. MARKET ECONOMIESSociety gets the most it can out of itsscarce resourcesBut…Rich can buy more than poorSome people will make poorconsumption decisionspeople will buy things they don’tneedSome people won’t be able to buythings they need
  7. 7. COMMAND ECONOMIESGoods and servicesare distributed bygovernmentIdeally in a fair andequal way, sopeople geteverything theyneedGovernment needslots of money orresources
  8. 8. COMMAND ECONOMIESEveryone should have equalaccess to goods andservicesBut…Citizens have less spendingchoiceGovernment has lots of powerand controlPeople may want differentthings than what thegovernment providesThere is less incentive to workhard
  9. 9. CIVIC MIRRORResources, such as healthcare and energy, are limitedNeeds and wants are unlimitedThe simulation will determinehow goods are distributed(who gets what)Economic event – every springthere will be a day to buy,sell and trade
  10. 10. CIVIC MIRROR - PRICESSellers (suppliers) want the highestpriceBuyers (demanders) want the lowestpriceA fair price will be somewhere inbetween these amountsSomething is worth whateversomeone is actually willing to payfor it
  11. 11. QUESTIONS TO PONDER Should our economy be an open, free economy or should thegovernment regulate it? If a price is considered unfair, should the government step in tocontrol prices? But then it is more difficult to distribute goods because theyno longer go to highest bidder How will one determine who to sell resources to if theresources are limited? Is it okay to deny a citizen a resource if the result will be thedeath of a family member?
  12. 12. SOURCEShttp://www.google.ca/imgres?q=civic+mirror&um=1&hl=en&sa=N&biw=1024&bih=571&tbm=isch&tbnid=eqndRUOh2eg8pM:&imgrefurl=http://civicmirror.com/blog/the-hex-auction-civic-mirror-classroom-video-series-episode-10&docid=DFmaaFY6-N851M&imgurl=http://civicmirror.com/wp/wp-content/uploads/hex-auction.jpg&w=551&h=550&ei=x9tuUKvmBLOLyQHBzIHoCg&zoom=1&iact=hc&vpx=87&vpy=124&dur=4423&hovh=224&hovw=225&tx=146&ty=178&sig=117872012917030589214&page=1&tbnh=118&tbnw=118&start=0&ndsp=18&ved=1t:429,r:0,s:0,i:71http://www.google.ca/imgres?q=canada&um=1&hl=en&biw=1024&bih=571&tbm=isch&tbnid=TCf9qzNPyepKKM:&imgrefurl=http://www.ciceducation.org/&docid=QAuNM01SuO45hM&imgurl=http://www.ciceducation.org/Canada%252520Maple%252520Leaf.jpg&w=314&h=355&ei=iNxuUIvtBePmygGL6IG4Bg&zoom=1&iact=hc&vpx=584&vpy=197&dur=938&hovh=239&hovw=211&tx=128&ty=176&sig=117872012917030589214&page=1&tbnh=160&tbnw=142&start=0&ndsp=8&ved=1t:429,r:6,s:0,i:153http://www.google.ca/search?hl=en&sugexp=les%3B&cp=8&gs_id=p&xhr=t&q=civic+mirror&bav=on.2,or.r_gc.r_pw.&biw=1024&bih=571&wrapid=tljp1349442422612012&um=1&ie=UTF-8&tbm=isch&source=og&sa=N&tab=wi&ei=w9tuUJWsL4fFyAG76ICwDAhttp://www.google.ca/imgres?q=civic+mirror&um=1&hl=en&sa=N&biw=1024&bih=571&tbm=isch&tbnid=WHgMcMgILxuyGM:&imgrefurl=http://students.wrdsb.ca/mahas1773/2011/04/07/my-civic-mirror-experience/&docid=N0PHBsgRefpArM&imgurl=http://students.wrdsb.ca/mahas1773/files/2011/04/video.jpg&w=290&h=170&ei=x9tuUKvmBLOLyQHBzIHoCg&zoom=1&iact=hc&vpx=523&vpy=168&dur=5156&hovh=136&hovw=232&tx=147&ty=70&sig=117872012917030589214&page=1&tbnh=96&tbnw=163&start=0&ndsp=18&ved=1t:429,r:3,s:0,i:80Civic Mirror Manual
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