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The Pack contains associated resources for the learning experience, typically in the form of articles and videos. There is a teacher Pack (with only teacher information) and a student Pack (which contains only student information). As a teacher, you can toggle between both to see everything.
Here are the teacher pack items for The Development of Free Enterprise:
Overview In this experience, students post inferences and questions about a free market economy. Then they examine key concepts related to this economic system. Next they analyze how the Industrial Revolution gave rise to capitalism and they discuss Adam Smith’s ideas of laissez-faire economics. Finally they read an excerpt from Smith’s The Wealth of Nations and prepare a brief presentation on the reading. Students will collaborate in small groups for scene 3 to scene 4. The Elaborate scene is based on a lesson plan created by the Adam Smith Works organization. There are six readings, each with discussion questions. You can divide the class into six small groups and assign each group a different reading to discuss and present to the class, or you can divide the class into small groups with six members who each take a different reading and present it within the small group. Objectives
Free enterprise system. Free market economy. Capitalism. These are all words related to an economic system that arose together with the Industrial Revolution. In this experience, you will learn what these terms mean and how the system developed.
Objectives
The United States has a variation of a free market economy. Think about what you know about the U.S. economy and infer a characteristic of the system. If you don’t have any ideas, post a question that you have about the system.
Accept any ideas or questions that students post. You do not need to correct misconceptions at this point. If time allows, tell students to revisit this chart after they complete the experience.
