The class is introduced to the notion of a ’traditional’ or ’subsistence’ economy, looking at its benefits and drawbacks. Students learn about the market economy, comparing free market economies to an actual street market. Listening exercises focus on pygmy societies, in particular the Mbuti tribe of central Africa, and Adam Smith’s ‘invisible hand’ theory.
DownloadsClick link to download and view these files
Economic SystemsPDF, Size 0.27 mb
Economic Systems - Answer KeyPDF, Size 19.36 kb
Exercise C: PygmiesOther, Size 0.96 mb
Exercise F: Adam SmithOther, Size 0.91 mb
No comments yet