Who will receive the goods and services you produce

Reference no: EM133389320

Assignment:

Pretend you and 10,000 people (or more/less- your call) just mysteriously found you were isolated on an island. YOU have been put in charge of setting up the economic system for your new "community".

1. Name your "society".

2. Draw a picture of your island and label/identify the following:

Your capital city
Areas of key economic activity (Industry? Agriculture?)
Other key areas (Ports? Bridges? Rivers?)

3. WHAT will you produce in your society?

What resources will you have access to? (make this up / assume you have it)
What products/services will you specialize in? (make sure you can justify this based on your available resources)

4. HOW will you produce your goods and services?

Are you going to use more "traditional" methods? Or are you going to use more modern methods?
Why did you choose these methods?

5. WHO will receive the goods and services you produce?

Are you producing for export to other communities? Or are you just producing for your own society?
If you are producing to sell to other nations/societies, how will you get your goods and services to them?

How will you manage your economy?

1. Will you be more "traditional", "command", or "capitalist?

In 2-3 sentences, WHY did you choose this method.
What type of "currency" will you utilize? Or will there even be a currency?

2. List/describe at least three "LAWS" you will establish that deal with your economy (each one in complete sentence please).

What would be 2 to 3 issues/challenges that you feel the people in your society COULD be faced with based on your economic structure?

In 2 to 3 sentences, describe why you still feel that your "plan" is still the "best economic framework" for your society (and basically ANY society) going forward.

Reference no: EM133389320

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