5 ECONOMIC SYSTEMS

SITUATION
Targets:
Compare and contrast the five major
economic systems.
Contextualize the traces of these economic
systems as gleaned in Philippine economy.
BRIDGE
RECAP:
Ask students to recap the previous lesson on economics:
- Definition
- The Factors of Production
- Effects of the Productivity of Labor
- Factors of Economic Growth
- Hidden Curriculum
TASK 1: INTERNATIONAL CAFÉ
A. Ownership of enterprise
B. Goal
C. Power or Authority
D. Role of the Government
E. Existing critique
TASK 2: DIFFERING SCENARIOS
Economic Scenario in the Industry of
System ____________________________
TASK 2: DIFFERING SCENARIOS
- Rice Farming
- Coconut Farming
- Hospitality/Tourism
- Health Care
- Clothes Manufacturing
- Banking
- Education
- Food Services
- Construction
REFLECTION: DEAR BAGWIS
a.What are your biggest learnings/realizations from this
learning episode? Write at least two.
b.What images will be left in your mind after this class?
c.How did you feel about the lesson? About the way the
teacher handled the class? About your classmates?
Would you like to suggest improvements?
d. Is there anything that still confuses you? Feel free to leave
the teacher 3 questions to clarify the confusion.
EXHIBIT: WORD WEB OF ECONOMIC SYSTEMS
Definition
of Economy

Welfare
State Capitalism
Capitalism

Economic
Systems

Informal Socialism
Economy

Democratic
Socilism
CHECK UP
1. These consist of economic activities that are neither taxed nor
regulated by the government.
2. This economic system favors immediate creation of decentralized
economic democracy form the grassroots level as may be evidenced
in the formation of worker cooperatives.
3. This economic system advocates public or direct worker ownership
and administration of the means of production.
4. In this economic system, capital and non-labor factors are privately
owned and economic activity is geared towards profit.
5. This form of economic system seeks to promote social well-being of
citizens. In private enterprise, this often means the promotion of
welfare-like services, i.e., housing, transportation, etc.