Review Economic Systems in the World: A.

Traditional/Tradition-based economy
*What drives this system? Traditions/Customs *What determines the choices that are made? Traditions/Customs

B. Command (Planned) economy

*What drives this system? Planning Group/Government *What determines the choices that are made? Planning Group/Government

C. Free Market economy (Free Enterprise/Capitalism)

*What drives this system? Supply and Demand *What/Who determines the choices that are made? Individuals/Private business

The Great USM Paper Airplane Challenge

Object: Take your company to the top! You represent companies bidding for a huge airplane
contract. You represent the owners of your company. You may run the company how you wish. The company with the greatest number of airplanes through the hoop wins! Its just that simple!

Timetable:
Phase 1: Research and Development - Each company will have five minutes to design their ideal airplane(s) however they want and whatever design they agree upon. All planes manufactured during this time cannot be used when the competition begins. Phase 2: After the R&D is over, the game will begin. Each company will manufacture as many of the airplanes as they can using whatever method they choose. Phase 3: Each company will have the opportunity to throw as many of their airplanes through the test hoop as possible. The winner is the company with the greatest number of airplanes through the hoop.

Rules: Only one person may throw the airplanes.

That person must be behind the line in order for the plane to count.
The plane must resemble a plane (two wings, and a nose). Paper balls do not count. That is not a plane. Shame on you.

How does the Paper Airplane Challenge reflect the characteristics of a Free Market Economy?
The business is owned by you individuals, not the 1. government. You had economic freedom of choice.

You were free to compete.

Your businesses were allowed to succeed.

These are FOUR of the six characteristics of a Free Market economy!