Economies

What is “economics”?Economics is the study of how people make their money and a

study of choices.

Examples:Which pair of shoes to buy – the ones on sale or the ones you

really like, which cost much more.Whether to continue saving your money for an IPOD you

want, or to use some of it to go to a movieWhether to give some money to a fundraiser for school or to

housing for the homeless.

What is an “economic” system?ECONOMIC SYSTEMS: All countries have an Economic

System that sets rules for their different methods of production and consumption (buying and selling).

There are three major economic systems: traditional, market, and command.

Most countries today use a mix of these economic systems.

Traditional Economy

How to Recognize a Traditional Economy Found in rural, non-developed countries

Asia, Africa, South America & the Middle East

Technology is not used

Farming, hunting & gathering are done the same way as the generation before

Economic activities are usually centered toward the family or ethnic unit

Men & women are given different economic roles and tasks

The Noise Ghost is an Inuit poltergeist, or ‘noisy ghost’. This unseen, unbodied noise ghost may announce his haunting visitation by curling around a northern house on a cold quiet night and emitting a small, high-pitched hissing. This spectral whisp seeks to run you out of your house. Then, once you’re outside, after toxic cold cracks your bones, the noise ghost will jab its snout into your chest cavity, thrusting deep and red to gnaw your ribs and suck out your bone marrow.

Now the unhuman hiss whistles through ice chinks and drills into eardrums as the noise ghost hovers, waiting to envelope you in its sonic coil and madden you, long before relieving dawn may come.The noise ghost circles the igloo and, always the constrictor, wraps the fragile ice in singing folds of death. The hiss skitters about the room, swooping on the face of a screaming terrified child. Its high buzz mingles with gasping whispers and low, obscene, anticipatory gurglings as of a meat-lusting animal in full slobber. Sometimes you can see the raw noise itself, curling impudently in the cold air.

Swirling closer and closer to the frightened people inside the house, this evil noisemaker shrieks as if inside your very heart. Should you run jabbering and drooling fear, out, out into numb white death? No. Abide a moment and wait out the terror; then wise elders who know the ancient apotropaic words will drive the monster away and silence the noise ghost. This time.

CANADA (Inuits): Traditional Economy

Read about the Inuit’s economy and make a list of qualities that you notice.

Market Economy

How to Recognize a Market Economy•Limited government

•Private businesses

United States: Market Economy

How do we celebrate Halloween?Read the article about America’s

economy and make a list of qualities.

Command Economy

In China, the Halloween festival is known as TengChieh. Food and water are placed in front of photographs of family members who have departed while bonfires and lanterns are lit in order to light the paths of the spirits as they travel the earth on Halloween night. Worshippers in Buddhist temples fashion "boats of the law" from paper, some of which are very large, which are then burned in the evening hours. The purpose of this custom is twofold: as a remembrance of the dead and in order to free the spirits of the "pretas" in order that they might ascend to heaven. "Pretas" are the spirits of those who died as a result of an accident or drowning and whose bodies were consequently never buried. The presence of "pretas" among the living is thought by the Chinese to be dangerous. Under the guidance of Buddhist temples, societies are formed to carry out ceremonies for the "pretas," which includes the lighting of lanterns. Monks are invited to recite sacred verses and offerings of fruit are presented.

China: Command Economy

Read about China’s Command Economy and write down the qualities you notice.

What about…Ireland?Germany?Syria?