We did a bead project to learn about the three main types of economies. For this bead project, we had to put beads on a string in a special order to make a bracelet. Each group had four people.
For the traditional economy, one person made a bracelet at a time, and we all had to inspect and approve it to make sure they did it right. We got paid for each correctly made bracelet.
For the market economy, our group got to decide what to make, and how to make it. We got paid for each item we made correctly. At the end, Ms. Diem came and counted how many items each team made.
It was a fun way to learn about the different economies!
By Dana and Brynn