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Welcome to The Great Economic Fall Fest.

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Congratulations You completed the Economic Fall Festival!!!

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An economy is all the activity in a region (such as a city or a country) that is related to trade, wealth, and production. Every country has an economic system, or a way in which it produces and distributes goods and services. However, not all systems are the same: They vary depending on how countries handle production.

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Imagine capitalism as an autumn farmers' market where individual vendors set up their stalls. Each vendor competes to sell their produce and crafts to customers. Prices for seasonal goods like pumpkins and apples fluctuate based on supply and demand. Successful vendors thrive, similar to how businesses compete in a capitalist system. Click on each item to learn more.

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You Bought Corn, Apples, Garlic, and a Pumpkin for $18

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Pick Your Own Produce

Click the basket then answer the question

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You spent $15 on the pick your own produce event. Go back to the main stand for your next activity

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You spent $13 on the crock pot dinner your brought to the gathering. Head back to the farm stand for your next activity.

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Explore the forest to learn more about Economic Systems.

You donated $30 to the park restoration fund. Head back to the main stand for your next activity.

Click the leaf to read the scenario then answer the question.

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Russia was the first country to put communism into practice. In 1917, Vladimir Lenin promised improvements for the Russian people and led the Russian Revolution. His Bolshevik party overthrew the Russian monarchy. Several years later, the Bolsheviks set up a communist government. Russia became known as the Soviet Union. Marx and Engels never explained how a communist government should work. Lenin decided that a forceful government was necessary to rid the country of social classes, private businesses, and other capitalist ideas. As a result, Lenin ruled the country like a dictator. After he died, a man named Joseph Stalin took over and ruled even more harshly.

Communism spread to other countries throughout the 20th century. In China, a long civil war ended when communist leader Mao Zedong defeated his enemies. He set up a communist government, which he ruled as a dictator. In general, communist governments like China and the Soviet Union focused more on maintaining power than on serving the people. The dictators killed or imprisoned millions of citizens who questioned them. On the surface, these communist countries appeared to be societies run the way Marx and Engels would have wanted. China, for example, became the People's Republic of China. But in reality, the communist leaders ruled like kings.

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Producers are people who make resources that are available to buy. People are producers when they work at their jobs offering resources for sale.

Goods are physical resources that people can use. Some examples include food, clothing, and electronics. Usually, goods are items that can be purchased and used by the people who own them.

Consumers are people who use resources. Usually, consumers use money to buy these resources.

Services are resources that people exchange that are not physical. Instead, services are tasks performed by skilled people. Examples of services include a medical examination from a doctor or a haircut performed by a barber.

The United States was one of the first countries to establish a capitalist economy. The Founding Fathers believed an economy worked best when people produced and traded with as little government involvement as possible. Today, the United States has a mixed market economy rather than a pure market economy. However, America still has one of the least regulated capitalist economies in the world. American-style capitalism is often called a free enterprise system. Free enterprise refers to the freedom of private businesses to make profits without government interference. It is also called the free market.

Capitalism An economic system in which most means of production (capital, land, and labor) are privately held. In a capitalist system, production, prices, and incomes are determined by the market.

Socialism

Mixed Economy

Capitalism

Communism

In a cozy neighborhood, there was a beloved tradition of hosting a potluck dinner. Each household contributed a homemade dish, which was then shared equally among all attendees. This tradition showcased the idea of sharing resources and ensuring that no one went without a warm meal, representing:

Welcome.. Explore the Fall Festival to learn about economic systems around the world. Each activity will cost a set amount of money. Keep track of your costs through the Festival. 1. Farmers Market 2. Pick Your Own Produce3. Pot Luck Dinner 4. Trail Walk Once you are finished click the puppy and enter your total cost to reveal a hidden Fall surprise.

Once upon a time in a picturesque autumn landscape, there was a vibrant community with a variety of different approaches to managing their resources and economy. In the heart of the community, there was an annual Autumn Market where vendors set up stalls to sell their products. Each vendor had the freedom to decide what to sell, set their prices, and compete for customers' attention. It was a bustling marketplace, with some vendors thriving and accumulating colorful "leaves" (profits), while others struggled to attract customers. This exemplified the principles of:

communism An economic system in which the government fully controls the way an economy produces goods and services. Examples: China, Cuba, the Soviet Union

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Karl Marx and Friedrich Engels were German philosophers. In their pamphlet The Communist Manifesto, they argued that the working class should rise up and take over production instead of producing resources for the rich upper classes that treat them poorly. \ The Manifesto was anticapitalist. In a capitalist economy, there are always haves and have-nots because the point of capitalism is to get rich. Marx and Engels believed all people should have equal ownership of everything; no one should be richer or poorer than anyone else. The message caught on, especially with poor working-class people across Europe.

The goal of communism was to create a society that had no classes — a society without rich or poor. In practice, no communist country ever achieved this goal. In the end, most were ruled by dictators who formed a privileged class all their own. As a result, communism never became as successful as capitalism.

socialism A social system in which property and industry are owned and controlled by the community as a whole.

An entrepreneur is somebody who risks time and money to start a business. If the business fails, the entrepreneur may be ruined. If it succeeds, however, the entrepreneur can become rich. For example, in a business that makes socks, the entrepreneur is the person who came up with the idea of making socks and who borrowed money to start the business. That entrepreneur has to pay back the money she borrowed, so she must make and sell enough socks to someday turn a profit.

Near the market, there was a charming community garden where residents could cultivate their plots. Some chose to maintain their plots individually, taking full ownership of their produce. Meanwhile, other plots were designated as community gardens, where residents worked together to ensure that everyone had access to fresh vegetables. This garden was a symbol of:

Socialism

Mixed Economy

Capitalism

Communism

Near the market, there was a charming community garden where residents could cultivate their plots. Some chose to maintain their plots individually, taking full ownership of their produce. Meanwhile, other plots were designated as community gardens, where residents worked together to ensure that everyone had access to fresh vegetables. This garden was a symbol of:

Socialism

Mixed Economy

Capitalism

Communism

Once upon a time in a picturesque autumn landscape, there was a vibrant community with a variety of different approaches to managing their resources and economy. In the heart of the community, there was an annual Autumn Market where vendors set up stalls to sell their products. Each vendor had the freedom to decide what to sell, set their prices, and compete for customers' attention. It was a bustling marketplace, with some vendors thriving and accumulating colorful "leaves" (profits), while others struggled to attract customers. This exemplified the principles of:

India became independent from Great Britain in the late 1940s. The people quickly set up a democratic government that embraced socialism. The government allowed people to do business on their own, but it also set strict rules. For example, it made it illegal for some businesses to fire workers without permission. The government also owned whole industries, such as mining and insurance. The Indian government started to relax its control in the 1990s, but it still has many socialist practices. For example, the government decides what percentage of each industry can be controlled by private businesses and what percentage should be controlled by the government.

The economic system of the United States was designed to be capitalist. Private businesses would be allowed to produce whatever they wanted to meet the demands of consumers. For much of its history, the U.S. government tried not to play a major role in managing its economy, and even today, it interferes very little.

mixed market economy A system in which part of the economy is left to the free market and part of it is managed by the government.

Near the market, there was a charming community garden where residents could cultivate their plots. Some chose to maintain their plots individually, taking full ownership of their produce. Meanwhile, other plots were designated as community gardens, where residents worked together to ensure that everyone had access to fresh vegetables. This garden was a symbol of:

Place all four produce items in the basket once you view them!!!

In a cozy neighborhood, there was a beloved tradition of hosting a potluck dinner. Each household contributed a homemade dish, which was then shared equally among all attendees. This tradition showcased the idea of sharing resources and ensuring that no one went without a warm meal, representing:

mixed market economy A system in which part of the economy is left to the free market and part of it is managed by the government.

As autumn drew to a close, deep within the forest, there was a secluded area where all the leaves had fallen. In this part of the forest, there were no individual trees left, and the leaves were collectively gathered and shared among the community, emphasizing the absence of personal ownership and the pursuit of common wealth. This secluded part of the forest illustrated the principles of:

Socialism

Mixed Economy

Capitalism

Communism

As autumn drew to a close, deep within the forest, there was a secluded area where all the leaves had fallen. In this part of the forest, there were no individual trees left, and the leaves were collectively gathered and shared among the community, emphasizing the absence of personal ownership and the pursuit of common wealth. This secluded part of the forest illustrated the principles of:

Free enterprise systems encourage people to work to obtain wealth. The drive to earn money makes production more efficient and competition fierce. However, if the drive for wealth goes too far, it can also make the system break down. Some economists argue that moral behavior is a necessary part of a strong free enterprise system. In particular, people, businesses, and governments must trust one another. That trust comes in several forms.