Objective
By the end of this lesson, Gaby will understand the basic concepts of capitalism and its role in the economy.
Materials and Prep
- Pen and paper
- Internet access for research (optional)
- No prior knowledge required
Activities
- Research Time: Encourage Gaby to look up examples of companies that operate under a capitalist system.
- Role Play: Have Gaby pretend to be a business owner and explain how they would make decisions in a capitalist economy.
- Debate: Engage Gaby in a friendly debate on the pros and cons of capitalism, encouraging critical thinking.
Talking Points
- What is capitalism?
"Capitalism is an economic system where private individuals own businesses and make decisions on how to use resources." - Role of competition:
"Competition in capitalism helps drive innovation and lower prices for consumers." - Entrepreneurship:
"Entrepreneurs play a key role in capitalism by starting new businesses and creating jobs." - Supply and demand:
"In capitalism, prices are determined by supply and demand, which can fluctuate based on market conditions." - Government's role:
"Governments in capitalist economies often regulate certain aspects to ensure fair competition and protect consumers."